Baltic cryptocurrency exchange Globitex presented a new service called Euro Wallet, which allows users to send and receive Euro payments on their personal accounts with the international IBAN (International bank account number) like any other Bank in Europe. The company claims that this service is able to replace the banks closing the accounts of cryptovision.
Banking solutions Globitex
The company Globitex, founded by the former Executive Director of the Bitcoin Foundation economist Jon Matonis (John Matonis) reports that access to the account Euro Wallet you can get on the platform cryptocurrency exchange that offers the user trouble free operation and the receipt of funds in euros under his full control in a matter of seconds after withdrawal from the trading account Globitex.
The service is designed to help crypto traders, miners and Cryptosporidium in the EU. CEO Globitex Uldis Teraudkalns explained that this new product offers “access to fully functional account via IBAN cryptocurrency exchange Globitex and instant deposits / withdrawals from the trading account Globitex”. According to the website, the exchange currently supports BTC trade, BCH, ETH, GBX and EURS.
In addition to the fees for the services, there is a monthly limit on outgoing transactions in the amount of 30 000 euros (~ $832 33) for physical persons or € 200,000 for legal persons.
Globitex explains the benefits of the new service there are such nice things as personal IBAN, payments system SEPA (single payment system in the Euro area), instant deposits and withdrawals from trading accounts and the ability to make payments by third parties. Meanwhile, the real Euro “are stored in the European Central Bank”, says the company.
Teraudkalns confirmed that the new service provides users with their own account in euros on the same platform as their account that allows instant transfers. This will save them “time and money when moving funds”. He said that all exchanges allow customers to access their money. Only with the additional step of transferring funds in Euro to another Bank account in their name. And this step is depending on the selected Bank can take 1-2 days.
In addition, he stressed that his company “will never tell customers “no” because their business is associated with the cryptocurrency, unlike many European banks that close accounts of customers trading in cryptocurrency without explanation or charge an absurd fee for banking services.
The licence for electronic money
Euro Wallet works on the basis of the company Globitex, Nexpay UAB. In October 2017, the company received a license for electronic money (EMI) from the Central Bank of Lithuania for the implementation of the payment services and issue electronic money in the EU. Matonis is listed as the General Director of the company on the website of the Central Bank. This license allows the company “to provide customers with payment services and issue electronic money in all 28 countries”, — said Globitex.
“The acquisition of EMI licenses entails the possibility of integration with the system of payments in euros, SEPA directly through the Central Bank of Lithuania, — is spoken in the message exchange. — This will allow Nexpay to make payments in euros directly, without the involvement of commercial banks, and issue IBAN to customers Globitex exactly the same as other banks.”