CEO statement

Dear Globitex supporters, welcome to the first issue of the monthly community report! It has been a hot and busy July for us and I wanted to take a few moments to share the biggest highlights with you.

The main focus of July and this summer in general has been building the Team. We started building our tech team from scratch and made the first two developer hires in July, starting with our CTO Ralfs. On top of that, we laid the foundation to be able to hire two more developers in August. Dynamic road ahead for our devs. We also added people in administration, including our CMO Serge, who has been working tirelessly to prepare us for going out there and make ourselves visible in a smart and professional manner. We still have some vacancies to fill and at the rate we are developing, I am confident we will need a lot more people going forward.

On the tech side, the biggest challenge was launching of ETH and our own utility token GBX, the listing of which was completed at the end of June, but the peak client activity we felt in July. Our system and tech team managed the increased activity well and there were no major problems or complaints. A total of more than 4.6 million GBX or roughly 3.5% of the distributed tokens was deposited on Globitex during July. The rest of the distributed GBX are being held by HODLers on their own wallets.

Exciting times lie ahead for the GBX as our focus in August is enabling GBX usage for trading fee payments as well as preparing for the launch of the first GBX loyalty campaign. We are also continuously evaluating partnership opportunities for fiat payments to ensure the next step on our roadmap – adding additional fiat currencies. The key challenge for this task is trust and costs, meaning that crypto businesses are still a grey area at best for most financial institutions which brings up the cost of partnering with the companies who are willing to service crypto. We are working hard to bring our customers the best value possible for this next step.

Thank you and rock on,

Uldis Teraudkalns

Globitex CEO