The Gibraltar Stock Exchange and Bitbond, issuer of Germany’s first security token, plan cooperation
The Gibraltar Stock Exchange (GSX) and Bitbond are in discussions regarding a future cooperation. GSX, a regulated and active securities exchange, in April announced its plans to be among the world’s first stock exchanges to offer the listing services of security tokens, digital debt securities and digital funds. Bitbond, the global business lending platform, is the parent of Bitbond Finance, the issuer of Germany’s first licensed Security Token. Both parties are exploring synergies, with the goal of forming a partnership relating to security tokens.
Bitbond Founder & CEO Radoslav Albrecht said: “STOs are the next logical evolution of the financial industry. At Bitbond we’re super excited to be able to pave the way for the market to develop in Europe. At the same time we’re proud at the prospect of working together with such a well respected and established partner like GSX.“
GSX Group CEO, Nick Cowansaid: “To our knowledge, so far no other European exchange or marketplace has listed security tokens that can be traded by the general public. In order to offer the trading of tokenized securities, exchanges have to fulfil a number of regulatory requirements and provide the necessary technical infrastructure. We are hard at work to make this happen at GSX, utilising our blockchain technology solution, the STACS Network.”
In another first, Bitbond’s BB1 tokens have received an ISIN (DE000A2TR7Q2) provided by the WM Gruppe. The tokens have a face value of one Euro and can be purchased by interested investors until early July. BB1 was the first token with a prospectus approved by the German financial regulator, BaFin.
The tokens allow investors to participate in the success of the business loans brokered by Bitbond. BB1 has a maturity of 10 years, but can be bought and sold throughout this term after trading commences.
The funds raised in the BB1 token offering serve two purposes: First, capital will be used for Bitbond’s core business of providing working capital financing to small business owners. Additionally, Bitbond will further develop its global platform for business loans. This includes advancing innovations in the fields of blockchain-based payments and automated credit scoring.
Bitbond is the first global lending platform for small business loans. The company leverages blockchain technology to connect creditworthy borrowers with individual and institutional investors from over 120 countries.
BB1 is Germany’s first security token offering with a prospectus that is compliant with EU prospectus regulation and is supervised by the German financial regulator BaFin.
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Open since 2014, the Gibraltar Stock Exchange (GSX) is one of the youngest exchanges in the world, providing a unique listing process, with an unparalleled speed-to-market for issuers. The GSX, as part of the wider GSX Group, pioneers in new technologies to improve efficiency and reduce cost within capital markets. Currently operating a Main Market (EU) and Global Market (MTF), listing funds and debt securities, with the intention to achieve a license extension to trade equities in 2019, the GSX aims to become the first fully blockchain-enabled stock exchange, trading in tokenised securities.
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