Global Blockchain’s Hyperion to Support Stellar-Based Assets

Vancouver-based blockchain-oriented firm Global Blockchain Technologies said that it entered an agreement with Stellar, the company behind the sixth largest cryptocurrency.

Canadian firm Global Blockchain Technologies, listed with on Canadian Securities Exchange with the ticker BLOC, announced on Thursday that its subsidiary Hyperion Crypto Exchange partnered with Stellar to support Stellar-based assets on its exchange. Hyperion, co-founded by the current BLOC President and CEO Shidan Gouran, secured a $5 million investment from BLOC earlier this year.

Hyperion supports digital asset trading (it plans to add cryptocurrencies as well) on an alternative trading system (ATS) licensed by the US Securities and Exchange Commission (SEC). The arrangement was possible after Hyperion made a strategic investment in ATS operator Delaware Board of Trade (DBOT), which also allowed it to operate as a broker-dealer.

Hyperion plans to become the first advanced security token exchange platform in North America. On the other side, Stellar offers a blockchain-based trading protocol for the issuance, exchange, and transfer of different types of digital assets, including cryptocurrencies, security tokens, and fiat currencies.

Thanks to the partnership with Stellar, Hyperion, which currently supports security tokens and crypto assets, will expand its range of tradable instruments by adding Stellar-based digital assets.

BLOC President and CEO Shidan Gouran commented on the deal:

“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.”

“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,” he added.

Steve Nerayoff, chairman of BLOC, said that it had taken some time for the crypto space to develop and mature. Now investors can bet on crypto assets listed on an SEC-licensed exchange. He added that Hyperion would play a major role in 2019.

In August, we reported that Global Blockchain Technologies obtained a license to develop blockchain services in Dubai’s DMCC Free Trade Zone via its subsidiary Blockchain Technologies DMCC (BTD).