Gibraltar is cashing in fast forward the rise of crypto markets. The Gibraltar has introduced the lavish benefits for the investors in crypto to base their services on the island. The wooing and the steps taken are paying off.
The Gibraltar Stock Exchange (GSX) is launching a cryptocurrency Exchange called Gibraltar Blockchain Exchange (GBX) in order to woo the European Institutional Investors. By providing an easeful and regulated crypto exchange, Gibraltar is planning to become a crypto exchange haven as well after being ICO favorable.
GBX plans to synthesize the safeguards and security measures commonplace in the contemporary stock market to the decentralized nature and communal consensus aspect of the crypto sphere.
GBX has introduced nearly three hundred account holders. These accounts holders name overlaps with the institutional European investors. It is to be noted that GBX is a branch of the Gibraltar Stock Exchange.
Gibraltar Stock Exchange wants be the pioneer in the digital currency exchange mechanism. In order to attract even wide clientele, it needs the EU on its good side. The attraction of the institutional investors form Europe seems to be the step in that direction.
This step has not gone unnoticed in the Europe. The initiative has already got backings from almost ten companies including Blockchain Worx. The clients have been granted full access in order to gauze the user experience and further develop the platform based on their feedback.
GBX CEO Nick Cowan said,
“This is a significant step in our journey to becoming a leading digital asset exchange and token sale platform. The soft launch of the platform will mean that we can continue as effectively as possible toward providing an institutional-grade token sales springboard for utility tokens and top-quality digital asset exchange for the global blockchain and trading communities,”
The Gibraltar Parliament has voted unanimously to introduce amendment into the Financial Service Act to introduce crypto regulation last December. The bill went into effect from 1st January 2018 and protected the customers and crypt businesses alike.
Gibraltar is known for hosing huge chunk of European financial services markets and is a known gaming hub. The country has a reputation when it comes to the subject of tax heaven. However, the countries designated as tax heaven have been smartest when it comes to crypto regulations and made huge profits on the back of their positive regulations.
Also Read: Poland’s Largest Crypto Exchange BitBay Moves to Malta
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