Globitex ICO Review : Institutional Grade Global Bitcoin Exchange
Globitex is a two years old cryptocurrency exchange platform which is completely ready for its beta launch. The team of Globitex aims to advance the Bitcoin industry globally, increasing the Bitcoin trading liquidity and allow professional traders to participate via API (FIX & RESTFUL) interface for trading and payments.
This is a Private Limited Company fully owned by AS Globitex Holding; a Latvia-based organization is incorporated in Gibraltar. Before it was launched all the team members worked together for many years for the increment of asset management. What they primarily traded was spot commodity on the global market. To participate in the ICO of GBX tokens, the users need to visit official ICO page.
The team of Globitex includes Jon Matonis (Chairman), Liza Aizupiete (Managing Director), Arvis Ermins (Director and Head of Compliance), and Maris Kaneps (Director and Head of IT Department).
HOW DOES GLOBITEX BETA WORKS?
The Globitex Beta provides the users with a platform to trade Bitcoin and Euros by signing up to the Globitex.com website. For the settlement of trades on the Globitex exchange, the GBX utility token is introduced. Using GBX token for payments while trading on the Globitex platform, will provide a 20% commission i.e. the worth of the token will be 20% higher while making payment.
The Globitex exchange will provide a premier banking relationships, documented trade reporting. It also supports the market standard FIX protocol for automated electronic trading, which is used by the professional institutional traders, brokers/dealers, mutual funds, investment banks, and stock exchanges.
The Globitex in the due course will introduce a program for member clearing firms to process transactions on the exchange platform with Globitex monitoring the credit worthiness of the member clearing firms and, ideally, creating and maintaining a guarantee fund that can be used to cover losses that exceed the deposited collateral from a defaulting clearing firm.
To bring ease in margining trading, Globitex will introduce a two-way borrowing facility for both Bitcoin and fiat currency.
THE GLOBITEX TOKEN (GBX) SALE:
The Globitex token sale will start from November 8 and will last for a month (until December 7), or until 72 hours after the soft cap of 500 million GBX tokens is reached. The tokens will be sold at an equivalent price of 0.10 EURO. There will bonus for early birds. The investors can contribute with XBT, ETH, or BCH token too.
The GBX tokens are ERC20 compliant tokens built on the Ethereum blockchain. There is a soft cap of 500 million GBX tokens. The company has kept 20% of the total supply of token for themselves and the rest for the users.
The Bitcoin exchange platform, Globitex is all set to launch a token sale in the month of November to accelerate the development of the platform. The tokens will provide many benefits like transaction facility, commission facility and many more.
Depending upon the token sale’s success, the Globitex team also aims to develop Bitcoin money markets (Bitcoin inter-broker offered rate or BIBOR), cash settled commodity, swapping and many other options, in future.
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