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Gibraltar Blockchain Exchange to list five stablecoins on GBX-DAX

Tue, 12 Mar 2019, 11:53 am UTC

The Gibraltar Blockchain Exchange (GBX) has announced that it has added support for five stablecoins to its Digital Asset Exchange (GBX-DAX).

According to the official release, Paxos (PAX), Maker (DAI), TrustToken (TUSD), USD Coin (USDC), and Gemini dollar (GUSD) will be available for live trading on the GBX-DAX from Wednesday, March 13th. Ahead of live trading, the exchange has granted users immediate access to deposit stablecoins into their GBX-DAX accounts.

“Adding five stablecoins is another landmark statement of intent for the GBX as we continue to extend the landscape of blockchain-powered trading to the world,” Nick Cowan, Managing Director and Founder of the GSX (Gibraltar Stock Exchange) Group Limited said.

“Stablecoins provide an attractive proposition to market participants who want to harness blockchain technology to transact in familiar, more accessible currencies and assets, and I’m excited to introduce these new trading options to our growing community.”

The GBX will offer users 30 days fee-free trading for stablecoins listed on the GBX-DAX, starting on Wednesday, March 13th, and concluding on Thursday, April 11th. Each of the five stablecoins will be paired against ETH, BTC, and USD fiat currency.

Since obtaining a full DLT Licence from the Gibraltar Financial Services Commission (GFSC) in November 2018, the GBX-DAX became the first regulated and insured Digital Asset Exchange to be owned by a traditional stock exchange, the Gibraltar Stock Exchange (GSX).

GBX-DAX has added support for a number of cryptocurrencies this year, including OST, Stellar Lumens (XLM), Tron (TRON), ICNQ, Ripple (XRP), EOS (EOS), NEM (XEM), OmiseGO (OMG) and others.

Earlier this month, the GSX Group announced the successful deployment of a GSX Digital Stock Exchange prototype and a demo bond issuance, on the Securities Trading Asset Classification Settlement (STACS) Network’s Global TestNet.

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