Riga, Latvia (11 May 2018)
AS Globitex Holding, the holding company for the Globitex group of companies announces the structure of the new Supervisory Board and Management Board to oversee the business operations of the company.
During the Shareholders Meeting that was held on 10th May 2018 in Riga, Latvia, three persons were elected to the Supervisory Board. The Group Supervisory board is responsible for supervision and assistance to the Management board as well as approval of major business decisions. The three new Supervisory board members are Viesturs Tamuzs, Alexey Dokuchaev, and Liza Aizupiete. The Supervisory Board in turn elected two members of the new Management Board, Uldis Teraudkalns as the CEO and Oksana Gladija as the CFO. Uldis Teraudkalns was previously Chairman of the Supervisory board of AS Globitex Holding and has been managing the project on the top level since establishment of the company. Oksana Gladija is promoted from within the company where she previously served as Head of Treasury. She has extensive experience in the banking sector which will be pivotal to build an institutional exchange.
The decision was made to adhere to the original road map as stated in the white paper. In accordance with that road map, the GBX token and the ETH token will be the new trading pairs listed on the exchange platform and that can be expected before the end of Q2 as indicated on the whitepaper roadmap.
For the first time in history, utility tokens, such as the GBX token, allow the protocol or network builders to benefit from increased usage and adoption of the underlying platform. As opposed to shares, tokens do not confer investor rights but they reward early contributors and stakeholders when a platform or network expands and grows because of those early adopters. Therefore, it is imperative that early token holders in a project participate in the growth of a platform by advocating for and becoming direct users of the platform.
The company has decided to hold in reserve for at least one year the contributions from unidentified contributors who have not gone through the KYC process related to the recent ICO. This is being done in an attempt to bring the contributors into compliance thus they are welcome to go through KYC and claim their GBX tokens. These withheld funds represent around 1% of the total funds raised. All ICO funds are under the management of the Group corporate bodies.
Compared to many other digital currency exchanges, Globitex benefits from a strong corporate governance structure within the European Union. The Globitex Group company, NexPay, that is regulated and licensed by the Bank of Lithuania, provides the potential for direct clearing and settlement with the central bank, thereby removing the reliance on third-party bank intermediaries.
Globitex is an institutional grade cryptocurrency exchange cofounded by former Bitcoin Foundation Executive Director Jon Matonis and a group of experienced traders. Globitex group company NexPay UAB was granted an Electronic Money Institution (EMI) license by the Bank of Lithuania at the end of last year, allowing it to carry out payment services, open IBAN accounts and issue e-money in the EU.
The Globitex exchange represents a significant step toward widespread adoption and accessibility of bitcoin and bitcoin protocol-based cryptocurrencies as a unit of account suitable for global trade, with no geographic, political, or monetary borders.
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