The Gibraltar Stock Exchange decided to incorporate Blockchain into its trading system. How will Gibraltar Stock Exchange Blockchain integration plan work?
4 August, AtoZForex – The key securities exchange of Gibraltar, the Gibraltar Stock Exchange (GSE) has informed the public about its Blockchain integration plan. The authority plans to ‘fully integrate’ Blockchain into its trading and settlement systems.
Gibraltar Stock Exchange Blockchain integration plan details
Blockchain technology is taking over the world! Already, some of the financial giants have signaled they are ready to work with Blockchain. This July, 22 additional global banks have joined the SWIFT gpi Blockchain proof of concept (PoC). One of the latest green lights for Blockchain is Gibraltar Stock Exchange’s intention to integrate Blockchain’s phenomena into its trading and settlement systems.
To aid integration, the GSE also revealed a strategic partnership with a firm that goes under the name Cyberhub Fintech. The latter has become a shareholder in the exchange as a part of the agreement. Gibraltar Stock Exchange has issued the official statement:
"The investment signals the Gibraltar Stock Exchange's continued commitment to expanding 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 the use of blockchain into its operational processes from ICO to IPO."
Gibraltar government support Blockchain use
However, more details of Gibraltar Stock Exchange Blockchain integration plan still have to be released. Previous reports show that the securities exchange have already had the experience with Blockchain technology. Almost a year ago, the GSE has announced a launch of an exchange-traded instrument (ETI) tied to the price of bitcoin.
In addition, Gibraltar officials, a British Overseas Territory, has also expressed the positive stance in relation to the Blockchain use. Earlier this May, the Ministry of Commerce has issued a draft proposal that concentrates on Blockchain regulations for public commentary.
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