Gibraltar Stock Exchange Group Announces Joint Venture with Chong Sing Fintech and Prime Fintech Co. Ltd.

Gibraltar – November 14, 2024 – The Gibraltar Stock Exchange (GSX), geared towards establishing a trusted financial services group for the new digital era, has today announced a joint venture with the Hong Kong publicly listed company Chong Sing Fintech Holdings Limited and blockchain development company Prime Fintech Co. Ltd. to establish the group Hashstacs Inc..

“This joint venture represents a major step forward in realising the GSX vision to build a trusted global financial services group for the new digital era, facilitating more efficient scaling and deployment of solutions as the tokenisation of financial markets develops. I’m very excited to work alongside the esteemed teams at Chong Sing Fintech and Prime Fintech Co. Ltd. as we collectively strive for blockchain development excellence,” said Nick Cowan, Managing Director and Founder of GSX Limited.

As part of the collaboration, Hashstacs Inc. will be developing the Securities Trading Asset Classification Settlement (STACS) Protocol, a unique public/permissioned hybrid global blockchain that will support the issuance, trading, clearing and settling of digital securities. Additional projects on the STACS Protocol will include the building of a new exchange trading platform for the GSX, further development of the Gibraltar Blockchain Exchange (GBX) trading platform (a subsidiary of the GSX), and creation of the Hashstacs Enterprise Wallet, a secure and scalable multi-signature cold hardware storage solution that will enhance the field of digital assets custody.

The STACS Protocol is designed to radically transform the capital markets with Distributed Ledger Technology (DLT) while enforcing the best standards accepted by regulators in an open, transparent, and inclusive environment. The protocol is geared towards encouraging all stock exchanges, investment banks, brokers and dealers, and other qualified financial institutions to join for free as verified partners, while providing advantages to both issuers and investors globally.

“The GSX Group was an early supporter of the potential of DLT to provide issuers and investors with the ability to list and trade tokenised securities. The STACS Protocol is a significant development for the wider blockchain ecosystem, supporting the issuance, trading and settling of digital securities. We encourage other institutions to capitalise on this opportunity and join the network of Verified Partners that we are already building to provide their services using the STACS Protocol,” concluded Cowan.

About Chong Sing Holdings FinTech Group Limited

Chong Sing Holdings FinTech Group Limited (“CSF”, stock code: 8207.HK) is a leading integrated FinTech group with a focus on providing 24 x 7 online financial services to SMEs, merchants and individuals in China and Asia through internet and mobile solutions. CSF Group is principally engaged in four business areas: Asia Payment, Technology-enabled lending, Blockchain, Traditional loans and Financing services.

About Prime Fintech Co. Ltd

Prime Fintech has already previously been in the blockchain development space with successful implementation of enterprise blockchains in the fields of financial industry, logistics and supply chain, asset-backed securities industry, data assets, loyalty points, accreditation, and have enabled enterprises to adopt the blockchain within their businesses.

About GSX Group

The GSX Group comprises of the Gibraltar Stock Exchange (GSX), Gibraltar Blockchain Exchange (GBX), Juno Services and the Blockchain Innovation Centre (BIC). The Group’s ecosystem of companies aims to establish a new era of blockchain powered finance, by providing a full-service suite to its clients. The efforts of the GSX Group are helping to bridge the gap between traditional finance and the developing blockchain industry, facilitating the move towards mass adoption and institutional participation.