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Globitex – institutional grade Bitcoin exchange

Globitex is an institutional grade Bitcoin exchange, with a fully functional FIX API connectivity, offering direct market access for algorithmic traders. Launched in the summer of 2017 as a working prototype, it is being tested in a limited Beta mode and is expected
to begin open public operations by the beginning of the year 2018. Having built the exchange to meet sophisticated institutional client needs, they now operate Globitex from the starting point of allowing the exchange of the Bitcoin and Euro trading pair on a secure and well-established platform. Building Globitex with a view to the future, however, requires tackling one of the major issues that Bitcoin faces: liquidity, or the current lack thereof.

Aggregate the leading interest rate markets for Bitcoin margin lending, including the one developed by Globitex at stage I, in order to form a tradable interest rate product. Name it “BIBOR” (Bitcoin Inter-Broker Offered Rate) and offer BIBOR futures trading, thereby setting the standard reference rate for the Bitcoin economy capital markets. Furthermore, expanding to  money markets in other cryptocurrencies based on market appetite.

LEGAL SETUP

This chapter evaluates the legal regulation and necessary licenses in order to implement the objectives of this white paper. The Globitex team will start operations from Europe and accept clients globally. Further development stages will involve representation outside
Europe and investigation of country-specific regulations and licensing for physical presence. After having assessed regulatory environments in different regions and jurisdictions, the Globitex team has decided to base the project in the European Union. Therefore, the following section of this white paper will provide a short analysis of the legal framework in EU for Bitcoin, and for Bitcoin derivatives trading.

TECHNICAL IMPLEMENTATION

Presently launched in a limited Beta test phase, Globitex is operational, thoroughly tested and validated by our Beta Testers and Globitex software development team, and is planned for an open public launch by beginning of the year 2018. As the Token Sale project outlines substantial business commitments, the team will develop the required enhancements, with a view of adding them to the current trading platform, in order to adapt the system for the new products and services laid out in this paper.

New developments

The Globitex platform will organise a REPO as a peer-to-peer lending facility. The system will support options to create collateral-secured loans for clients. A real-time risk-control module will allow clients to withdraw a part of the borrowed funds that does not exceed
the specified haircut.

GLOBITEX TEAM

Globitex was founded by a team of traders to bring their expertise and vision to the Bitcoin industry. The founding team has previously worked together for many years in asset management, primarily trading spot commodities and derivatives on global futures and
derivatives exchanges, including jurisdictions such as China, Japan, USA and Europe. Globitex Chairman Jon Matonis joined the team in 2015, bringing to the table his extensive track record as an executive of technology companies, Bitcoin visionary as well as his own trading experience in commodities markets.

Conclusion

In this White Paper they have laid out a plan for how Globitex, by means of issuing the GBX Token intends to tackle Bitcoin’s economy scaling issues. They has examined the importance of money markets and commodity trading, and why such assets should be linked to Bitcoin. They have presented the legal setup for achieving the goals of the project, and enumerated the roadmap for stages of business development. The technical description of Globitex product demonstrates the soundness of Globitex as a technically robust system, capable of scaling to the necessary industrial trading level, with a capacity to accommodate standardised money markets and commodities
listings.

 

If you want more information, visit the WEBSITE and read the WHITEPAPER.

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