(International Investment) -- The Gibraltar Blockchain Exchange (GBX), which aims to position itself as a world-leading institutional-grade token sale platform and Digital Asset Exchange, officially launched on Monday.
The newly launched exchange is now open to members of the public and will feature fiat onboarding for customers, as well as a number of trading pairs, which it is set to expand in the future.
Nick Cowan, CEO of the Gibraltar Blockchain Exchange, said: “The launch comes at a time when the cryptocurrency and token markets are reaching a new stage of maturity. In 2018 alone, Initial Coin Offerings (ICOs) have raised a combined total of $13.7bn globally – more than was raised in all ICOs which took place before 2018 combined. We are excited to enter this pivotal stage in our development at such an important time for the industry. The fact that we can launch with fiat onboarding is a huge added bonus for our community.”
Following the official launch, the GBX platform is now accessible to members of the public who have undergone a standardised KYC process and incorporates fiat onboarding. At present, three USD pairs are available for customers, with USD onboarding available for BTC, ETH and RKT. A greater number of fiat currencies is planned to be incorporated onto the exchange in the future.
The newly launched Digital Asset Exchange hosts a total of 6 tokens at present, including BTC, ETH, BCH, ETC, LTC, and RKT – which have a combined market capitalisation of over $170bn. Going forward, issuers that have completed their token sale on the GBX GRID will have the opportunity to list their tokens on the GBX platform’s Digital Asset Exchange. This opportunity to list new tokens will also be open to other token issuers that have not come through the GBX GRID.
The primary medium of exchange for trades on the GBX platform will be the GBX-generated Rock Token (RKT). RKT are ERC-20 compliant utility tokens and can be used to pay trading fees; listing and sponsor fees; and for issuer staking on the GBX. They shall also grant holders early access to token sales hosted on the GBX GRID and reduced trading fees on the Digital Asset Exchange.
“We have made concerted efforts to ensure that upon our public launch the GBX would host a number of leading cryptocurrencies and tokens to ensure utility for the trading community. We are already looking forward to making significant additions to this offering in the future as we continue to make sustained progress in offering users the most comprehensive trading options possible,” added Cohen.
The GBX network lists 15 sponsor firms spread across the globe. The robust listing process is what sets the GBX apart from its competitors, as Sponsor Firms are responsible for introducing pre-vetted token sale projects to the GBX. This ensures that only quality tokens are accepted and allowed to enter on the GBX.
“The official launch of the GBX is the result of not only the hard work of an extraordinary team, but also the dedication of our wonderful community, who share our passion for blockchain technology and our vision of a mature crypto market. We are proud to be opening our exchange to the public so that more people may join us on our journey, working toward a new era of trust, openness, and global acceptance for the crypto industry. I believe Gibraltar and we here at the GBX offer something genuinely different. Gibraltar was the first jurisdiction to introduce regulations around Distributed-Ledger-Technology, and we are reaping the rewards of that today,” concluded Cowan.