Blockstack has partnered with GSR Markets Limited, a Hong Kong limited company, on providing overseas liquidity for the Stacks token (STX). The agreement is filed with the SEC in a Form 1-U.
Last week STX began trading on Binance, the world’s leading cryptocurrency exchange, and Hashkey Pro, Hong Kong’s premiere digital asset exchange for institutional investors. GSR will provide services related to managing the liquidity of the Stacks Token on these two exchanges as well as providing OTC services in markets serving non-U.S. persons.
“After many years in traditional finance, the GSR team began trading digital assets in 2013. As a result, GSR has witnessed the institutional growth of crypto first hand over the last 7 years. Blockstack has a uniquely strong combination of exceptional management and investors, a mix that is vital for achieving their ambitious goals,” says Cristian Gil, Co-Founder of GSR. “It is a great opportunity to partner with the first utility token that has worked with regulators to bring clarity to the space.”
To support further access to the STX token, it’s important to provide liquidity to buyers and sellers as tokens unlock over time. Blockstack’s agreement with GSR provides a transparent way to provide liquidity to the markets in the early months of trading.
For US persons, there is currently no authorized exchange or alternative trading system (ATS) for buying and selling Stacks tokens. If the STX token is listed on an authorized US exchange, Blockstack will terminate the agreement with GSR.
As part of our practice of transparency, further information about the compensation arrangement and agreement are available through our Form 1-U filing on the SEC’s EDGAR site.
Important Disclaimer
The Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC under Regulation A for our offering of certain of our Stacks Tokens. The information in that offering statement is more complete than the information we are providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. The offering is being made only by means of its offering statement. This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
An indication of interest involves no obligation or commitment of any kind. Any person interested in investing in any offering of Stacks Tokens should review our disclosures and the publicly filed offering statement and the final offering circular that is part of that offering statement here. Blockstack is not registered, licensed or supervised as a broker-dealer or investment adviser by the SEC, the Financial Industry Regulatory Authority (FINRA) or any other financial regulatory authority or licensed to provide any financial advice or services.