The Gibraltar Stock Exchange (GSX) will begin listing of blockchain-powered securities on its practical listing venue GSX Global Market today, the firm announced the same on April 9.
The GSX will list a number of new products known as digital, smart or tokenized securities such as convertible bonds, corporate bonds, asset-backed securities, derivative securities, open-ended funds, and closed-ended funds, the announcement says.
The firm further notes in the release that they plan to enable greater liquidity pools and facilitate democratizing the capital markets with the aid of distributed ledger technology (DLT). The GSX Global Market is touted as a practical listing venue option for issuers that provides users reduced timelines and listing costs, along with lighter reporting and disclosure framework than the GSX Main Market.
The press release notes that the GSX Global Market is a recognized stock exchange regulated in the European Economic Area (EEA), which does not require debt issuers with securities listed on the market to withhold tax on coupons under British law.
These new listings followd the partnership of an integrated tokenized securities exchange product by GSX Group’s subsidiary Hashtacs and STO Global-X on April 5. The project will enable the stock exchanges and other qualified financial institutions to tokenize assets and boost the trading, clearing and settling of digital securities.
In March this year, the GSX managed to deploy a successfull GSX Digital Stock Exchange Prototype on the Securities Trading Asset Classification Settlement (STACS) blockchain and demo bonds were issued on its basis.
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