GSX Group’s subsidiary Hashtacs Inc. and STO Global-X will jointly launch an integrated Tokenized Securities Exchange product that will purportedly allow stock exchanges and other qualified financial institutions to tokenize assets and boost trading, clearing and settling of digital securities.
The collaboration will help stock exchanges and other financial institutions tokenize assets and boost trading. In addition, to clearing and settling of digital securities.
“The collaboration aims to integrate STO Global-X’s tokenization platform and exchange technology with Hashstacs’ Securities Trading Asset Classification Settlement (STACS) Network. The solution will include an institutional-grade security token exchange and trading platform complete with multi-factor authentication and military-grade encryption,”
the release further explains.
Floyd DCosta, CEO at STO Global-X added “Operating at the junction of traditional finance and innovative financial technologies, security token exchanges will radically transform the capital markets world. We are eager to work with institutions like the GSX Group to build the necessary infrastructure and lead in this new digital tokenized securities paradigm.”
Last December, the GBX, another subsidiary of the GSX announced offering insurance on all of the assets listed on its platform through the partnership with local firm Callaghan Insurance Brokers. The police stated that all assets in the custody of the GBX are fully insured, including both hot and cold wallets, and it also covers all forms of professional indemnity.
GBX was launched in July 2018 and raised a total of $27 million in funding. Over the past 24 hours, the exchange registered about $1.5 million in trades, currently placing it in 129th place on CoinMarketFeed’s exchange rankings by adjusted trade volume.
The GSX Group comprises of the Gibraltar Stock Exchange (GSX), Gibraltar Blockchain Exchange (GBX), Hashstacs Inc, Juno Services and the Blockchain Innovation Centre (BIC). The Group’s ecosystem of companies aims to establish a new era of blockchain powered finance, by providing a full-service suite to its clients. The efforts of the GSX Group are helping to bridge the gap between traditional finance and the developing blockchain industry, facilitating the move towards mass adoption and institutional participation.
STO Global-X is a Singapore-based technology company that offers an integrated institutional-grade securities tokenization platform and digital asset exchange. The company partners with licensed institutions to deploy and operate STO exchanges in multiple jurisdictions enabling market participants to issue, manage and trade tokenized securities in a secure and compliant manner.