Globitex

Globitex

Created using Figma
Created using Figma
Globitex team has created a professional Bitcoin marketplace to fill the need for institutional grade exchange platform with advanced IT solutions, suitable for both individual and institutional Bitcoin market participants. Their purpose is to advance the Bitcoin industry globally, increase Bitcoin trading liquidity and allow professional traders to participate via API (FIX & RESTful) interface for trading and payments.
ICO
Feb 10, 2018
Feb 13, 2018
100% completed
$12 245 000
100% goal completed
Goal 1 000 000 EURO
Hard cap 10 000 000 EURO
past
  • 1 GBX
    =
    0.1 EURO
Token Details
Accepted Currencies
ETH, BCH, XBT
Company Details
Registered Country
Latvia
Additional Details
Platform
Ethereum
KYC
Yes
Categories
Platform, Cryptocurrency, Business services

About Globitex

In order to facilitate the use of Bitcoin as an industrial scale medium of exchange, we propose taking the existing Globitex exchange infrastructure and scaling it up into an exchange that has global spot and derivatives exchange capabilities, where standardised instruments in money markets and major commodities are listed with cash settlement and later physical delivery, and where Bitcoin is used as the underlying currency - a unit of account.

To realise this goal, Globitex is issuing the GBX utility Token. The Token will be issued as an EIP-20 (previously known as ERC-20) compliant Ethereum smart contract. [2] The GBX Token will primarily be used for the settlement of trades on the Globitex exchange, serving as a commission payment token. The GBX Token will also function within loyalty programs planned for Globitex clients and contributors, whereby the contributors will be participating in  the company's overall success. The GBX Token can be acquired during the Globitex token sale (www.globitexico.com) using Ether (ETH), Bitcoin (XBT) and Bitcoin Cash (BCH). The GBX token sale will be conducted in stages, each representing the team’s commitment to deliver specific business milestones.

Features

Scale spot FX, where Bitcoin can be traded vs. major fiat and other cryptocurrencies.

Implement FX margin trading ability - REPO.

List precious metals spot contracts.

Develop Bitcoin money markets - BIBOR.

List cash settled commodity futures and options.

List cryptocurrency futures, swaps and options.

List Bitcoin priced Globitex commodity index - GCOM.

Enable precious metals futures contracts to be physically deliverable.

Technical Info

Ethereum EIP-20 (previously known as ERC-20) compliant smart contract

 

Globitex Roadmap

  • Q2 2017

  • BETA Launch of Globitex Bitcoin Exchange
  • Q4 2017

  • Globitex ICO Announcement
  • Q4 2017

  • Launch of Bitcoin Cash Trading, Deposits and Withdrawals
  • Q4 2017

  • Partnership with Electronic Money Institution
  • Read More
  • Q4 2017

  • Globitex Token Sale
  • Q1 2018

  • Open Public Launch of Globitex Services
  • Q1 2018

  • Launch of Additional Cryptocurrency Trading Pairs
  • Q2 2018

  • Launch of Additional Fiat Trading Pairs
  • Q3 2018

  • OTF (organised trading facility) Licensing
  • Q4 2018

  • REPO (Margin) Trading Launch
  • Q1 2019

  • BIBOR (bitcoin inter-broker offered rate) Launch
  • Q1 2019

  • Listing of Bitcoin Settled Commodity Futures
  • Q2 2019

  • Listing of Cryptocurrency Futures, Swaps and Vanilla Options
  • Q3 2019

  • Listing of Bitcoin Priced Globitex Commodity Index - GCOM
  • Q3 2019

  • Physically Deliverable Precious Metals
  • Q4 2019

  • Physically Deliverable Other Commodities

Activity

Activity:
476
VERY HIGH
Posts:
250
MEDIUM
Views:
10 651
VERY HIGH
Activity:
476
VERY HIGH
Merit:
290
HIGH
Posts:
757
HIGH
Views:
27 507
VERY HIGH
Users:
382
HIGH
Posts:
662
VERY HIGH
Followers:
3 274
MEDIUM
Likes:
3 024
MEDIUM
Followers:
5 172
HIGH
Tweets:
411
HIGH
Members:
34
VERY LOW
Alexa
Rank:
3 282 340
VERY LOW
Delta:
1 291 929

Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

2 ICOs

$30 393 220

Chairman
unverified
Andris Kaneps
Co-Founder
unverified
Investor
unverified
Chairman of the Supervisory Board
unverified
Maris Kaneps
Director and Head of IT
unverified

Last News

3.61
stable
5.0 16
ICO Profile Vision Activity Potential Product Team

Globitex Reviews

crushcrypto.com
review

Opportunities:
Cryptocurrency exchanges that provide fiat on-ramp is a lot more difficult to operate than crypto-to-crypto exchanges due to regulation and compliance. Globitex is able to accept fiat deposit, which makes it stand out among most other cryptocurrency exchanges.
Globitex is looking to provide much more than just cryptocurrency trading. Products including money markets, repo, futures, swaps, and options are tools that are used heavily by institutional investors. This is another way Globitex can differentiate against the competition.
There is a burning mechanism for the token supply, so the token price can appreciate even if the value of the tokens as a whole do not increase.

Concerns:
As with other tokens issued by exchanges, GBX token will most likely only going to be listed on the Globitex exchange and will not be supported by other exchanges.

Conclusion:
Overall, we like both the short- and long-term potential of this ICO. Our thoughts of the tokens for short term and long term are as follows:
For ​short-term holding:
Good. Despite the recent market environment, we believe that the project is solid with a strong team. The low cap makes it much more compelling.
The market currently places a high valuation to exchange token. Even the token of Bibox, the 30th biggest cryptocurrency exchange, have a market cap of $120 million.
For long-term holding:
Good. Globitex’s vision is ambitious and the team has a clear pathway to make it stand out among the competition. If the exchange becomes successful, the potential upside is substantial, especially considering the low market valuation to begin with.

Read More
icoscoring.com
ICO review website

Digital currency operators and Bitcoin exchanges are the most common targets of distributed denial of service (DDoS) attacks according to a report titled “Q3 2017 Global DDoS Threat Landscape.” The highest risk factor for small exchanges is security breach that could result in a loss of funds. The main risk for the product in the EU is that virtual currency exchange platforms and custodian wallet providers will be added to the list of obliged entities within the scope of the EU money laundering or terrorist financing directives. Also, Globitex product should comply with the upcoming MIFID II regulations in EU which obliges OTF operators to provide pre-trade and post-trade transparency. The roadmap is not clearly given in WP. The provided product development description only highlights the stages is not detailed.

The team does not explain how the exact fee level will be calculated. Therefore, the commercial viability of the platform is not clear. The business model relies on the assumption of high demand and large amount of transactions that might not held due to significant number of already operating cryptocurrency exchanges. The Hard Cap valuation of Globitex is $15M and is 2X larger than the median US software companies seed stage post-money valuation. Globitex does not provide any financial forecasts or assumptions for their growth. Globitex team does not provide the split of anticipated expenditures.

CTO of Globitex – Maris Kaneps – has 10+ years’ experience in managing IT development. However, the field of specialization cannot be verified and thus might not be relevant. As the company will operate in the area of financial transactions, it is strongly recommended for the project to have experts in the area of IT security. The IT Security expert of Globitex – Pierre Roberge – is not employed at the company and develops EdTech Stratup for kids, according to linkedin. What is more, the whole team is spread around the globe according to Linkedin. That is why robust development of the project might be at risk.

Read More
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