Globcoin Launches GLX Stablecoin, Fully Backed by 15 of the World's Top Currencies and Gold

ZUG, Switzerland, January 24, 2019 (Newswire.com) -  Today, financial technology firm Globcoin is launching the GLX coin, the world’s first stable coin backed with the world’s top 15 currencies and gold, commemorating Davos 2019 World Economic Forum.

GLX Stablecoin, the world’s most stable coin, can be used as:

-      The most universal stable means of payment (not linked to a single currency);

-      A hedging tool against crypto volatility: the current crypto market condition shows a strong need for stable coins; 

-      A hedging tool for traditional fiat investors looking for an inexpensive and easy way to safe harbor their currency positions.

Globcoin has been offering a Globcoin basket of fiat currencies to institutional and private clients since 2010. Indexed by performance since inception, Globcoin basket has outperformed the Swiss Franc as a less-volatile option every year since 2010, the GLX Index shows.

To make GLX basket more financially accessible and to make it easier to use, Globcoin’s team developed GLX Stablecoin by putting the Globcoin basket onto blockchain, a complex two-year effort involving close collaboration between financial industry regulators, financial industry experts, blockchain engineers and programmers specializing in financial services. The end result is that GLX Stablecoin is backed by real-world currencies and assets. The world can now benefit from a digital basket of the world’s 15 largest economies, weighted by their GDP and adjusted for purchasing power parity.

The GLX Index is well-diversified amongst G10 currencies, emerging currencies and gold, covering about 85 percent of the world economy. Each 1 GLX Stablecoin is redeemable into all major currencies at any point in time for that stable value, which is denominated in fiat. 

“With a 1:1 conversion rate, GLX Stablecoin is 100 percent backed by fiat currencies and gold and is fully exchangeable, which makes it 100 percent liquid from day one – meaning today,” says Hélie d’Hautefort, founder and CEO of Globcoin. “Being backed by G10, emerging economies currencies and gold, GLX Stablecoin’s diversification makes it the most stable coin on the market.”

Globcoin customers can now purchase, sell, send and receive GLX Stablecoin at https://globcoin.io/. GLX Stablecoin is fully collateralized with its equivalent fiat currency held in segregated accounts, subject to public auditing. 

About Globcoin 

Closely held Globcoin is headquartered in Zug, Switzerland’s Crypto Valley and belongs to the Optiminvest Group, which was founded in 1998 by Hélie d'Hautefort. During a successful 10-year partnership with BNP Paribas, with $22 billion in assets under management, the company was ranked among the top five of the world’s leading currency managers.

Today, Globcoin takes full advantage of the blockchain technology to revolutionize cross-border global payments and currency, transaction hedging. By being pegged to the world economy as opposed to a single currency, GLX Stablecoin is a unique instrument that has changed the way money moves around the world.

Media contact:

MVG for Globcoin: please contact Max Smetannikov at max@mvgmain.com or +1 646 205 3070

Source: Globcoin