The Gibraltar Blockchain Exchange has announced it will issue $6m worth of digital ‘Rock Tokens’ at an online token sale event next month.
Rock Tokens [RKT] will be issued via the cryptocurrency Ethereum’s ‘blockchain’ technology.
The week-long event will see GBX issue 60m RKT worth $6m between February 7 and 14.
The company announced it has a “highly successful” pre-sale period that concluded in December 2017 and was oversubscribed with 210m RKT sold, amounting to $21m.
Proceeds from the GBX Token Sale Event have been earmarked primarily to further develop the company’s trading platform and facilitate the further expansion of the full GBX fintech ecosystem.
“We’re very excited to share the Rock Token with the world. Everyone at the GBX is fully committed to blockchain technology and its potential to change the way that people build their own projects,” said Nick Cowan, CEO of the Gibraltar Blockchain Exchange.
“We invite you to join us on our journey and to join the community we’re building.”
GBX aims to be one of the world’s first licensed and regulated token sale platform and digital asset exchange operated by a EU regulated stock exchange.
The company also aims to develop the capacity to be able to support projects at any stage of their development covering all of their business service needs.
GBX intends to set a higher standard for token issuance and trading for the benefit of all market participants.
“The introduction of rules-based systems is necessary if the blockchain sector is to reach maturity and if actors are to be assured of market stability said Mr Cowan.
“Based upon principles of decentralisation and community consensus, the GBX seeks to create a new era of trust, openness and global acceptance for the crypto industry, one quality token listing at a time.”
The company added it will benefit from Gibraltar’s Distributed Ledger Technology Regulatory Framework which came into effect earlier this year.
“The sale of RKT in tandem with a widespread user-base will help the GBX achieve its intention of becoming a world-leading, institutional-grade token sale platform and cryptocurrency exchange,” Mr Cowan said.
“To see such overwhelming support for our project already in our successful presale period is both inspiring and humbling. The GBX is working to lay the foundation for the global expansion of a regulated cryptocurrency market with all proceeds raised in our token sale event helping further this vision and make it a reality.”