GSR has partnered with Blockstack to provide overseas liquidity for the Stacks token (STX). Blockstack is the first-ever project to receive SEC approval for a blockchain token offering under Regulation A+. The agreement has been filed with the SEC on Form 1-U.
Blockstack is a full-scale decentralized computing platform that was founded at Princeton University in 2013 with the aim of putting Internet users in control of their data and identity. Blockstack’s team includes computer scientists from Princeton, Stanford, and MIT, and they have raised over $75 million from a reputable list of investors that includes Union Square Ventures, Y Combinator, Harvard University, and Digital Currency Group.
After four years of research and development, Blockstack now has over 290 applications and thousands of developers on its platform. GSR will provide services related to managing the liquidity of the Stacks Token on two offshore trading venues, Binance and Hashkey Pro, as well as furnishing OTC services in markets serving non-U.S. residents.
Blockstack’s thriving ecosystem includes innovators dedicated to building decentralized alternatives to the monopolistic Internet applications global consumers use on a daily basis. By providing robust programmatic liquidity, GSR will ensure seamless and cost-effective access of STX to the wider Blockstack ecosystem.
“We are excited to work with GSR, who, like us, have been in the cryptocurrency market for over six years,” said Muneeb Ali, CEO of BlockStack. “We decided to work with GSR because their focus on compliance, innovation, client service, and quality aligns well with our vision.”
”This is a great opportunity to partner with the first utility token that has worked with regulators to receive a related offering qualification, bringing clarity and confidence to the space” added Cristian Gil, Co-Founder of GSR.