The Dawn of Hashstacs Inc (GSX Group Subsidiary), Prime Fintech and Chong Sing Fintech
Big players in the blockchain and finance industry have recently partnered and given birth to yet another potentially competitive tech company. Gibraltar Stocks Exchange (GSE) Group together with Chong Sing Fintech Holdings Ltd. and Prime Fintech Co. Ltd.
have entered into a joint venture to develop blockchain technologies further. This venture is what has led to the new company, Hashstacs Inc. Consequently, the collaboration between the partners is aimed at developing a protocol known as Securities Trading Asset Classification Settlements (STACS).
STACS will be a unique hybrid global public blockchain that will specifically support the trading, issuance, settling, and clearing of digital securities. Additionally, this does not stop here, more projects will be established on the STACS protocol. These projects will include; development of a new trading platform which will be a subsidiary of GSX, the Gibraltar Blockchain Exchange (GBE).
Another project will involve the creation of a scalable and secure storage solution for digital assets that is, Hashstacs Enterprise Wallet.
The STACS protocol is creatively designed to transform the capital markets radically through the Distributed Ledger Technology (DLT). However, this is also expected to be in line with the accepted best practices by regulators in an inclusive, transparent, and open environment. The protocol is also designed as a global venture that will provide advantages to both investors and issuers.
Additionally, investment banks, stock exchanges, dealers, and brokers are encouraged to join as verified partners for free.
Hashstacs Inc. and the New Digital Era
The managing director and founder of GSX Ltd., Nick Cowan expressed his excitement in the joint venture with the two firms in trying to seek excellence in the development of blockchains. He also described the collaboration as a major step for GSX Group towards achieving their vision of building trusted global financial services.
He also suggests that the STACS protocol will help manage the development of financial markets tokenization by deploying and scaling solutions.
Cowan continues to add and describe GSX as an early adopter as well as a supporter of DLT as a way of enabling issuers and traders to list as well as trade tokenized securities. He describes the STACS protocol as a significant development for the larger blockchain ecosystem that facilitates settling, issuance as well as trading of digital securities. He concludes by inviting relevant institutions to join the network as verified partners and provide their services using this platform.
The joint venture is a trio of core companies that aim at providing seamless trading experience for their users. Chong Sing Holdings provides round the clock financial services to merchants, SMEs, and individuals through mobile and internet solutions in Asia. Prime Fintech Co. focuses on helping enterprises integrate blockchain within their businesses.
GSX Group includes a number of companies that focus on providing their clients with a new era of finance services powered by finance. The group is dedicated to bridging the gap between developing blockchain ecosystem and the traditional financial systems as well as facilitating mass production.