Gibraltar Blockchain Exchange Adds Five New Stable Coins

Gibraltar Blockchain Exchange Adds Five New Stable Coins
ôîòî ïîêàçàíî ñ : cryptobriefing.com

2019-3-13 17:39

The Gibraltar Blockchain Exchange (GBX) has announced the addition of five new stable coins to its platform. As the first licensed, insured, and state approved digital asset exchange to be regulated by the European Union, the GBX provides blockchain trading and custody solutions with high net worth, institutional  investors in mind.

The decision to add stable coins, which are pegged to the value of fiat currency, is intended to attract affluent investors with low risk profiles. These are investors who want to enter the blockchain space, but still transact in a familiar asset. The tokens added include:

Paxos (PAX): A US dollar pegged token and custody solution with monthly audits. Gemini Dollar (GUSD): Another dollar based stable coin and ERC20 token built by crypto exchange Gemini using the Ethereum network. Maker (DAI): A stable coin with value equal to the US dollar, but not backed by it. The Maker token DAI is backed by a diversified portfolio of collateralized assets, making it in effect more stable than the US dollar. TrustToken (TUSD): TrustToken is a US dollar-backed stable coin listed on several exchanges, it provides legal protection for its users, as anyone who can pass a KYC/AML check can transact in this token. USD Coin USDC: USD Coin is an open-sourced, smart contract stable coin based on the Ethereum platform. It was created by Circle, another institutional grade blockchain service backed by Goldman Sachs.

Regarding the addition of stable digital assets,Nick Cowan, Managing Director and Founder of the Gibraltar Stock Exchange said:

“Stablecoins provide an attractive proposition to market participants who want to harness blockchain technology to transact in familiar, more accessible currencies and assets”

GBX is also the first cryptocurrency exchange to be owned by another traditional stock exchange: the Gibraltar Stock Exchange. As such, it has made legal and regulatory compliance a standard, and has received a full DLT (Distributed Ledger Technology) license from the Gibraltar Financial Services Commission as part of its operating procedure.

With institutional grade organizations joining the blockchain party, and in some cases leading the way, the time when cryptocurrency was a Millennials-only movement may be fast coming to a close. The fact that the Gibraltar Blockchain Exchange, Nasdaq, Circle, and others are building infrastructure around digital assets could herald a new wave of institutional capital to enter the space.

Or as Cowan himself puts it:

“We are accelerating our efforts to facilitate mass adoption of a tokenised global economy.”

The author is invested in digital assets, but none mention in this article.

Join the conversation on Telegram and Twitter!

The post Gibraltar Blockchain Exchange Adds Five New Stable Coins appeared first on Crypto Briefing.

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