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November 6 2017

Gibraltar Stock Exchange launches Token Sale to create World’s First Tokenised Stock Exchange System

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Nick Cowan, Managing Director of the Gibraltar Stock Exchange (GSX) announced at the 11th edition of the d10e Conference in Gibraltar, the official launch of the Rock Token, a utility token that will underpin the growth of the Gibraltar Blockchain Exchange (GBX) and ecosystem, the world’s first nationally regulated and fully licensed exchange and marketplace for digital token and cryptocurrency assets. The Gibraltar Blockchain Exchange will be a subsidiary of the Gibraltar Stock Exchange. The token sale has a target minimum of $27m.
Setting it apart from a multitude of crypto-asset exchanges around the world today, the GBX intends to operate its own regulated exchange, with its own token sale platform, featuring a rigorous vetting system for the entry of emerging companies and their tokens. The GBX will establish a new, higher standard of quality, safety, transparency, and execution in token sales through a system requiring approved sponsors for every new token sale. Sponsoring firms (globally-respected experts in finance, fintech, blockchain and the cryptosphere) must hold a stake in the token as a quality guarantee to investors. In this age of existential risk and uncertainty in the realm of blockchain technology, the GBX will provide clarity, infrastructure and order, with a rules based system established by the community, and an innovative stakeholder mechanism for both issuers and sponsors.
For those issuing tokens for their value-based, disruptive new projects, the GBX provides a marketplace for issuing tokens into a large pool of AML (Anti-Money Laundering)/KYC (Know Your Customer) cleared buyers for a top-tier investor base. Sponsor firms are responsible for bringing tokens to market and assume specific ongoing responsibilities for their sponsored projects. GBX listed companies will receive preferred access to list on the GSX, giving crypto start-ups more options to raise capital and access more diverse traditional investor bases, as they grow.
The integrated GSX/GBX Comprehensive Crypto Markets Platform will include: Token Sale Platform, Cryptocurrency Exchange, Stock Exchange, Fund Services, Corporate Services, Crypto Fund, Banking facilities, E-Money Institution and Asset Management.
The GBX Alliance consisting of legal advisors, tech firms, academia and investors will constitute an international forum, supporting development of the crypto economy in Gibraltar. The GBX Alliance Council, chosen from the GBX Alliance, will establish guidelines and standards for listing and trading, and set sponsor firm entry criteria.
The trading technology being developed for the GBX will at a later date be integrated within the GSX tech stack to create the world’s first fully blockchain enabled stock exchange. The GSX anticipates in time that all securities will be issued directly on blockchains.
Nick Cowan, MD of the Gibraltar Stock Exchange (GSX)  told a story to explain why Gibraltar is pushing ahead into the blockchain space:
“John H Slade, former Senior Managing Director of Bear Sterns, bought two stocks in his entire career; IBM since 1942, and Boeing since 1959. John Slade’s advice was to get in front of technology that changes things. Blockchain is a technology that will fundamentally change things.”
The GBX, with its Rock Token, will be a reliable venue for investors and token issuers in the cryptosphere, worldwide.
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