Tue, 18 Dec 2018

Globitex

Institutional Grade Spot and Derivatives Exchange in Bitcoin



Token symbol GBX
Platform Ethereum
Type ERC20
Token price 1 GBX = 0.10 EUR
Tokens for sale 500,000,000
Accepting ETH, XBT, BCH
Soft cap 500,000,000 GBX
Min. investment 10 EUR
Bonus first 20,000,000 tokens 15% discount
next 30,000,000 tokens 10% discount
next 50,000,000 tokens 5% discount

About Globitex

Globitex is an institutional grade Bitcoin exchange, with unrivalled API capabilities for direct market access. The purpose of Globitex is to advance the overall Bitcoin industry by scaling existing Globitex exchange infrastructure to the necessary industrial trading level, with a capacity to accommodate standardised money markets and commodities listings.

To realise the business goals set forth in this paper, an Ethereum EIP-20 (previously known as ERC-20) smart contract protocol based token (the GBX Token) – will be issued by Globitex Limited, private limited company (the Company) incorporated in Gibraltar fully owned by AS Globitex Holding (Latvia). The Company will use the proceeds from the token sale to obtain various rights to use, exploit and licence the existing Globitex IT infrastructure and trading platform. The Company will also use the token sale proceeds to further develop the eco-system, infrastructure and trading platform according to the aims described in this White Paper in order to develop the services that the Token can be exchanged for.

Spot FX and REPO

  • Scale spot FX, where Bitcoin can be traded vs. major fiat and other cryptocurrencies
    This will involve business development efforts for establishing additional banking relationships with bank partners around the globe and across the currency spectrum. This will also involve the undertaking of a thorough security and business evaluation, including development of extensions for the payment system based on the highest security standards before adding other cryptocurrencies as trading instruments on Globitex.
  • Implement FX margin trading ability - REPO
    By allowing Globitex clients to lend to each other with REPO, or standardised maturities repurchase agreement based instruments, Globitex clients will be able to use the borrowed funds for leveraging their trading; the loans will be made available as collateralised debt instruments, which can also be used for purposes outside of the exchange. This, in turn, will create a money market for Bitcoin and other cryptocurrencies, and thereby establish market based interest rates. Globitex will expand its core system level functionality to implement FX margin trading based on the peer-to-peer lending principle. Furthermore, to allow currency REPO instruments, a new risk module will also need to be implemented.

Money Markets and Derivatives

  • Develop Bitcoin money markets - BIBOR
    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.
  • List cash settled commodity futures and options
    At this stage, business development and various partnerships will have positioned Globitex to reference the existing USD based markets. By using traditional futures markets pricing in commodities, we shall begin using Bitcoin at the scale needed for global trade by synthetically forming derivative instruments in commodities, paired with FX market developed in Stage I. These instruments will be listed in standardised maturities and settled in Bitcoin. We will begin by implementing precious metals cash settled futures trading and follow up with other commodities. By further developing IT infrastructure and risk management, the Globitex exchange will be able to accommodate options listings in commodities, FX and money markets thereby linking Bitcoin to global trade at all levels of derivatives.
  • List cryptocurrency futures, swaps and options
    Create cryptocurrency-to-fiat and cryptocurrency-to-cryptocurrency based futures, swaps and options to be used as financial instruments for hedging, investing and speculating purposes.

Deliverable Commodity Derivatives

  • List Bitcoin priced Globitex commodity index - GCOM
    Aggregate various groups of commodities, listed in the previous stage, as cash settled futures, such as energy, grains, industrial metals, precious metals, softs, livestock, into a Bitcoin priced index. Such index would reflect Globitex and other exchange listed commodities value in Bitcoin. The index would have a specific weight for each commodity group. The index would first serve the purpose of a reference price, and may later form the bases for a tradable index futures product. Name the index Globitex Commodity index “GCOM” and prepare to offer GCOM futures trading.
  • Enable precious metals futures contracts to be physically deliverable
    The previously established Bitcoin settled derivatives need to be made deliverable physically in kind. Futures will become available for physical delivery. Starting with a precious metals spot market and integrating in existing precious metals distribution channels, we shall allow a standard commodity kind to be delivered and deliverable in exchange as a collateral in some pre-agreed form. Globitex will work on specific form for certificates of ownership - warehouse receipts in the form of tokens, which may be tracked and verified on a public blockchain.
  • Further develop warehousing infrastructure and expand spot commodities
    For commodities such as non-perishable energy products or industrial metals, which can be stored in warehouses for long time periods, we shall rely on the existing warehouse infrastructure, be it the established warehouses used by existing exchanges or other private warehouses complying with the common delivery standards, to allow other liquid derivative instruments to be physically deliverable. Similarly for consumables, we shall partner with existing wholesalers offering FOB (free on board) or CIF (cost insurance freight) commodities for purchase with Bitcoin and delivery in kind at designated ports and warehouses.

  • 80% Distributed to users
  • 20% Maintained by The Company

Start in 08-11-2017
Ended in 07-12-2017

  • Jon Matonis - Chairman
  • Liza Aizupiete - Managing Director
  • Arvis Ermins - Director and Head of Compliance
  • Maris Kaneps - Director and Head of IT
  • Uldis Teraudkalns - Chairman of the Supervisory Board
  • Viesturs Tamuzs - Board Member
  • Andris Kaneps - Board Member
  • Mark O’Byrne - Bullion Dealer and Gold Market Analyst
  • Carlos Blanco - Risk Analytics and Financial Modelling Expert
  • Pierre Roberge - IT Security Expert
  • Mikko Ohtamaa - Technology Advisor
  • Ransu Salovaara - Token Sales Strategist

  • 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
  • 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

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