This Wednesday, the Gibraltar Blockchain Exchange (GBX), a cryptocurrency exchange and marketplace for initial coin offerings, has added a new cryptocurrency to its Digital Asset Exchange (DAX) – ICNQ.

ICNQ is the fifth token to be listed on the exchange so far this year, following on from EOS and XRP, among others. Iconiq Lab Token (ICNQ) is a cryptocurrency token which “powers the economy” of Iconiq Lab, a decentralized venture capital group. The token operates on the Ethereum platform.

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On the GBX-DAX, the ICNQ token will be available to trade against the United States dollar (USD), Bitcoin (BTC) and Ethereum (ETH) to begin with, the statement from the exchange said. In the near future, additional pairs will be added.

According to the statement released today, ICNQ is now listed on the DAX thanks to Sponsor Firm Iconiq Holding, which was also responsible for the listing of the EOS token.

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Commenting on the addition, Nick Cowan, Managing Director and Founder of the GSX (Gibraltar Stock Exchange) Group Limited said: “I’m pleased to unveil the latest development in our ongoing efforts to provide the most dynamic trading experience possible, with the addition of the ICNQ token to the GBX-DAX.”

“The Iconiq team have a wealth of experience in traditional financial markets and are acutely aware of the importance of accessibility and liquidity — two principles at the heart of our offering. Collaborations with like-minded organisations such as Sponsor Firm Iconiq, are fundamental to achieving greater recognition for our emerging industry.”

GBX continues expansion

The addition of ICNQ follows a number of changes on the blockchain exchange, including it being granted a full license from the Gibraltar Financial Services Commission in November last year. It was launched by the GSX in February of 2018 with an ICO, through which it raised $27 million.

“We are in the midst of a sustained phase of activity, with a range of high profile token additions such as XLM and XRP to the GBX-DAX so far in 2019, strengthening our position as a world-class cryptocurrency exchange. We operate in a dynamic, fast-paced environment, and are determined to set the highest standards in speed and efficiency by evolving in tandem with the industry, while continuously adding value to our platform,” added Cowan.