Having last week been granted a full licence as a DLT provider from the Gibraltar Financial Services Commission (GFSC), the Gibraltar Blockchain Exchange (GBX) is proud to announce the addition of new fiat currencies to its Digital Asset Exchange (DAX). From Tuesday 27th November at 11:00 UTC, in addition to US Dollars (USD), users will now be able to onboard using British Pounds (GBP) and Euros (EUR).
The GBX offers account holders a unique opportunity to become a member of both a token sale platform, the GBX GRID, and a cryptocurrency exchange, the GBX-DAX. Both platforms are 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. The GSX is now the first stock exchange to own a regulated blockchain exchange.
Nick Cowan, CEO of the Gibraltar Blockchain Exchange, commented:
“Today’s announcement marks yet another significant milestone for the GBX, building on our hugely successful public launch earlier this year, followed by the receipt of our full licence from the regulator in Gibraltar only last week. We strive to be the standard bearer in the industry, and adding GBP and EUR to our fiat on-boarding capabilities gives expression to this work in action while opening the door to a new wave of prospective users who want to explore the fast-evolving crypto space.”
Having launched to the public in July 2018, the GBX Digital Asset Exchange (GBX-DAX) now lists a significant selection of tokens. The primary medium of exchange for trades on the platform is the GBX’s utility token STACS, an ERC-20 compliant utility token that can be used to pay and reduce trading fees; listing and sponsor fees; as well as for issuer staking.
“Broadening the reach of blockchain technology and cryptocurrencies to as many users as possible has always been at the heart of our efforts, and strengthening our fiat onboarding offering is part of this mission. Our firm belief in the principles of transparency, efficiency, and security has driven us to build a token sales platform that ensures the best utility for the wider trading community, giving them the most robust trading experience possible. I’m very excited to continue to build on this momentum into 2019 and beyond,” concluded Cowan.
The new FIAT options open the world of cryptocurrencies and digital assets to new markets. Previously, getting access to digital assets has proven cumbersome and challenging. This marks another milestone for the GBX in increasing accessibility and reducing friction for users.