Gibraltar Exchange Launches the “Rock” Token

Gibraltar Exchange Launches the “Rock” Token

The Gibraltar Blockchain Exchange, a subsidiary of the Gibraltar Stock Exchange (GSX), has announced plans for its own ICO.

Set to run between February 7th and 14th, it aims to raise $6 million by selling up to 60 million Rock Tokens. Over two hundred million tokens have already been sold in a pre-sale.

The ICO will fund development of the “the world’s first licensed and regulated token sale platform and digital asset exchange.”

Legal LaunchPad for ICOs

The platform will combine trading with a launchpad for carefully vetted ICOS. Rock Tokens (RKT) will be used for trading on the platform, paying trading fees and gaining first access to new ICOs.

Gibraltar is getting a name for itself as one of the world’s friendliest locations for ICOs and cryptocurrencies. As part of a strategy to diversify its appeal in the run-up to Brexit, the British Overseas Territory is seeking to attract blockchain startups and ICOs.

Last month the Gibraltar Financial Services Commission (GFSC) announced new licences for blockchain companies. According to Nicky Gomez, head of risk and innovation at GFSC, this was “the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology.”

GBX’s CEO, Nick Cowan, believes that rules and regulation are needed to reassure investors and help the industry to develop. In a statement he said that “the introduction of rules-based systems is necessary if the blockchain sector is to reach maturity and if actors are to be assured of market stability.”

GBX is billing itself as “The Crypto Harbour”, and hopes to “create a new era of trust, openness and global acceptance for the crypto industry.” All eyes are on this tiny territory to see if they can pull it off.