The Gibraltar Blockchain Exchange (GBX), an institutional-grade, regulated and insured token sale platform and digital asset exchange, has added Ripple (XRP) to its Digital Asset Exchange (GBX-DAX), an exchange created with the high expectations of professional crypto-traders in mind.
“Ripple is a major player within the blockchain industry. In ways similar to our work at the GSX Group, it aims to re-shape the old methods of finance and banking, transforming payments through blockchain technology,” noted GSX Managing Director and Founder Nick Cowan. “XRP is a globally traded token and by joining the GBX-DAX it further extends its liquidity and reach.”
Ripple, created to bridge digital asset exchanges, payment providers and banks via RippleNet for frictionless money transfers globally, utilizes its RippleNet blockchain technology, which boasts scalability and inter-operability between networks. XRP, the digital asset used within the Ripple ecosystem, is a source of liquidity for its customers, which include Santander, Standard Chartered, and American Express.
Ripple recently surpassed a 200 client milestone for RippleNet. Current customers include Euro, Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo and BFC Bahrain. JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank will use the digital asset XRP to source liquidity on-demand when sending payments on behalf of their customers.
“We also saw a 350 percent increase last year in customers sending live payments, and we’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity,” indicated Ripple CEO Brad Garlinghouse.
The GBX-DAX is a digital asset exchange built on institutional-grade best practices and good governance, derived from the capital markets experience gained through the GBX’s parent company, the Gibraltar Stock Exchange (GSX), an EU-regulated stock exchange.
“In November last year, we were granted a full license to operate by the Gibraltar Financial Services Commission (GFSC) and, following this, we introduced insurance coverage for assets listed on the GBX-DAX,” added Cohen. “As we move into 2019, we plan to build on this momentum with new digital assets listed on the GBX-DAX, with Ripple as the first of these new tokens.”
The GBX-DAX said that its platform has been designed to be intuitive and easy to use. From strict verification requirements to the listing of a wide range of assets, every aspect of the GBX-DAX works toward creating the most professional and secure trading environment possible.