Sunday, 05 July 2020

Hastac Partner up with Global-X to Facilitate Token Issuance

One of Gibraltar’s stock exchange subsidiary’s, Hastac have announced they will team up Singaporean firm Global-X to facilitate the issuance of tokens.

The news was announced on the stock exchange’s website on Friday and detailed their intention to provide stock exchanges and financial institutions to tokenise their assets. In the hope that it will boost trading, clearing and a setting of digital securities, in what has been known dubbed, the ‘DLT Exchange-in-a-Box’. It is supported, as per the post, “2multi-factor authentication and military-grade encryption.”As such, things will be well looked after when it is properly rolled out.

Nick Cowan, CEO of the GSX Group, “As interest in tokenised securities continues to grow globally, we are glad to partner with STO Global-X to create and offer institutions a powerful technology platform to issue, manage & trade securities on DLT. We view this as the bedrock towards supporting other traditional financial functions in the areas of treasury, wrapped products and more.”,

While Floyd DCosta, CEO at STO Global-X, stated, “Operating at the junction of traditional finance and innovative financial technologies, security token exchanges will radically transform the capital markets world. We are eager to work with institutions like the GSX Group to build the necessary infrastructure and lead in this new digital tokenised securities paradigm.”

This will see the firm follow in the footsteps of a fellow subsidiary of the exchange, GBX who have recently guaranteed all the assets available on their platform are insured via a local firm, which protects both hot and cold wallets. Gibraltar’s clearing setting up the infrastructure well for investors.

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