Hydra X explores a potential partnership with the GSX Group - Hydra X
Hydra X explores a potential partnership with the GSX Group

January 24, 2019

Hydra X has entered into discussions with Gibraltar Blockchain Exchange (GBX), a leading token sale and digital asset cryptocurrency exchange, and Gibraltar Stock Exchange (GSX), a regulated exchange for funds and debt securities.

A potential partnership will see the integration of GBX and GSX with Sigma by Hydra X, an advanced multi-asset and multi-venue trading platform. This will allow users of GBX and GSX to view prices, transact and monitor their portfolios on the Sigma platform. Users will also have access to GBX as a regulated crypto-fiat onboarding ramp within Sigma itself, and GSX as a key venue within Hydra X’s security token network (subject to GBX/GSX’s KYC requirements). This is part of Hydra X’s strategy to expand its user base and capabilities.

“We are excited about expanding our ecosystem with these potential partnerships. The addition of these two partners would further demonstrate how Hydra X supports exchange-based trading by allowing seamless transactions and portfolio management across multiple trading venues. We are working to position Hydra X strongly for the rise of security token offerings,” said Daryl Low, CEO, Hydra X.

Nick Cowan, CEO of GSX Group said: “GSX Group is in the business of changing the way issuers and users, both retail and professional, gain access to funding. Through blockchain technology, we have seen a tremendous push towards mass adoption. The nascent technology can redefine the global financial system, providing greater liquidity, transparency, efficiency and speed. We believe that developing a strong framework that can incorporate those solutions into the capital markets is an exciting prospect. A potential partnership with Hydra X could provide our users with greater opportunities to gain enhanced liquidity and improve the user experience, which is an integral step toward mass adoption.”

About the GSX Group

The GSX Group, which includes the GBX and GSX, provides a full solution suite for issuers and traders in digital assets. Through its latest initiative, the STACS Protocol, the GSX Group aims to transform the traditional financial markets using blockchain technology. GBX and GSX are both regulated by the Gibraltar Financial Services Commission.