The Gibraltar-based Exchange Now Offering XRP Markets In Five Pairings.

By Rishma Banerjee

According to recently published reports, Gibraltar Blockchain Exchange (GBX) has announced the addition of XRP to Digital Asset Exchange (GBX-DAX).

GBX-DAX, which has been described as “an institutional-grade, regulated and insured token sale platform and digital asset exchange,” has been operational since the month of July last year. Their main goal is to fulfill the needs of professional crypto traders and cater to the high expectations of professional crypto-traders. GBX combines being a cryptocurrency exchange and an ICO marketplace, vetting for advertising and sponsorship that sits within established guidelines.

The parent company of this exchange is the Gibraltar Stock Exchange Group Limited, whose Managing Director and Founder, Nick Cowan describe Ripple, which is a cross-border payments specialist as “a major player within the blockchain industry”, adding that “XRP is a globally traded token and by joining the GBX-DAX it further extends its liquidity and reach.”

The exchange, at 9.30am this morning, began trading with their new coin, the first pairings of which are with the US dollar, Bitcoin and Ethereum, the Pound and the Euro. XRP becomes the 12th, cryptocurrency to be listed by GBX-DAX.

The Exchange also reported that there was a tremendous amount of interest from tokens and ICOs as it worked towards its launch, as many are looking towards using Gibraltar’s framework in order to regulate ICO tokens as a commercial product.

Cowan continued and said:

“In November last year, we were granted a full license to operate by the Gibraltar Financial Services Commision (GFSC)… Following this, we introduced insurance coverage for assets listed on the GBX-DAX. As we move into 2019, we plan to build on this momentum with new digital assets listed on the GBX-DAX, with Ripple as the first of these new tokens.”