Globiance launches Fiat pegged
stable coins on XDC Network
SGDG, EURG, HKDG, GBPG, USDG and many more
Globiance – a global financial services group with Headquarters in Singapore launches mass-market Singapore dollar and Euro-backed stable coins.
Starting with SGDG and EURG on 30.11.2020, Globiance is planning to add more stable coins like HKDG, CNYG, JPYG, USDG, and KRWG in the near future.
Globiance will cater for all important European, Asian, African and American currencies to provide native currency payments and trading to clients globally.
SGDG and EURG are stablecoins pegged to the Singapore Dollar and Euro, convertible at a 1:1 rate. It is issued on XinFin’s XDC blockchains to leverage the speed, near-zero gas fees, and 2 seconds transaction time. The stable coins are fully compliant with KYC/AML and CFT regulations. Every user has to pass Globiance KYC/AML checks before starting to trade.
How to get digital SGDG or EURG?
After logging in to the platform and selecting “Deposit” the user will see wire transfer details to send funds. After the deposit has been received the user will receive SGDG or EURG credited to his wallet.
How to convert Stable coin SGDG or EURG to fiat?
The stable coins can be converted to Fiat and withdrawn to bank accounts using the withdrawal function.
Why XinFin’s XDC Blockchain Network?
Regulated stable coin deploy on XinFin’s XDC Blockchain network to leverage 2 seconds transaction speed, 2000+ TPS, and near-zero gas fees. The enterprise-friendly consensus and governance model of the XDC network with KYC enabled masternodes makes it more suitable for entities under a strict regulatory regime to deploy tokens on the XinFin [XDC] Network.
Oliver Marco La Rosa, Group CEO of Globiance says “Globiance represents a significant opportunity to set a new standard of transparency and auditability in digital currencies and will help drive trust and mass adoption of stablecoins. Stable coins or digital Fiat use blockchain technology to enhance automation and digitization to for use cases like trade finance or cross border remittance at the cheapest and most scalable way of moving money.”
He also added “Our combined focus will include specific stablecoins, facilitated fiat <> crypto exchanges and helping the unbanked and over-banked. Together we will drive wider adoption of blockchain technology like XDC Network.”
Our goal is to bring both business and retail clients to the platform to facilitate completely digital business transactions between the parties.With the stable coins there is no need to withdraw Fiat as the assets can be securely held digitally.
Singapore has embraced financial innovation and has implemented the new Payment Services Act on 28 January 2020 to enable payment service providers (including crypto-asset firms) to operate in the jurisdiction.
Globiance Invites ecosystem partners like exchanges and regulated remittance companies to benefit from the digital currencies.
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