As another development of BLOC’s exchange projects, the Company is pleased to announce to its shareholders that Hyperion has secured a partnership with Stellar to allow Stellar-based crypto assets to be traded on the Hyperion exchange. This will broaden the scope of Hyperion’s abilities as the first advanced security token exchange in North America, making it an even more impactful project in the emerging area of blockchain technology
GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC, BLOC.CN, BLOC.CNX) (FSE: BWSP) (OTC: BLKCF) (“BLOC” or the “Company”) is pleased to announce that Hyperion Crypto Exchange Inc. (“Hyperion”) has entered into an agreement with Stellar to provide support for Stellar-based assets on the Hyperion exchange. Earlier this year, BLOC made a $5 MM investment into Hyperion in exchange for 12.82% of its total issued and outstanding share capital. Hyperion was co-founded by Michael Zavet, a seasoned fintech and real estate development entrepreneur, and Shidan Gouran, President and CEO of BLOC.
Hyperion facilitates the trade of digital assets (to include cryptocurrencies) on an SEC-licensed alternative trading system (ATS), an arrangement that it has attained through a strategic investment in the Delaware Board of Trade (DBOT). Through this same arrangement, Hyperion also operates under a license as a broker-dealer (BD). It will be the first advanced security token exchange in North America, bringing the power of blockchain technology to the trade of securities.
Stellar is a trading protocol for issuing, transferring, and exchanging digital assets of any kind. Digital assets that can be traded on Stellar include cryptocurrencies such as Bitcoin, fiat currencies such as the US dollar, and commodity assets such as gold. As the demand for crypto asset trading has been sustained since the cryptocurrency boom of late 2017, platforms such as Stellar have seen substantial interest from investors, as a method of transacting assets with the efficiency and security of a blockchain network.
With Hyperion offering support for Stellar-based assets, it will broaden the scope of tradeable assets on Hyperion, beyond the security tokens and crypto assets already slated to be listed on the exchange. Further, Stellar’s existing user base and brand cachet will lend themselves well to Hyperion as it makes its entrance into the marketplace as a new exchange. With the Company’s equity in Hyperion, BLOC shareholders stand to benefit from this development on any increase in Hyperion’s value.
“Hyperion partnering with Stellar is one of the best things that could have happened, not just for BLOC and Hyperion, but also for the crypto space,” said Shidan Gouran, President and CEO of the Company. “Regulation has been a serious hurdle for this industry. Our team at Hyperion took a shrewd approach to operating under an ATS license, which gives investors trading on Hyperion legal protections that they wouldn’t get on most other exchanges. That is a very big win for the crypto market in general, and for us and our shareholders as investors in Hyperion.”
BLOC Chairman Steve Nerayoff added, “It has taken some time for the crypto markets to mature to the point that crypto assets can be traded on an SEC-licensed exchange. Shidan and Michael did a great job of leading Hyperion to being just steps away from bringing blockchain-based trading of securities and other digitized assets to the mainstream market. We will start to see a lot more capital coming into this space as a result. We all thought that 2018 was a dynamic year for crypto… but Hyperion will play a significant role in making 2019 even more dynamic.”