Gibraltar Stock Exchange Subsidiary Partners with Tokenization Platform

2 min read

Hashstac, a subsidiary of the Gibraltar Stock Exchange Group (GSX Group), has partnered with Singapore-based technology company STO Global-X to facilitate the issuance of tokens. The development was announced by the Gibraltar Blockchain Exchange (GBX) on April 5.

GSX Group & # 39; s subsidiary Hashtacs Inc. and STO Global-X will jointly launch an integrated Tokenized Securities Exchange product that apparently allows stock exchanges and other qualified financial institutions to token assets and stimulate the trading, clearing and settlement of digital securities.

"The collaboration is focused on integrating STO Global-X & # 39; s tokenization platform and technology exchange with the Securities Asset Trading Classification Settlement (STACS) network of Hashstac. The solution will consist of a security token exchange and trading platform for institutional purposes, complete with multi-factor authentication and military-quality encryption, "the release further explains.

Last December, the GBX – which is another subsidiary of the GSX – announced that it provides insurance for all assets listed on its platform through collaboration with the local Callaghan Insurance Brokers company. Police stated that "all assets in custody of the GBX are fully insured, including both hot and cold purses," and that it also "covers all forms of professional compensation".

GBX was launched in July of last year and raised a total of $ 27 million in financing. Over the past 24 hours, the exchange recorded approximately $ 1.5 million in transactions, making it currently in 126th place on the CoinMarketCap exchange rankings due to adjusted trading volume.

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Don Bradman

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