GBX to Offer Public Onboarding through Fiat & Crypto: “Gibraltar Is Open for Business”

With the hopes of becoming an institutional-grade token sale platform and digital asset exchange, Gibraltar Blockchain Exchange (GBX) officially announced its full-scale launch today. The GBX, now open to members of the public, will eventually feature fiat onboarding for customers and a number of trading pairs. Crowdfund Insider has covered the GBX’s development over the last months as well as its listing companies. Things started becoming more interesting when  Gibraltar Finance introduced a regulatory framework for DLT in January 2018.  Before the release, the GFSC indicated its commitment “to being a sound and safe place to do business with and is considering a complementary regulatory framework covering the promotion and sale of tokens, aligned with the DLT framework.”

In May, Stryking Entertainment GmbH hosted its STRYKZ Token Sale Event in collaboration with the Gibraltar Blockchain Exchange and was also among the first companies to issue a token through the GBX GRID. Singapore-based real estate platform Crowdvilla also listed its token — the third at the time — on the Exchange earlier this summer.

“In 2018 alone, Initial Coin Offerings (ICOs) have raised a combined total of $13.7 billion USD globally – more than was raised in all ICOs which took place before 2018 combined,” Gibraltar Blockchain Exchange CEO Nick Cowan.

Following the official launch, the GBX platform is reportedly 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. The Exchange said that a greater number of fiat currencies is planned to be incorporated onto its exchange in the future.

“Today marks the most exciting development on the GBX journey thus far and is a significant indication that Gibraltar is open for business… 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,” added Cowan.

According to GBX, 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 capitalization of over $170 billion USD. 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.

[clickToTweet tweet=”According to @GibBlockEx, 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 capitalization of over $170 billion USD.” quote=”According to @GibBlockEx, 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 capitalization of over $170 billion USD.”]

The primary medium of exchange for trades on the GBX platform will be the GBX-generated Rock Token (RKT), an ERC-20 compliant utility token that can be used to pay trading fees; listing and sponsor fees; and for issuer staking on the GBX. GBX also said that the tokens will 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 also rolling out a number of initiatives designed to facilitate and encourage greater uptake,” highlighted Cowan. “Later this month, for example, we will launch the GBX ‘Exclusive Trading Competition’, that will include a total prize pool of 1 million RKT. Meanwhile, new users that register before the 17th of August will benefit from zero trading fees until the 14th of September.”

The GBX network currently boasts fifteen global Sponsor Firms, responsible for introducing pre-vetted token sale projects to the GBX, including KR1, ICOMain, kession, DLTA, Rockchain and Pegasus Fintech.  The GBX platform can now bring token sale projects from inception, through the token sale, and all the way to listing on the exchange.

[clickToTweet tweet=”@NickCowanGSX ‏ ‘I believe Gibraltar and we here at the GBX offer something genuinely different.’ @GibBlockEx” quote=”@NickCowanGSX ‏ ‘I believe Gibraltar and we here at the GBX offer something genuinely different.’ @GibBlockEx”]

“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.

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