Cryptocurrency Exchange Globitex now Supports EURO Wallet

Institutional grade cryptocurrency exchange platform, Globitex launched their EURO wallet.

In 2017, the company was granted with European Electronic Money Institution (EMI) license by the Bank of Lithuania, a regulatory authority in the European Union, to carry out payment services and e-money issuance in the EU. The license was granted to its parent Globitex Holding (Latvia) group subsidiary NexPay UAB to provide money transfer service.

Executive opinion

The CEO of Globitex, Uldis Teraudkalns, has spoken about the EURO Wallet, stating: "Globitex strives to be the market leader in convenience, security, and compliance. With these values in mind, we have created the EURO Wallet. The EURO Wallet offers unrivaled functionality of having access to a fully functional IBAN account via the Globitex cryptocurrency exchange as well as instant deposits/withdrawals on Globitex trading account."

More about EURO wallet

Globitex exchange's users can make and receive payments in EUR with newly introduced euro Wallet with their personal IBAN account like any other EUR bank account.

International Bank Account Number (IBAN) is used in to uniquely identify a user's bank account. An alphabetical country code, followed by two digits, and then up to thirty-five characters for the bank account number makes an IBAN code.

Thus money can be deposited directly to the account as soon as conversion from cryptocurrency to EURO complete post-trade. Generally, exchanges allow users to access to fiat money after transfer to the user's bank account when initiated manually. This could be time consuming. Gobitex now provides EURO account on its trading platform thus eliminating this extra step to initiate the money transfer.

Further Gobitex allows SEPA (Single Euro Payments Area) for cross-border Euro bank transfers which are almost instantanious. Gobitex has also enabled third party payments with the introduction of their EURO wallet.