The GSX Group, the company that operates the Gibraltar Stock Exchange and the Global Blockchain Exchange, has announced the launch of “GRID,” a platform to create and deploy “Smart Securities” or tokenized assets. The GRID is said to facilitate the tokenization of new and existing debt securities and funds, with equities rolling out in the second phase of the GRID’s development. The GSX Group has sought to quickly iterate, offering new blockchain-based services, and benefit from the transition to digital assets.
Nick Cowan, CEO of the GSX Group, explained they have been working over the past year to build a unique service combining their experience and technology to help deploy digital assets or security tokens. Cowan said the GRID will “provide the perfect venue for issuers to make the jump into what we call ‘Smart Securities’ as we push to redefine how those securities are traded, settled, and cleared using our bespoke blockchain.”
The GRID is said to offer the technology to facilitate any ‘tokenization’ of traditional and new securities into security token offerings (STO).
The GRID utilizes the GSX Group’s Native STACS Network, an in-house proprietary blockchain designed for securities, powered by the GATE token. GSX Group claims that through the GRID, issuers can “future-proof their business from legacy systems” by gaining access to the innovative performance of blockchain.
“The launch of the GRID in Estonia represents a step forward in the GSX Group’s capital markets plan, as we work to usher in a new era of blockchain-powered finance that is truly global. This is the first stage of a multi-tiered approach and overarching strategy that we’re excited to start unveiling to the world. We are well on our way to delivering a true fintech solution to drive capital markets forward into a new era defined by increased efficiencies, the removal of unnecessary counterparty risk, and unprecedented access to global liquidity pools,” explained Cowan.