What is Globcoin?
Globcoin, launched by Zug-based company Reserve Company Solutions SA, is a multi-currency payment platform combining the advantages of fiat currency and digital money which aims to provide individuals around the world access to secure, fast, and cheap transactions.
Dedicated to creating an environment wherein clients can build currency baskets depending on their needs, Globcoin’s currency is associated with gold and 15 of the most important economies around the world.
Based on Ethereum blockchain technology, Globcoin had made services which were once exclusive to a few available to the public.
A varied set of chosen currencies with different weightings called currency baskets have the role of minimizing risks of value fluctuation which may occur in a single-reference currency. The platform has been offering cryptocurrency baskets to both significant organizations and family offices since 2012. Now, they will make this type of currency management available to all of their customers.
Still, while the advantages seem obvious, there are some restrictions on the use of currency baskets such as the barrier of size, the barrier of price, and the barrier of infrastructure. Foreign exchange markets only trade in large amounts. At the same time, only experienced currency managers would be able to receive liquidity and good pricing for transactions which involve currency pairs from the basket. Also, buying and selling individual currency pairs with one quoted by a limited number of counterparts would require dedicated infrastructure and a professional team.
Globcoin has also developed two Ether tokens:
GCP – a utility token with the ability to access and issue different currency baskets on the platform including the World Reserve Currency or GLX; and
GLX – a token connected to the 15 largest fiat world currencies and Gold, 100% backed on a 1-to-1 ratio.
For each GLX the Prime Bank issues, there will be collateral ibn fiat currencies and gold. GCP tokens would be needed for exchanging and issuing GLX for fiat currency.
The Globcoin Team
With headquarters in both Switzerland and UK, the platform is a pool of talented individuals well-versed in blockchain technology, FX, and successful entrepreneurship.
One of the company’s co-founders and CEO Helie d’Hautefort is known for setting up the first European currency overlay manager and selling it to BNP Paribas which had turned it into a world leader. BNP Paribas had a revenue of over USD 23 million of AUM.
Meanwhile, co-founder Bertrand Weisgerber is the current manager and the creator of TLS Contact, which has become a world leader of visa application over time as it has centers in over 62 countries, with 15 currently in China.
To continue its development, a token sale will be held by Globcoin with the GCP Utility Token to fund the improvement of the current structure of the platform, its PR and marketing, customer acquisitions, and partnership programs. It will also finance two years of future operations such as administration and legal costs.
Globcoin will be providing a stable infrastructure on which its community may engage in safe, cost-effective, and liquid transactions both with digital and fiat currencies.
Token name: GCP;
GCP per 1 Ether: 100;
Minimum Ether to be collected (if not reached, participants can claim a refund): 5,000;
Maximum Ether (will end token sales when reached): 150,000;
Maximum Ether (the pre-sale ends if this cap is reached): 30,000;
Maximum number of tokens generated to crowdsale participants: 15 850 000 to 37.8%;
Maximum number of tokens generated to participants of the pre-sale: 5 100 000 to 12.2%;
Maximum number of tokens generated for future development and market expansion: 12 570 000 to 30%;
Maximum number of tokens generated to the team, early backers, and adviser: 8 380 000 to 20%;
Maximum number of GCP to be generated: 41 900 000 to 100%
It will make an appearance on these events: Crypto Finance Conference in St. Moritz, Switzerland on January 17 to 19; London Blockchain Week and the 6th North American Bitcoin Conference in Miami on January 18 to 19; and the DC Blockchain Summit in Washington on March 6 to 8.