Business 19 February 2019

Dennis Wafula

Globitex launches the EURO wallet

Globitex, a cryptocurrency exchange, has announced the launch of its EURO wallet on February 13.

According to reports, the EURO wallet will allow users to receive and make payments on a personal IBAN account like in any EUR bank account. Users will gain access to these accounts through the Globitex platform. 

Globitex claims that this service will be a solution to banks closing accounts belonging to cryptocurrency businesses. The announcement read:

“The Euro Wallet allows users to make and receive EUR payments on a personal IBAN account like any other EUR bank account. The account can be accessed on the cryptocurrency exchange platform providing the user with seamless transactions and EUR under their full control in mere seconds, after withdrawing from their Globitex trading account.”

The announcement further explained that in addition to the transaction fees, there is a monthly outboard transaction limit for individuals who will pay 30,000 Euros (about $33,832) or 200,000 Euros for companies.

While commentating on the new service, Globitex CEO Uldis Teraudkalns stated, “Globitex strives to be the market leader in convenience, security, and compliance. With these values in mind, we have created the EURO Wallet.”

Globitex explained the main feature to the new service include personal IBAN accounts, instant EUR deposits, and withdrawals from trading accounts, SEPA transfers and ability to make third-party payments. Additionally, euro funds will be kept at a European central bank.

The company further added that the new service provides users with personal EUR accounts on the platform, which are similar to their trading accounts. This will allow users instant transfer saving them on time and money spend through making transfers. Teraudkalns further explained that all EUR exchanges allow customers access their money “only with an extra step of transferring the EUR funds to another bank account” in their name which “depending on the bank the exchange uses can take 1-2 days.

Globitex has been preparing for the launch for quite some time now. Finally, they can help shorten the bank process for their customers.

Nexpay UAB, Globitex’s founder company, powers the Euro Wallet. According to their site, Globitex currently supports many cryptocurrencies including Bitcoin Core (BTC), Bitcoin Cash (BCHABC), Ethereum (ETH), GoByte (GBX), and Stasis Eurs (EURS.)

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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