As a co-founder and long-time investor in the Globitex digital currency exchange since its inception in 2015, I would like to make a statement about the recent management change.
I am remaining with the Globitex team and I also remain firmly committed to the company's mission and to executing the product roadmap, including physically-settled futures and a GBX listing. Globitex had operated a functioning exchange even before the launch of the ICO. The funding received from the Globitex ICO remains under the strict control of the Globitex company and the new funding is being diligently deployed into areas for the company's advancement. A 2018-2019 operating budget will be released soon and it will reveal very modest spending levels with sufficient capital reserve well into the future.
On Thursday, the CEO resigned voluntarily from Globitex. I would like to thank Liza for her dedication and energy during the last year and we wish her success in her future endeavors. The original board of directors and staff employees remain in place and Globitex is currently interviewing and hiring for the CEO position at Globitex. We will also be upgrading the trading platform, technical team, and customer support team for increased capacity and performance. Market-leading high standards and superior customer experience remain our top priority and it is the reason we founded Globitex in the first place. I will strive to make that vision a reality.
Uldis Teraudkalns will be taking over as interim CEO and he has my full and unmitigated support. I have known Uldis and the other board members for many years and they also adhere to the high standards concept and personal excellence. I am proud and honored to be associated with such an outstanding professional team.
Additionally, I would like to emphasize that through Globitex's subsidiary company in Lithuania, NexPay, we became one of the few exchanges to be licensed and regulated within the EU. Maintaining adequate capital reserves in the jurisdiction is a mandate of that license.
Through an arrangement with the Bank of Lithuania, we are also able to issue our own IBANs meaning that there will exist a direct clearing connection with the central bank which removes the need for a banking partner or bank intermediary. As you know, this feature can be extremely valuable for a digital currency exchange. No other exchange currently has the potential for that level of functionality.
If you need to reach me, my email is [email protected] and I will strive to always be available and do my personal best to respond in a timely manner.
Thank you for your continued support,