Gibraltar Stock Exchange (GSX) is launching listing of block-operated securities on its practical listing site GSX Global Market, which was announced on 9th April.
Today, GSX starts listing many new products known as Digital Bond, Convertible Bond, Asset-backed Securities, Derivative Securities, Open-Ended Funds and Close-Ended Funds, such as Digital, Smart or Token Securities.
By implementing Distributed Bookkeeping Technology (DLT), GSX intends to enable greater liquidity pool and facilitate democratization of the capital market, the firm has mentioned in the press release.
Unlike the GSX main market, the GSX Global Market provides a lighter reporting scheme and disclosure framework, which will deliberately enable issuers with short deadlines and listing costs.
As a regulated stock exchange in the European Economic Area (EEA), GSX Global Market does not require credit issuers with the listed securities in the market to withdraw tax on coupons under British law, as press release notes.
New listing comes on the heels of a partnership with GSX Group’s Assistant Hashtex and STO Global-X on April 5, an integrated token security exchange product partnership. The project enables the clearing of stock exchanges and other qualified financial institutions to token assets and to promote trading. And settlement of digital securities
In March 2019, GSX successfully deployed a GSX Digital Stock Exchange Prototype on Securities Trading Asset Classification Settlement (STACS) blockchain and issued a demo bond on its basis. The STACS-enabled project enables the listing of a digital representation of money and loans on the blockchain, developed with Singapore-based block-chain Hashrietts.