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Ripple XRP added to GBX Crypto Exchange
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The Gibraltar Blockchain Exchange (GBX) added support for Ripple's XRP trading on its Digital Asset Exchange (GBX-DAX).
Launched last year by the Gibraltar Stock Exchange (GSX), GBX is an institutional-level token sales and digital resource exchange platform. In November 2018, GBX received a full license as a supplier of distributed led technology (DLP) from the Gibraltar Financial Services Commission (GFSC).
The GBX-DAX platform, launched in July 2018, is an exchange of digital resources based on best practice and good institutional governance, derived from the experience of capital markets gained through the Gibraltar Stock Exchange. Currently, the platform has a total of 11 tokens listed, including bitcoins, ethereum, native tokens for GBX RKT and XRP.
Nick Cowan, Managing Director and founder of GSX Group Limited, said he added XRP to the platform because he believes Ripple is a major player in the blockchain business.
"Similar to our work at the GSX Group, it aims to reformulate old methods of finance and banking, transforming payments through blockchain technology," Cowan said. "XRP is a globally negotiated token and, joining the GBX-DAX, further extends its liquidity and reach".
Ripple is built on a distributed open source protocol and supports tokens that represent fiat currency, cryptocurrency, commodities or other valuable units such as frequent flier miles or mobile minutes. XRP, the cryptocurrency used within the Ripple ecosystem, is a source of liquidity for its customers, including important institutions such as Santander, Standard Chartered and American Express.
"" In November of last year, we were granted a full license to operate with the Gibraltar Financial Services Commision (GFSC) and, subsequently, we introduced insurance coverage for the activities listed on the GBX-DAX ", stated Cowan. "As we move towards 2019, we plan to take advantage of this momentum with the new digital assets listed on the GBX-DAX, with Ripple as the first of these new tokens."
