Cryptocurrency

OMG Token by OmiseGO Gets Listed on Crypto Exchange GBX-DAX

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GBX or Gibraltar Blockchain Exchange has been continuing its consistent efforts of including support to new cryptocurrency tokens on GBX-DAX, its platform for Digital Asset Exchange. The latest entrant on the platform is OmiseGO token (OMG), as per the official reports published on 27th February. The platform will have OMG tokens being traded in pairs with ETH, BTC as well as the USD.

The founder and managing director of the Gibraltar Stock Exchange (GSX) Group Limited, Nick Cowan, said in his official statement that the team of OmiseGO fosters the coveted values of scalability, security, and interoperability. He further stated that they are proud to include support for the OmiseGO tokens on their GBX-DAX platform, considering the principles followed by OMG. Cowan went on to say that this step will help significantly boost the platform’s growth which is creating payment gateway focussed on encouraging real-time, peer-to-peer and transparent transactions.

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The OMG network is not only determined to promote interoperability and financial involvement but also concentrates on offering a mechanism that is decentralized for both future decentralized economies and financial networks. To accomplish this, it has enabled building and scaling coupled with smooth utilization of the decentralized applications on its OMG network, highlighting the decentralized financial system’s requirement of ease of accessibility and transparency.

Being a recognized ERC-20 token, the OmiseGO token is capable of facilitating swifter exchanges and transactions seamlessly across a variety of blockchains. It also offers speedy transactions between numerous blockchains. When it comes to the market capitalization figures of the digital currencies, OMG has secured the 30th position in the present list.

Cowan was quoted saying in his statement,

“As the seventh token to be listed on the GBX-DAX since the turn of the year, the addition of the OMG token represents the continuation of the strong upward trajectory we are experiencing.”

For those who come in late, the GBX-DAX has successfully attained the GFSC’s or Gibraltar Financial Services Commission’s full DLT License. Since then, it has become the first exchange that is insured, regulated and held by GSX, a conventional stock exchange.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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