tribeOS is First to use GSX Group’s GRID Platform to Create a Digital Security

The GSX Group recently announced the launch of “GRID” –  platform to create and launch digital securities. GSX is the company that operates the Gibraltar Stock Exchange, among other entities. Today, tribeOS is claiming to be the first company to utilize the platform. tribeOS is a digital advertising platform that has issued digital securities, or security tokens, on the GSX Group Native STACS network, a proprietary blockchain designed to power the future of finance.

Nick Cowan, CEO of the GSX Group, said they are excited to have completed the successful digitalization of tribeOS’s shares and they look forward to welcoming further “pioneering companies who wish to push the boundaries of innovation and accelerate the adoption of blockchain within the capital markets.”

In early 2019, tribeOS claimed title to the world’s first federally approved digital security offering. tribeOS’ FIRE shares were approved by the Bermuda Minister of Finance under Bermuda’s digital asset legislation. Investors in the digital security offering included Bitmain Technologies, the leading developer of Bitcoin mining hardware. The initial source of funding for tribeOS originated from Exponential Ventures, a VC focused on investing in high growth start-ups.

Matt Gallant, tribeOS’ CEO, commented on the news:

“Using the GRID to create and deploy our shares in digital form allows for a quick and cost-effective route into the digital space. The tribeOS and GSX Group teams share a vision and ethos in promoting the many use cases that blockchain provides and driving greater adoption levels globally. We look forward to working with the GSX  to achieve this collective goal.”

GRID part of the GSX Group’s vision to revamp “Financial Markets Infrastructure” through technological innovation.

“Our ambition is to deliver dynamic cost-saving solutions, broaden the accessibility of capital, and help issuers in terms of speed-to-market. We are working with other companies who intend to use the GRID to enter into the fast-developing world of digital securities. I’d like to thank tribeOS for putting their trust in us and the GRID. This is just the first step on the road to mainstream adoption,” stated Cowan.

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