Globiance (GBEX coin) is a financial services group made up of crypto exchanges and financial institutions around the world. They are centered in Malta and are working to bridge traditional finance with crypto payments. I am on the fence about the future of this project to be honest. It is one I am watching closely, though.
Their focus is to allow for payments between crypto, stablecoins, and fiat (country) currency for retail customers and institutions. They also have a DEX for XDC coins. I’ll cover that below.
Their platform is built on the decentralized XinFin (XDC crypto) network, XinFin is an “enterprise ready hybrid blockchain” that is part of the ISO 20022 financial messaging standard. It’s “hybrid” since companies can use a private and permissioned ledger internally while also connecting to the public XinFin network for payments and trade.
I have a full write up of XinFin here, so check that out.
Globiance Main Features
- Allows integrated accounts to trade crypto and withdraw fiat money.
- Creating stablecoins on the XinFin network (a fascinating thread of info)
- Provides multi-currency accounts to businesses.
- Provide payment solutions and global transfers for point of sale and trade.
- Growing their decentralized exchange for XRC20 coins (XDC network crypto coins)
My Favorite Part: The Globiance DEX
The main thing that interests me about Globiance is their decentralized exchange (DEX), since that’s my niche obsession. It’s the first DEX built on the XinFin network and is just getting off the ground. As of now, they allow for XRC20 crypto swaps through a few wallets.
For full disclosure, I used the XDCPay Chrome extension to interact with the Globiance DEX. XDCPay is basically a new generation of MetaMask for XinFin crypto tokens. I swapped some XDC for their GBEX tokens with three trades. They completed in a few seconds and all three transactions went through perfectly. It was impressive.
Fyi, the second XinFin DEX being launched is the XSwap Protocol DEX (XSP coin). I’m not sure about XSwap’s legitimacy either since there is not much info about their team. Also, be careful in your research since there are two XSwaps out there!
These two decentralized exchanges will be for new project coins being launched on the XinFin network. In a way, they are like funding platforms to directly connect with investors.
The Globiance Team
Globiance CEO Oliver La Rosa has a background in systems computing, esports, gambling, and a long career in financial IT. His wife is the “Chief People Officer” (strange title) at Globiance and has a background in psychology. The rest of their team has a strong and relevant background, which lends them some legitimacy.
GBEX Coin Details
GBEX was designed with unique features. It’s starting with a very large supply with a tiny cost per coin. At least 60% will be burned over time and GBEX holders will be rewarded through staking and fee transfer. Here are the details.
- A XRC20 coin ONLY (ERC20 or BSC versions of GBEX are a scam so please beware!)
- A third generation exchange token
- Transactions have a 4% tax with a 2% burn and 2% to holders, making the supply deflationary. They wanted this as a HODL incentive too.
Globiance Audit Details
Code audits are critical for vetting new cryptocurrencies. There seems to be one by “Rug Busters” that was “passed”. They are undergoing more, so I will study them further.
GlobiancePay Explained
Another part of Globiance is GlobiancePay. This is a platform with multiple services such as:
- IBAN accounts within the SEPA and Swift networks for a business
- Payment gateways between fiat and cryptocurrencies for multiple payment options
- 10 cards per account with high limits
My Conclusion on Globiance
Their DEX functioned well when I tested it. I can recommend that if you are looking to swap XDC tokens around.
Their CEO is doing interviews and AMAs. He seems knowledgeable and genuine, for what it’s worth. I’m not in a position to test out their payments platform, so I can’t review that. All in all, Globiance is an interesting project that is worth further study.
This is just my opinion. I am not a professional of any kind. Nothing I say or write should be considered financial advice. Thanks for reading.