Both the Gibraltar Blockchain Exchange (GBX), a regulated and insured digital asset exchange and token sale platform, and the Gibraltar Stock Exchange (GSX), an EU-regulated stock exchange, have entered into discussions with Hydra X.
About Hydra X
The Singapore-based Hydra X provides a high-performance trading platform for both retail and professional traders, with a trading and settlement infrastructure for digital asset financial marketplaces, utilising Distributed Ledger Technology (DLT) to give users an advanced platform to access a range of markets. As well as portfolio management, the Hydra X platform covers the entire transaction chain across multiple asset classes, including exchange-traded to off-exchange transactions, and the entire pre-trade to post-trade process.
Integration: Hydra X Sigma
A potential partnership could see the integration of Hydra X’s Sigma platform, an advanced multi-asset and multi-venue trading platform, with both GBX and GSX. This will allow users of the GBX and GSX to view prices, perform trades and monitor their portfolios, using the Sigma platform.
Daryl Low, CEO of Hydra X commented on the announcement, stating:
“We are excited about expanding our ecosystem with these potential partnerships. These discussions further demonstrate how Hydra X supports exchange-based trading by allowing seamless transactions and portfolio management across multiple trading venues. We are working to position Hydra X strongly for the rise of security token offerings.”
The GSX Group
The GSX Group, which includes the GBX and GSX, is building a new era of blockchain-powered finance. The Group’s ecosystem of companies provides a full solution suite for issuers and traders in digital assets. Through its latest initiative, the STACS Protocol, the GSX Group aims to transform the traditional financial markets using blockchain technology.
Nick Cowan, CEO of GSX Group said:
“GSX Group is in the business of changing the way issuers and users, both retail and professional, gain access to funding. Through blockchain technology, we have seen a tremendous push towards mass adoption. The nascent technology can redefine the global financial system, providing greater liquidity, transparency, efficiency and speed. We believe that developing a strong framework that can incorporate those solutions into the capital markets is an exciting prospect. A potential partnership with Hydra X could provide our users with greater opportunities to gain enhanced liquidity and improve the user experience, which is an integral step toward mass adoption. ”