The Gibraltar Blockchain Exchange (GBX) is set to transfer its business, customers and technology to Estonia in order to retain “a consistent presence in Europe.”

GBX is an institutional-grade token sale platform and digital asset exchange. A subsidiary of the Gibraltar Stock Exchange Group (GSX Group), GBX was granted a full licence as a provider of Distributed Ledger Technology (DLT) from the Gibraltar Financial Services Commission (GFSC) in November 2018.

GBX Limited will now surrender its DLT Provider’s license and will no longer be regulated by the Gibraltar Financial Services Commission. 

Nick Cowan, Founder and CEO of the GSXGroup, commented:

“As we continue to improve the service offering in our Exchange Division, GSX Group needed a consistent presence in Europe, with Estonia being an appealing country that in our view takes a progressive approach to DLT. Within our ecosystem, GBX is a core component and a key gateway for institutions to enter the digital asset space; our intention is to revamp and re-double our efforts to further enhance the trading experience and service offerings in this fast moving landscape.”