In a recent report on the Business Insider, it was noted that the Gibraltar Blockchain Exchange (GBX), a subsidiary of the stock exchange operator, has plans for its own initial coin offering on, saying it will issue its own cryptocurrency, "Rock Token," between February 7 and February 14, 2018.303
According to the Business Insider GBX will sell up to 60 million Rock Tokens, named after the territory's iconic landmark. The company has already sold 210 million Rock Tokens, worth $21 million, in a behind-closed-doors pre-sale, which concluded in December. The funds from GBX's ICO will be used to help develop the company as the world's first licensed and regulated token sale platform and digital asset exchange in the EU.
Once it is set up, GBX plans to help launch ICOs as well as function as a trading venue. According to Nick Cowan, who's the Minister of Finance and both the CEO and founder of the Gibraltar Stock Exchange and the Gibraltar BLockchain Exchange promises to deliver "a strict due diligence and admissions process as well as a high-quality digital asset exchange." Rock Tokens will be used as the medium of exchange on its yet-to-launch crypto exchange, as well as a method of payment for exchange fees."304