Gibraltar is fighting to claw back its title of the original, blockchain island in a huge way. It has just launched its new blockchain exchange, a fully regulated and audited crypto exchange designed to be the blockchain equivalent of the Gibraltar Stock Exchange.
The Gibraltar Blockchain Exchange (GBX) allows investors and traders to deposit in fiat currencies and trade crypto markets. While Malta is allegedly working on a similar platform, Gibraltar has once again beaten it to launching the product. Back in January Gibraltar regulated the blockchain world and Malta followed by adding blockchain regulations in November. Despite being late to the party, Malta constantly claims to be the first – which is obviously a loose claim at best.
Making Use of Market Leading Technology
When it comes to the power under the hood, the GBX hasn’t spared any expense. It comes kitted out with the latest know your customer (KYC) and anti-money laundering (AML) specifications, along with deep liquidity pools for instant trading. Its features and technology is comparable with leading crypto exchanges from around the globe, all rolled into a regulated blockchain environment.
GBX has also rolled out an intuitive and easy to use mobile app for traders on the go. Finally, crypto traders can trade from their mobile when they are on the go, while still holding the private keys to their crypto – remember, if you don’t hold the private keys, it’s not your crypto.
Gibraltar Stepping up its Game
Gibraltar doesn’t do second best, it’s a pioneer and has been for a number of years. It pioneered iGaming legislation, which Malta was quick to adopt and follow. To help position itself as the true blockchain island, the University of Gibraltar has created blockchain educational courses to develop the next generation of blockchain entrepreneurs and workers. By educating the next generation about blockchain technology and its advantages, Gibraltar is hoping to become a hotbed for home-grown blockchain talent – something there is a vast shortage of around the world.
Crypto and Football Go Hand-in-Hand
Earlier this year, Gibraltar FC started paying part of its player’s salaries in cryptos. Paid partially in Quantacion, the football team is showing that cryptocurrencies have a purpose and future – a huge step towards mass adoption. This is the first season the partial crypto payments have appeared in the football world, and if it’s a success then next season all of Gibraltar FC player wages could be paid in crypto. Now the players have access to a home-grown and fully regulated crypto exchange, they can get their hands on any crypto they want with their wages.
The GBX is the first government backed and approved crypto exchange in the world. It will draw a new class of investor to the crypto trading world and will keep Malta on its toes. Malta’s very own government-backed crypto exchange is still a few months out, let’s see if it claims to be the first upon launch.