Gibraltar Stock Exchange Starts Listing Tokenized Securities

Wilfred Michael 

Wilfred Michael

News reporter

09 April 2019,
Gibraltar Stock Exchange Starts Listing Tokenized Securities

The Gibraltar Stock Exchange (GSX) said in a press release, today April 9 that has become one of the world’s first stock exchange to offer consumers exposure to digital debt securities and funds powered by blockchain technology.

The GSX will henceforth allow interested companies to use its platform for marketing DLT-based corporate bonds, convertible bonds, closed and open-ended funds, asset-backed securities and derivative securities.

As per the update, approved securities will be listed on the GSX Global Market while the exchange will issue the securities used the STACS blockchain network which they created solely for the new business.

The exchange also hopes that by listing securities on their regulated platform, they can open up liquidity pools and finally expose the capital market to new technology for the first time in a long while.

Companies that decide to list their digital securities on the GSX platform will reportedly enjoy benefits such as reduced listing costs, and non-obligation to withhold taxes on issued coupons.

GSX CEO, Nick Cowan described the new offering by his firm as a historic moment for both the exchange and the capital market. He further noted in the release,

“We have worked incredibly hard to reach this point, and we are now at the precipice of a truly transformational period for the capital markets. We now have an unparalleled opportunity for the GSX to become a frontrunner in the emerging digital securities market.”

As reported in November, the Gilbratar Stock Exchange has a regulatory license to offer DLT-related services, having acquired it via its subsidiary, the Gilbratar Blockchain Exchange.

Interestingly too, the Stock Exchange of Thailand (SET) is another major national stock exchange looking to tap into the newly emerging market. SET is reportedly eyeing a license to facilitate the launch of a trading venue for crypto-based assets before the end of 2019.

Subscribe to our Telegram channel to stay up to date on the latest STO and crypto regulations news.