RockTokens snapped up in the flick of an eyelid

RockToken, the Gibraltar Blockchain Exchange’s (GBX) successful issue - and the Rock’s first step into the Cyber-world that can be measured in terms of a fiat currency - will be ‘live to trade’ from next Monday.

This follows the successful launch of $27 million of the cyber-coin which began in December last year, and part of which was snapped up by Japanese investors within a second of its launch this month.

The balance of that day’s offering – on GBX – was taken up within nine seconds, Nick Cowan CEO of the Gibraltar Stock Exchange Group, confirmed yesterday. GBX had allowed a 14-day window for the RockToken issue.

Of the almost 30,000 investors who expressed interest in the token issue – the first in Europe under a strictly regulated regime – 20,000 made the ‘white list’ documentation of their suitability, a mammoth KYC process carried out by GBX.

Most of the December offering was taken up by bigger players who each were prepared to invest between $100,000 to $200,000. They included funds managers and firms listed by the GSX.

The second tranche of the issue covering the $6million deliberately held back after the successful $21million ICO in December, comprised investors seeking a $600 commitment, and who were given a 24-hour advantage...after that it was a case of first come, first served.

It was these latter investors who created what is probably a record for the shortest spell of buying.

The cash raised by the sale of the tokens, at a face value of 10 cents in fiat currency, will be used to expand GBX’s and GSX’s FinTech capabilities as well as doubling or trebling current staff levels.

At least 50 new jobs – or, possibly 100 – will be created by the end of the year