A derivatives fintech has taken a stake in Gibraltar's stock exchange. The trading operator wants to be the first to fully suffuse blockchain into trading.
GSX, which owns and operates the Gibraltar Stock Exchange, said on Friday that Cyberhub Fintech Holdings Limited is a new strategic shareholder. Cyberhub is a unit of Broctagon, a derivatives trading technology provider.
Terms of the deal weren't disclosed.
The move illustrates Gibraltar's desire to expand in Asia as well as to establish itself as a fintech center. The stock exchange also wants to become the world's first to fully integrate blockchain technology.
Brexit Uncertainty
Gibraltar belongs to the U.K., where a vote to exit the European Union has raised questions over economic ties to the bloc.
«The transaction clearly demonstrates high confidence in the jurisdiction, despite Brexit, as well as recognition of the Government of Gibraltar’s and the Gibraltar Financial Services Commission’s initiatives to establish Gibraltar as a global fintech hub,» said Nick Cowan, head of the Gibraltar stock exchange.
