The regulatory breakthrough opens the way for the institutional-grade Bitcoin exchange to deal with EUR fiat payments globally and marks a significant milestone to make Bitcoin a truly global currency of settlement.
Globitex Holding (Latvia) group company NexPay UAB has been granted an e-money license (EMI) by the Bank of Lithuania to carry out payment services and e-money issuance in the EU.
Crucially, the newly-issued EMI licence is fully ‘passportable’ to all other EU member states, allowing NexPay to provide clients with payment services and e-money issuance across all 28 countries.
While Bitcoin offers enormous advantages for international settlement due to its speed and low cost compared to legacy money transfer services, it cannot yet serve as a currency of international trade settlement across the world’s financial markets.
Globitex Chairman and Founding Director of the Bitcoin Foundation, Jon Matonis, said: “I look forward to this evolution of digital currencydigital currency that ensure futures contracts with a physical delivery component. Strong connection to the spot markets, including contract limits and physical delivery that is linked to provisioned commodities, will serve as the market standard for price integrity.”
Globitex aims to facilitate entry into the Bitcoin market for a new generation of customers, both retail and institutional level traders, enabling the increase in value and stability that will allow commodities like crude oil, gold, coffee and other financial instruments to be priced directly in Bitcoin.
With its superior FIX compliant market access connectivity, Globitex paves the way for the traditional financial industry to start participating in Bitcoin market by providing the necessary liquidity.
Acquisition of the EMI licence brings with it the possibility of integrating with the SEPA euro payments system directly through the central bank, enabling the operating EMI entity to issue IBAN accounts to its clients just like banks.
Globitex group is holding a token sale to fund the scaling of its existing exchange infrastructure in to a commodities spot and derivatives exchange for Bitcoin. The GBX utility token will be issued on the Ethereum blockchain. GBX will be used to pay trading fees and reward exchange users and liquidity providers.
PR Contact and for interviews with Globitex:
Globitex is a new Bitcoin exchange co-founded by former Executive Director and a Founding Board Member of the Bitcoin Foundation Jon Matonis. Current operating entity of the Globitex Bitcoin exchange is a UK-based Globitex group company.
The GBX token will be sold for the equivalent of EUR 0.10 in Bitcoin (XBT), Ethereum (ETH) and Bitcoin Cash (BCH), with significant discounts for early participants.
Website and whitepaper: https://globitex.com/
Token sale: https://www.globitexico.com/
Please leave your questions and comments below:
Introducing the World’s First Blockchain phone, the BitVault®
Download the FREE BIT-MEDIA APP below!