The GRID has deployed its first digital shares on behalf of digital advertising platform tribeOS.
GRID, the GSX Group‘s venue for the creation and deployment of digital securities, has provided services to its first client, digital advertising platform tribeOS, in the successful creation and deployment of digital shares. The digital shares creation and deployment utilized the GSX Group Native STACS network, a proprietary blockchain designed to bring solutions to the cumbersome and costly legacy infrastructure of the capital markets, establishing a new era in blockchain-powered finance.
Commenting on the announcement, Nick Cowan, CEO of the GSX Group, said, “We are excited to have completed the successful digitalization of tribeOS’s shares. tribeOS is the first issuer to utilize our GRID venue, and we look forward to welcoming further pioneering companies who wish to push the boundaries of innovation and accelerate the adoption of blockchain within the capital markets.”
The GSX Group is a capital markets ecosystem geared towards transforming capital markets and enhancing the interoperability of traditional financial structures through its integrated proprietary blockchain technology solutions. The GRID offers the technology to facilitate any ‘tokenization’ of traditional securities into digital securities.
The tribeOS digital advertising platform brings advertisers and publishers together to improve ad performance. The tribeOS platform uses blockchain to record secure and immutable transaction data resulting in a fully transparent and automated platform, providing advertisers and publishers with advertising tools for advanced fraud prevention, contextually relevant advertising placements, campaign management and optimization, as well as content monetization services.
In early 2019, tribeOS achieved the historic milestone of becoming the world’s first federally approved digital security offering. tribeOS’ FIRE shares were approved by the Bermuda Minister of Finance under Bermuda’s digital asset legislation. Investors in the digital security offering included Bitmain Technologies, the leading developer of Bitcoin mining products which includes ASIC Chip technology. The initial source of funding for tribeOS originated from Exponential Ventures, a venture capital firm focused on investing in high growth start-ups.
Matt Gallant, tribeOS’ CEO, said, “Using the GRID to create and deploy our shares in digital form allows for a quick and cost-effective route into the digital space. The tribeOS and GSX Group teams share a vision and ethos in promoting the many use cases that blockchain provides and driving greater adoption levels globally. We look forward to working with the GSX to achieve this collective goal.”
The recent launch of the GRID represents a centerpiece of the GSX Group’s vision to revamp Financial Markets Infrastructure (FMI) through technological innovation. Issuers are now able to utilize the GRID as a venue to enter the digital space.
“Our ambition is to deliver dynamic cost-saving solutions, broaden the accessibility of capital, and help issuers in terms of speed-to-market. We are working with other companies who intend to use the GRID to enter into the fast-developing world of digital securities. I’d like to thank tribeOS for putting their trust in us and the GRID. This is just the first step on the road to mainstream adoption,” concluded Cowan.