CEO Fortnightly Message 22/03/19Dear Community,
As many of you have seen, we have been making some significant progress in building the trading experience for our users on the GBX-DAX. We have some interesting developments that will further enhance the user experience in the pipeline, and as always, our community will be the first to know. We champion our core values of institutional-grade standards, the fact we are licensed and regulated, coupled with the safety of our clients assets as a top priority, through our insured, multi-sig, cold wallet operations. All those elements are key to a strong foundation for our long-term success, but our focus must now be on user adoption and experience, watch for updates concerning this endeavour soon.
Our community, as part of our journey, have offered tremendous support to the GBX, and wider GSX Group. They have shared our content, registered accounts, visited our stands at events and even visited our offices (i’m looking at you, @Wtiger1 & @Sozmax!), we want our community to share in the success of the GBX, at every step of our progress. We also want to continue to grow our community, which we can do through our referrals programme (
https://gbx.gi/referral-rewards-programme/), if you support our efforts, you can do so while gaining STACS rewards in return, and together we can build an exchange for the future.
Here are some key features since my last update, plus a few words from me on the future of STACS and the GSX Group (
http://gsxgroup.gi/) ecosystem:
GBX-DAX listed Five Stablecoins - PAX, DAI, USDC, GUSD, TUSDAs I mentioned above, we are diligently working on providing our users with top-tier digital assets, and now we have listed some of the biggest stablecoins in the market. Stablecoins are fast becoming a highlight within the token economy, you can read more about our listings here (
https://gbx.gi/news/gbx-dax-to-list-five-stablecoins/).
GSX-Group Developments and the STACS tokenSince the creation of our Telegram group for GBX, our companies under GSX Group have gone from strength to strength. You may have noticed that I have talked more about areas outside of GBX, such as GSX and the STACS Network. The GSX Group, as a whole, is on the brink of some major advancements, and the STACS token, our utility token that fuels that Group ecosystem, plays a significant role in those advancements. More will be revealed when the timing is right, but I wanted to give you all a short update on some of the areas in which GSX Group has developed in recent months. I know markets are tough, and the stacs token price has been under pressure - but we see an expansion of the utility over the next few months as we build out our STACS network.
The Gibraltar Stock ExchangeToday, GSX (
http://gsx.gi/) provides technical listing in debt and funds, traditional avenues which have begun to gain real traction; with our value and speed to market we are seeing much higher levels of engagement from the larger institutional players (we recently admitted a $55 bln debt program from Morgan Stanley). However, we firmly see that the future lies in the tokenisation of securities, or smart securities as we call them. In order to develop our own digital exchange, the team within our tech subsidiary Hashstacs have been working literally 24/7 to prepare the STACS technology for roll out.
I’ve mentioned before on the successful launch of a ‘demo bond (
https://www.gsx.gi/article/9465/the-gibraltar-stock-exchange-gsx-uses-new-blockchain-protocol-to-deploy-demo-bond)’ on the STACS Network, we were pleased with the initial results, and we will be further developing GSX to become one of the first stock exchanges to offer digital securities in the world, more on this soon (we hope to announce something in the next week or so!)
Juno ServicesOur fund administrator, Juno Services (
http://juno.gi/) has seen rapid growth with a large number of client take-ons. We see Juno as a vital part of our eco-system whereby we can open companies, on board asset managers, provide immediate banking facilities in Gibraltar and of course, provide administration services to fund managers. This forms an important part of our ‘turn-key’ solution for clients, particularly as we look at facilitating ETF issuers seeking a digital solution.
HashStacs Inc. Our technology subsidiary, Hashstacs Inc. (
http://hashstacs.io/) has been working hard to develop the STACS Network and has been actively engaged with exchanges and investment banks to build out the Securities Trading Asset Classification Settlement (STACS) Network, which we believe will transform capital markets. Our dedicated team of 40+ developers have been working around the clock to prepare the technology for a full roll out. We will begin to make some strategic announcements over the next few weeks and months. Please make sure you see our STACS lite paper (
https://stacs.io/images/stacslitepaper.pdf) which tells you why we think what we have built is so awesome!
Fort CapitalFort Capital was acquired by the GSX Group this month and is a UK FCA licensed (MiFID) dealer broker. Fort is regulated to provide both arranging and dealing services to professional and retail customers for a wide range of regulated products.
Within all these companies under the GSX Group (
http://gsxgroup.gi/) umbrella, the STACS (
http://stacs.io/) token will become a key part of payments, unlocking discounts, rewards, early access and a host of other opportunities within each company, enhancing the tokens utility for everyone.
To give you an example of why we believe our model is so unique? Take an asset manager who wants to issue a tokenised ETF?
Subject to regulatory approval, here’s an example of how we see what we can do:
1) Incorporate the company and set up the fund (we do that in Juno!)
2) Administer the fund and set up the required functions (we do that in Juno!)
3) Act as licensed registrar (yes…..we do that in Juno!)
4) Open a bank account for the fund (we can do that…..)
5) Programme the smart contract using STACS (GSX will do that)
6) List the tokenised fund units on our exchange (GSX will do that)
7) Distribute the fund through our UK broker dealer (Fort Capital)
A turn-key solution for the tokenisation of an ETF! How cool is that?
GSX Group — Blockchain in Financial Services EventWe continue to push the GSX Group’s offering, hosting our own events, this time during the Asia Crypto Week, in Hong Kong. You can read more about the event, and our Executive Director Ben Soh speaking, here (
https://gbx.gi/news/gsx-group%E2%80%8A-%E2%80%8Ablockchain-in-financial-services-event/).
That concludes our rather lengthy fortnightly message, I hope you have gleaned an insight into the incredible potential of our roadmap for the GSX Group, as we build a future of blockchain powered finance.
Nick Cowan
CEO - GSX Group
