Community Report 05

Globitex CEO address

Dear Globitex community!

Welcome to the monthly community report where we look at the biggest highlights since the previous report as well as give an insight into what comes next.

Almost a month has passed after the notorious Bitcoin cash (BCH) chain split and we are left with more questions than answers. The two chains combined are worth less than half of what BCH was worth before the split so hardly anyone can be seen as the winner. Both are priced similarly, have similar hashrate and are both quite centrally mined – 50%+ of the blocks are mined by two to three mining pools. Hopefully sooner rather than later we will see decisions and actions geared towards ensuring transaction safety, decentralization and customer value. Globitex was one of the first exchanges to resume operations in BCH, however we have not listed BSV and continue monitoring the development of not only BSV, but also of BCH to determine further course of action.

The markets have followed suit and we are enjoying this anti-bubble as a mirror image of this period in 2017. The media is dominated by communication about regulators being tougher on crypto. The SEC has slapped some fines on ICOs and exchanges while other regulators such as FCA in the UK promise clear crypto regulation very soon. We embrace these news as we have built our business from day one with transparent legal setup, respecting the laws of countries where we operate in as well as strive to maintain open and collaborative relationships with regulators.

While BCH chain split was taking most of community attention, we launched a new trading pair EURS/EUR. EURS or Stasis is a truly unique project which aligns perfectly with our vision for how crypto markets should operate. Most recently it was announced that Stasis have agreed with a reputable auditor to regular auditing of its EUR reserves, which gives additional confidence to both customers and partners. We have been positively surprised by the demand for EURS/EUR which since launch has become the second most traded pair on the platform.

GBX saw a major milestone achieved of first GBX burn transaction that was recorded on the ethereum blockchain. We will periodically burn GBX used for settling trading fees. With introduction of this feature, the base functionality of the GBX token has been finished, i.e. it is exchange listed, usable for trading fee settlement and being periodically burned. Going forward the focus will be on using GBX for incentives and rewarding loyal GBX users and holders. During this Christmas season we are offering free GBX for deposits which you can use to settle trading fees, thus effectively trading for free. Look for more information on globitex.com and our social media channels.

Looking ahead we are focusing all our resources on delivering the EURO Wallet to our customers as soon as possible. We truly believe that this is a gamechanger feature and will be highly valued by our existing and future clients. The next issue of the community report will be already in 2019, a year of great promise and opportunity for Globitex.

Thank you and Merry GBX-mas! Uldis Teraudkalns Globitex CEO

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