The Gibraltar exchange is one of the most interesting token exchanges in the world right now as it will be one of the few licensed crypto exchanges in the world. The Gibraltar exchange is issuing its own token that will be the effective currency on the exchange.
The fact that you will be able to issue a token that is a security is very interesting and this is one of the most innovative features about the token exchange. Many ICO’s would make lots more sense if their tokens were in fact securities and not utility tokens. The exchange will have a more traditional sponsor like London AIM.
The Sponsors will vet the ICO and will help the businesses complete their token listing. The listing fees will be paid with the Rock token (RKT), which is the Gibraltar exchanges own token that will be used to paid for the GBX membership, Listing fees, trading fees, early access etc.
The Gibraltar legislation has made crypto currency legal and is ICO friendly. The Gibraltar Financial Services Commission (GFSC) has a new regulatory framework for crypto token sales.
As of writing this article the GBX exchange has not yet launched its services to the market however it is expected to launch at the end of Q1 2018.