To keep our community informed of the activities of GSX Group, we have begun a monthly newsletter, covering all the business lines within the growing Group ecosystem. Alongside recent updates, we thought it would be prudent to look back over the first half of 2019 and reflect on some of the achievements made by GSX Group and its subsidiaries.
H1 2019 Recap
Thought Leadership — GANT
In January Nick Cowan, CEO of the GSX Group was elected to the executive committee for Gibraltar Association of New Technologies (GANT). The GSX Group has worked diligently in generating the promotion, support, and adoption of blockchain technology in Gibraltar and globally.
New Frontiers — Digital Listing on GSX
The Gibraltar Stock Exchange (GSX) aims to be one of the first traditional stock exchange’s to utilise the innovative power of blockchain technology. In April, we announced that the GSX was set to become among the world’s first stock exchanges to offer the listing services of digital debt securities and digital funds.
Since that historic announcement, GSX can now offer the possibility to list, in ‘digital or ‘tokenised’ Corporate Bonds, Convertible Bonds, Asset-Backed Securities, Derivative Securities, Open-Ended Funds, Closed-Ended Funds, utilising Distributed Ledger Technology (DLT), under its current licensing permissions, on the GSX Global Market (GM).
Bridging the Gap — Partnerships
As part of our aim to bridge the gap between traditional finance and the emerging token economy, GSX Group has been entering into partnerships with organisations that follow the same goals and ethos in this endeavor. The GSX Group and STO Global-X began a partnership to collaborate on tokenised securities exchange technology. Additionally, representatives of GSX Group cut a ceremonial ribbon that marked the launch of the international Cooperative Organisation for Security Token Offerings (STOCOOP) in Seoul, South Korea. In July we announced that the GSX will be collaborating with Bitbond, a lending platform and parent company of Bitbond Finance, responsible for issuing the first licensed security token in Germany.
A True Fintech Ecosystem — Group Enhancements
Earlier this year the Gibraltar Stock Exchange deployed a successful demonstration bond issuance, utilising the Securities Trading Asset Classification Settlement (STACS) Network. The success of this demonstration is another significant advancement towards the issuance, trading, clearing, and settling of Digital Securities for the GSX.
We also launched the GSX Group Account Centre, linking our clients to the Group ecosystem. Future developments will see more GSX Group businesses utilise the GSX Group Account Centre for client on-boarding, bringing greater functionality and cross-platform interoperability.
Institutional Pivot — Aligning GBX
As many of you in the community are aware, the GBX recently underwent transformational changes to further align its objectives and supportive functions with the GSX Group. The move from a retail business model, to an institutional focus, enabled GBX to further compliment the GSX Group’s wider services.
If you have any queries or questions relating to these changes, please contact support@gbx.gi
Fresh Perspectives — New Juno CEO
In June, Frederick Kanyike was appointed the new CEO of Juno Services, one of the largest fund administrators in Gibraltar. Since Fred has taken over the operations of Juno, he shared his experiences after one month on the job as CEO, which you can read about here.
Global Coverage — GSX Group Events
As always the GSX Group team have been traveling to events across the world, showcasing the full solution suite that GSX Group can provide clients. Nick Cowan, CEO of GSX Group, took to the stage at the Security Token Future Global conference in Singapore and at the Paris Fintech Forum. The business development team made their way to the 23rd annual Global ABS conference, of which GSX Group was a sponsor. Aymeric Bruneau, Business Development for GSX attended the Security Tokens Realised event in London to deliver a comprehensive overview of the GSX Group’s STACS Network. In Hong Kong, at the Blockchain in Finance Services Event, Benjamin Soh explored the future of financial institutions and global interoperability by introducing the STACS Network to attendees. Recently GSX Group were back in Hong Kong at the RISE2019, one of the largest tech conferences in Asia.
The GSX Group team have targeted some other key events for 2019, including attending Web Summit for the 3rd consecutive year, one of Europe’s largest tech conferences.
In the Works — GSX Group Current Updates
The GSX Group and it’s business lines are constantly working on improvements and initiatives, here is a high level ‘snap-shot’ of what the Group business lines are currently involved in:
- On the tech side, Native STACS is soon to be delivered to the GSX Group for UAT (User Acceptance Testing) during this month.
- Our application process for new functionalities of OTC (Over the Counter) services and custody solutions is underway for GBX.
- Our intention is to soon announce the revamped utility aspects of the STACS token for the GSX Group ecosystem, our team has been working diligently to perfect and review the intricacies of the utility of our token, for the benefit of holders and the ecosystem at large.
- Fort Capital Solutions has been part of a team developing a new structure which aims to be launched in September. Working alongside the rest of the Group subsidiaries, the project is well underway and looks to make a significant impact on the adoption of blockchain technology in the financial markets.
- The GSX has seen an increase in the number of Member Firms, with more applications and approvals in the pipeline. These Member Firms will support issuers in their listing journey on either our EU regulated market (Main Market) or licensed MTF (Global Market).
- The GSX legal team have also been working long hours on the license applications to enable the stock exchange to move into the listing and trading of equities, in both traditional and tokenised form.
That’s the round-up for this month’s GSX Group Community Newsletter, as always we want to thank our community members and followers for the support in our growing business, as we strive to bring about a new era of blockchain-powered finance.
