Bitcoin exchange Globitex granted first EU EMI license with ability to issue IBANs

Globitex Holding (Latvia) group company NexPay UAB has announced that it 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.

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 EU countries.

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.

Globitex is currently holding an ICO, with the GBX token to be sold for the equivalent of EUR 0.10 in Bitcoin (XBT), Ethereum (ETH) and Bitcoin Cash (BCH), with significant discounts for early participants.

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.

Jon Matonis Globitex

Jon Matonis, Globitex

Globitex Chairman and Founding Director of the Bitcoin Foundation, Jon Matonis, said:

I look forward to this evolution of digital currency trading platforms 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 FIX compliant market access connectivity, Globitex says that it 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.

As noted above, Globitex group is holding an ‘ICO’ 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.

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