Gibraltar Stock Exchange has revealed its plans to fully integrate blockchain technology into its operational processes, thereby becoming one of the world’s first regulated exchanges to do so.
The announcement was made alongside a new shareholder, Cyberhub Fintech Holdings Limited, which has acquired a strategic ownership stake of the share capital of GSX Group, the parent of GSX Limited, which operates the Gibraltar Stock Exchange. According to the official release, the investment marks the GSX’s commitment to expand its capital markets network and influence in Asia as well to fully integrate blockchain technology.
“We are delighted to have Cyberhub Fintech as part of our group. The transaction clearly demonstrates high confidence in the jurisdiction, despite Brexit, as well as recognition of the Government of Gibraltar’s and the Gibraltar Financial Services Commission’s initiatives to establish Gibraltar as a global fintech hub. Our operational influence and network now extends to Hong Kong and Singapore and we look forward to working with Ben and the team to establish and grow an Asian–European capital markets pathway,” Nick Cowan, MD of GSX said.
Part of the Broctagon Group, Cyberhub Fintech is one of the most dynamic fintech groups in Asia. Benjamin Soh, Chairman of Cyberhub Fintech, expressed his optimism on being actively involved in the Gibraltar Stock Exchange’s plans to establish itself as the next generation global exchange.
The official release stated:
“The investment signals the Gibraltar Stock Exchange’s continued commitment to expand its capital markets network and influence in Asia as well as its ambition to become one of the world’s first regulated exchanges to fully integrate use of blockchain into its operational processes from ICO to IPO.”
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