REG - GSTechnologies Ltd - Stablecoin Regulatory Sandbox Application Filing

GSTechnologiesAnnouncement

20/02/2023 07:00

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RNS Number : 3602Q  GSTechnologies Ltd  20 February 2023

20 February 2023

GSTechnologies Limited

("GST" or the "Company" or the "Group")

Filing of GS Money Stablecoin Regulatory Sandbox Application

 

GSTechnologies Limited (LSE: GST), the fintech and information technology
solutions company, is pleased to announce that the Company's stablecoin
application for admission to the UK Financial Conduct Authority ("FCA")
Regulatory Sandbox has been filed.  The application has been submitted by
GST's UK incorporated blockchain focussed business unit, GS Fintech Ltd ("GS
Fintech") and the legal advisory firm Pinsent Masons LLP has provided guidance
on the application process.

The FCA Regulatory Sandbox application is a key pillar of the stablecoin
activities that the Group intends to carry out in strategic jurisdictions,
including the UK, as outlined in the Company's previous announcements.  The
Company's goal remains to be the first publicly quoted company to obtain an
electronic money institution licence from the FCA to issue stablecoins and
provide trusted stablecoin-based payments services to the UK market and
beyond.

Further announcements will be made in due course, as appropriate.

Tone Goh, Chairman of GST, commented: "We continue to make significant
progress with our GS Money ambitions and the submission of the application for
our stablecoins to be admitted to the FCA Regulatory Sandbox is a key step. We
believe the UK market needs a trusted UK-based provider to offer regulated
electronic money and payment activities specifically related to stablecoins. I
am confident GST has the technology and operational readiness to be a leader
in this business and I look forward to providing further updates in due
course."

Enquiries:

 The Company
 Tone Goh, Executive Chairman                            +65 6444 2988
 Financial Adviser
 VSA Capital Limited                                     +44 (0)20 3005 5000
 Simon Barton / Tolgahan Kuce
 Broker
 OvalX                                                   +44 (0)20 7392 1400
 Tom Curran / Thomas Smith
 Financial PR & Investor Relations
 IFC Advisory Limited                                    +44 20 (0) 3934 6630

 Tim Metcalfe / Graham Herring / Florence Chandler       gst@investor-focus.co.uk

For more information please see: https://gstechnologies.co.uk/
(https://gstechnologies.co.uk/)

 

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