The European Union-regulated Gibraltar Stock Exchange (GSX), which previously created the Blockchain Exchange (GBX), brings expertise into the cryptocurrency sector. When Executive Director David Wang accepted the interview with CoinsNetwork, he bluntly said that the cryptocurrency market has experienced ups and downs in the past 10 years, but as long as it breaks through with the technology, the market will become more popular and the industry will flourish.
Wang called GSX as a traditional exchange and has been committed to providing fast and low-cost listing services for SMEs (Small to Medium Enterprise). With the rise of blockchain and cryptocurrency, GBX was also established to welcome this wave. In particular, the lack of supervision of the initial coin offerings (ICO) which resulted in many scams. As a result, the ICO market is now becoming a pool of stagnant water, and professional services should be introduced.
“When ICO goes to the IPO, we help corporate finance,” Wang explained that the GBX platform provides ICO and cryptocurrency trading and introduces the concept of Sponsor Firms, through the industry professional institutions and asset management consultants for ICOs. The issuer prepares for the listing application and ensures that after the token is issued, it will continue to follow the guidelines of the relevant specifications.
However, whether it is a traditional or blockchain project, there are many exchanges around the world. To compete with other exchanges, confidence and supervision are the top considerations for investors. He said that GBX has fully obtained the regulatory license of the Gibraltar Financial Services Commission. “The founder has more than 30 years of experience in the traditional capital market and is well aware of the market.”
At the same time, some exchanges require users to convert the legal currency to a cryptocurrency such as Bitcoin (BTC) before trading. This process may be difficult for some people. Therefore, GBX can directly use the legal currency such as US dollar, British pound, Euro, etc., which can enhance the user experience.
Currently, GBX focuses on functional token transactions, including retail and institutional investments, and provides an ICO platform to finance start-ups. In the future, the parent company GSX will also be involved in security token offerings (STO), and the existing SMEs will be tokenized.
GBX has partnered with Sino-Singapore Technology Group and blockchain company Prime Fintech Hashstacs to develop the Securities Trading Asset Classification Settlements (STACS), which combines the global blockchain to support the issuance, trading, and settlement of digital assets. The company also hopes to create a free open source that allows local exchanges to build their own cryptocurrency exchanges, one day to connect with market participants around the world.
Bitcoin has fallen sharply from its high level this year, and the entire cryptocurrency market has entered a bear market. Wang believes that it has experienced many ups and downs in the last 10 years, but there are still many teams in the entire blockchain industry developing quality projects. Once the technologic breakthrough occurs, the financial and digital footprints can be interwoven into a huge network, and the market acceptance will naturally increase.
On December 12 this year, in Hong Kong, CoinsNetwork, Bloomberg Businessweek/Chinese Edition, Hong Kong blockchain consultant and investment company BlackHorse Group jointly organized ” Hong Kong Blockchain Summit 2018 “. David Wang will share more about the market. There will also be other renounced speakers at the conference to share the latest trends in the blockchain industry.