Globitex - FX and Commodity Market plus Bitcoin

When speaking of market value and liquidity of cryptocurrencies, one has always to keep in mind that cryptocurrencies are presently not the part of the global market. They are not directly connected to the traditional FX and stock exchanges. Some argue that by creating a market where traditional currencies and cryptocurrencies could be traded at the same time, as well as introducing cryptocurrencies to the stock markets as a means of payment would stabilize their ubiquitous volatility and increase their liquidity. It's an interesting concept with multiple serious implications. So far crypto, existing separately from the traditional financial markets, doesn't challenge existing traditional currencies, particularly US dollar, as the primary means of exchange. This situation can effectively change with the emergence of markets where traditional and crypto currencies can be freely traded. Possible scenarios can vary, but in any case, it would be interesting to see how for example Bitcoin would fare, given an opportunity to prove itself as the actual currency. Because right now it's anything but.

Globitex is a project aiming to create both FX and commodities markets, that would use Bitcoin on par with fiat currencies for price settlement and as a means of exchange. The plan of project's development consists of three stages. On the first stage, Globitex plans to establish the FX market that would include major cryptocurrencies among the list of traded currencies. The market also will introduce lending instruments like REPO that would allow its participants to leverage their trade. On the second stage, the company is expecting to create the market for Bitcoin priced commodities that would also introduce derivatives, futures and other traditional financial instruments. On the third stage, Globitex will list groups of commodities into a Bitcoin priced index. Also, the project intends to create the mechanisms to make the futures contracts for a number of commodities, starting from precious metals, physically deliverable. Additionally, Globitex will create a warehousing infrastructure to store traded on the market commodities.

The creators of the Globitex project believe that the practical application of Bitcoin will help to decrease its volatility and settle its market price. Also, this real application of cryptocurrencies as a means of exchange can increase the demand for them and at the same time will accelerate their wider adoption and recognition as a working financial tool.

Team

Starting from February 10, 2018, Globitex conducts a public sale with a sale cap of 10,000,000 EUR. The company distributes 65% of its fund of its GBX token pool. GBX is the platform-specific Ethereum based token, having the utility within the platform, particularly for commission payments and loyalty programs.