Gibraltar is cashing in fast forward the rise of crypto markets. The Gibraltar has introduced the lavish benefits for the investors in crypto to base their services on the island. The wooing and the steps taken are paying off.
Recently, a new crypto platform is introduced in Gibraltar which is targeting the institutional investors. The chief clientele of the move are European institutional investors. The entity is called Gibraltar Blockchain Exchange aka GBX.
GBX has introduced nearly three hundred account holders. These accounts holders name overlaps with the institutional European investors. It is to be noted that GBX is a branch of the Gibraltar Stock Exchange.
Gibraltar Stock Exchange wants be the pioneer in the digital currency exchange mechanism. In order to attract even wide clientele, it needs the EU on its good side. The attraction of the institutional investors form Europe seems to be the step in that direction.
This step has not gone unnoticed in the Europe. The initiative has already got backings from almost ten companies including Blockchain Worx. The clients have been granted full access in order to gauze the user experience and further develop the platform based on their feedback.
GBX Chief Executive officer Nick Cowan said that the soft launch of the platform has ensured the continuity of the possibility towards providing an institutional grade token sales. These tokens will be spring board for utility tokens.
He further commented that the exchange will facilitate top quality digital asset exchange for the global Blockchain communities. Gibraltar is known for its favorable crypto regulations.
The Gibraltar Parliament has voted unanimously to introduce amendment into the Financial Service Act to introduce crypto regulation last December. The bill went into effect from 1st January 2018 and protected the customers and crypt businesses alike.
Gibraltar is known for hosing huge chunk of European financial services markets and is a known gaming hub. The country has a reputation when it comes to the subject of tax heaven.
But ironically the countries designated as tax heaven have been smartest when it comes to crypto regulations and made huge profits on the back of their positive regulations.