The Gibraltar Blockchain Exchange (GBX) has admitted Stellar’s XLM Token to its Digital Asset Exchange (GBX-DAX), brought to the GBX by Sponsor Firm Rampart Corporate Services. XLM is now listed and available to trade.
Stellar is a distributed payment network built on the Blockchain, facilitating cross-asset transfers of value, including payments in both fiat-based currencies as well as cryptocurrencies. Lumens (XLM) are the native digital assets of the Stellar network, used to pay transaction fees and act as a bridge for multi-currency transactions, facilitating trades between pairs of currencies where there may not be a large direct market.
Supported by a nonprofit (Stellar.org), Stellar increases interoperability between diverse financial systems and currencies, enabling the frictionless movement of money between people, companies and financial institutions, thereby increasing access for individuals, lowering costs for banks, and generating more revenue for businesses.
Peter Howitt, Founder of GBX Sponsor Firm, Rampart Corporate Services, said:
“We are delighted to have worked with Kurt and the GBX team and Boris Reznikov of Stellar Partnerships to act as the sponsor firm for Stellar (XLM) on the Gibraltar Blockchain Exchange. Stellar is a great brand with the potential to help bring borderless safe and low-cost payments to the world and is a great fit for GBX.”
The Building Blocks of a Better Blockchain Exchange
GBX has long been established as a trusted, secure, institutional-grade token sale platform (GBX-GRID) and digital asset exchange (GBX-DAX). Leveraging the capital markets experience, good governance, and best practices of our parent company, the Gibraltar Stock Exchange (GSX), the GBX has built an ecosystem for safe, frictionless, and user-friendly participation in the token and crypto economies. As the first fully regulated digital asset exchange to be owned by a traditional stock exchange, the GBX’s full DLT licence from the Gibraltar Financial Services Commission (GFSC) brings us closer to realising our ambition to usher in a new era in blockchain powered finance. GBX account holders now have the added peace of mind of managing their digital assets on an insured digital asset exchange.
Regarding Stellar’s XLM listing on the GBX-DAX, Nick Cowan, CEO of the GSX Group was quick to point out that:
“As a blockchain exchange, GBX continues to go from strength to strength — building a better experience for our users. Stellar is an exciting and welcome addition to our already strong roster of tokens available for trading on the GBX-DAX. The promise of a more liquid, frictionless payments infrastructure built on the blockchain is one that aligns greatly with our mission at the GBX, and one that we hope will help us achieve our overall goal, as an industry, to increase global and institutional adoption of digital assets as the next stage in the evolution of finance.”
XLM Trading Pairs
XLM will be available in the following pairs: