The Gibraltar Blockchain Exchange (GBX) has announced its official full-scale launch, meaning that the exchange is now open to the public and will feature fiat onboarding for customers, as well as a number of trading pairs.
The official launch of the GBX follows an exclusive early access period, or ‘Soft Launch’, which saw 300 participants introduced to the exchange.
Members of the public can now access the GBX platform after undergoing a standardised KYC process. The platform incorporates fiat onboarding – currently, three USD pairs are available for customers, with USD onboarding available for BTC, ETH and RKT. GBX said it plans to incorporate more fiat currencies going forward.
The digital asset exchange currently hosts six tokens – Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), and Rock Token (RKT) – which have a combined market capitalisation of over $170 billion.
According to the official release, a significant number of users have already signed up to the GBX GRID, the exchange’s token sale platform, which recently completed its first successful ICO. They have already received KYC and AML clearance to participate on the exchange. Going forward, issuers who complete their token sale on the GBX GRID will have the opportunity to list their tokens on the GBX platform’s Digital Asset Exchange. This opportunity will also be available to other token issuers that have not come through the GBX GRID.
The primary medium of exchange for trades on the GBX platform will be the GBX-generated Rock Token (RKT). RKT are ERC-20 compliant utility tokens and can be used to pay trading fees; listing and sponsor fees; and for issuer staking on the GBX. They shall also grant holders early access to token sales hosted on the GBX GRID and reduced trading fees on the Digital Asset Exchange.
The GBX network now boasts 15 Sponsor Firms spread across the globe. Sponsor Firms are responsible for introducing pre-vetted token sale projects to the GBX, ensuring that only quality tokens are accepted and allowed to enter the GBX ecosystem. The platform can now bring token sale projects from inception, through the token sale, and all the way to listing on the exchange.
“We are already looking forward to making significant additions to this offering in the future as we continue to make sustained progress in offering users the most comprehensive trading options possible. We are also rolling out a number of initiatives designed to facilitate and encourage greater uptake. Later this month, for example, we will launch the GBX ‘Exclusive Trading Competition’, that will include a total prize pool of 1 million RKT. Meanwhile, new users that register before the 17th of August will benefit from zero trading fees until the 14th of September,” said Nick Cowan, CEO of the Gibraltar Blockchain Exchange.
