The UK Overseas Territory of Gibraltar launched its Gibraltar Blockchain Exchange (GBX) July 23, a press release confirmed, opening up cryptocurrency trading.
The GBX was first announced by the Gibraltar Stock Exchange at BlockShow Asia conference in November 2017
GBX, which will ultimately function as a multifaceted ICO and trading ecosystem, currently offers three crypto-to-fiat pairs: Bitcoin (BTC), Ethereum (ETH) and its own Rock (RKT) token to USD. CEO Nick Cowan commented in the release:
“The launch comes at a time when the cryptocurrency and token markets are reaching a new stage of maturity.”
The move preempts Gibraltar’s plans to enact formal ICO regulations which could open up the tiny peninsula to a host of ICO activity.
In March, GBX claimed it had already received interest from around 200 ICO operators, a number almost equal to the entire ICO cohort of 2017.
Gibraltar has also been active in blockchain regulation, with the Gibraltar Financial Services Commission (GFSC) in December announcing what it described as “the first instance of a purpose-built legislative framework for businesses” which are “craving” regulatory support.
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