Gibraltar Stock Exchange Allows Financial Firms To List Blockchain-Based Securities
The Gibraltar Stock Exchange Allows Financial Firms To List Blockchain-Based Securities
The Gibraltar Stock Exchange (GSX) is allowing financial firms to list tokenized securities on its platform. The information was released on Tuesday by the exchange after it received the necessary permissions from the Gibraltar Financial Services Commission (GFSC).
GSX Supports Tokenized Securities
The Gibraltar Stock Exchange will now allow firms to list corporate and convertible bonds, asset-backed and derivatives securities on its GSX Global Market platform. The CEO and founder of the GSX Group, Nick Cowan, said that they want to open up greater liquidity pools and make illiquid assets more accessible to investors.
Companies from other countries outside the European Union (EU) such as Iceland, Liechtenstein, Norway, and Switzerland will be able to work with the exchange. These firms will be able to bring their financial products to the market.
The Gibraltar Blockchain Exchange (GBX) has recently received a license from the GFSC in November to offer services to market participants.
Cowan commented that exchange-traded funds (ETFs) could also be released in the future:
“ETFs are products that the GSX Group is especially interested in given our position as one of the largest fund administrators in Gibraltar, meaning we can support future ETF structuring and issuance.”
Crypto-related exchange traded funds have been discussed in the United States but the Securities and Exchange Commission (SEC) has yet to decide whether it will approve the current proposals made by different companies. In the last years, several ETF proposals have been rejected by the regulatory agency in the United States due to concerns with market manipulation and investors’ protection.