With so many of the financial transactions happening over the Internet these days, there is a greater need to improve securities offering. Hashtacs Inc., a subsidiary of the Gibraltar Stock Exchange (GSX) Group is partnering with STO Global-X to do just that.
The two companies have collaborated on the development of an integrated tokenized securities exchange platform that will enable stock exchanges and other financial institutions to create tokens for all assets, which should boost trading, clearing and the settlement of both digital and fiat currencies.
Hashtac has already been involved in the creation of securities related to tokens, but will now combine the tokenized platform and exchange technology that STO Global-X has created. Hashstacs’ Securities Asset Trading Classification Settlement (STACS) Network was developed specifically to provide greater efficiency and security for those holding digital assets. By being able to shorten the settlement cycles, protect digital assets and improve connectivity between networks, they have developed a system that will fit in nicely with the platform created by STO Global-X.
This new development will include an institutional-grade security token which will be exchanged during the trading and transfer process. The process will include multifactor authentication and a military-grade encryption system that will make it one of the highest level of security exchanges offered in the financial world today.
GSX has been setting themselves apart recently. In December, they announced that they would be providing insurance coverage for all listed assets on their Gibraltar Blockchain Exchange. This insurance would assure that the assets listed on the GBX Digital Asset Exchange would be insured against theft, fraud, or other nefarious acts.
This was an innovative step that separated GSX from many of their competitors, but it is clear that the advent of the new technology will help to make the Callaghan Insurance Group, the company providing the insurance protection, much happier.
This is quite extraordinary for GBX, which only launched operations in June of last year when they raised $27 million in funding. Once they began operating, it took a little more than 24 hours for them to register $1.5 million in trades and they have quickly moved to become one of the leading exchange and trading services on the market today.
The two companies will continue to combine their technologies in other areas of financial and commodities exchange services. They are looking to create the next generation of technology and tools that will enable them to be the leaders in this industry.
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