The Gibraltar Blockchain Exchange (GBX), an institutional-grade, regulated and insured token sale platform and digital asset exchange, has added NEM’s XEM token to its Digital Asset Exchange (GBX-DAX). XEM was brought to the GBX-DAX by the sponsor firm Techemy and will have trading pairs with USD, BTC, and ETH on the GBX-DAX.
“The NEM project is spearheading the drive for mass adoption of blockchain and digital assets by reducing the cost and barriers to entry for established enterprises — a goal that is reflected in our own objectives,” indicated GSX Group Limited Managing Director and Founder Nick Cowan. “The listing of XEM on the GBX-DAX is further demonstration of our commitment to introducing strong, viable trading opportunities to our community of users.”
XEM, the native currency of the NEM public blockchain, is used for transaction payments in order to incentivize the network of public nodes, giving XEM a real fundamental value as the currency of a functioning economy. NEM is in the process of restructuring after reviewing its 2018 books and seeing “little to no accountability for funds.” Now helmed by Alex Tinsman, NEM.io Foundation decided to move toward transparency by rebooting its operating structure.
“As we continue to add to our diverse range of tokens listed on the GBX-DAX, we are identifying the tokens that will bring real value to our community of users, while also accelerating the overarching goals of the GSX Group,” added Cowen. “We are making steady progress on our roadmap to facilitating global mass adoption of a tokenised economy backed by innovative blockchain technology.”
NEM aims to enable users to create custom assets, while NEM’s blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain delivers industry-leading transaction rates for internal ledgers.
“Techemy Advisory partnered with GBX last year and we are delighted to see our first sponsorship listing to be such a high calibre asset as XEM,” stated Techemy Group Chairman Fran Strajnar. We have been carefully watching the NEM ecosystem and see longevity in their protocol developments and its adoption in the months and years ahead.”
Since obtaining a full DLT Licence from the Gibraltar Financial Services Commission (GFSC), the GBX-DAX became the first regulated and insured Digital Asset Exchange to be owned by a traditional stock exchange, the Gibraltar Stock Exchange (GSX). Users of the GBX-DAX have access to a growing catalogue of high profile digital assets and have the opportunity to participate in the token economy in an environment built upon the good governance and best practices brought over from the EU-regulated GSX.
“We are delighted to have XEM listed on the GBX… It is a great opportunity for the NEM community to trade XEM and safely store their digital assets with confidence,” David Mansell, Co-Founder and Director at NEM Ventures. “We believe the NEM project is key to bringing about greater Blockchain adoption, their core values are aligned with those of GBX and we look forward to building a tokenised future together.”
The past weeks have proved exciting for the Exchange, including listing Stellar, OmiseGo and Tron — click here for more details.
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