Gibraltar Blockchain Exchange lists NEM’s XEM token on GBX-DAX

The Gibraltar Blockchain Exchange (GBX) has added support for XEM, the native currency of the NEM public blockchain, on its Digital Asset Exchange (GBX-DAX).

According to the official release, XEM was brought to the GBX-DAX by the Sponsor Firm Techemy and will have trading pairs with USD, BTC, and ETH on the GBX-DAX.

“The NEM project is spearheading the drive for mass adoption of blockchain and digital assets by reducing the cost and barriers to entry for established enterprises — a goal that is reflected in our own objectives,” Nick Cowan, Managing Director and Founder of the GSX (Gibraltar Stock Exchange) Group Limited said.

“The listing of XEM on the GBX-DAX is further demonstration of our commitment to introducing strong, viable trading opportunities to our community of users.”

XEM is currently among the top 20 cryptocurrencies by market cap. It is used for transaction payments in order to incentivize the network of public nodes on the NEM blockchain.

NEM enables users to quickly and easily create custom assets and its blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain delivers industry-leading transaction rates for internal ledgers, the release said.

“We are delighted to have XEM listed on the GBX, as a regulated exchange, with insurance. It is a great opportunity for the NEM community to trade XEM and safely store their digital assets with confidence,” David Mansell, Co-Founder and Director at NEM Ventures said.

“We believe the NEM project is key to bringing about greater Blockchain adoption, their core values are aligned with those of GBX and we look forward to building a tokenised future together.”