Globiance launches Fiat pegged
stable coins on XDC Network
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.
EUR – xdc5231fc6c065466c9ef99278ebe59c1b29fd7ccd0
GBP – xdc9ebedd5f691ae16538dfbf7cd0f043622eb34d4d
SDG – xdcd0148cb95da3ef32e198905258a0f0af3ea9bd27
HKD – xdc192d70ff2ac21cc2f4788264c7d04502c6412094
USD – xdc9c1eb1ea34e70ac05b5ee5515212e9ec201cfc5d
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.
The stable coins can be converted to Fiat and withdrawn to bank accounts using the withdrawal function.
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.
Apply for a partnership at contact us or email to [email protected]
eXchange inFinite (XinFin), is a Delegated Proof of Stake Consensus network (XDPoS), enabling Hybrid Relay Bridges, Instant Block Finality and Interoperability with ISO20022 messaging standards, making XinFin’s Hybrid Architecture Developer friendly.
Interoperable Blockchain Network for Global Trade & Finance which enables Digitization, Tokenization and instant settlement of trade transactions, increases efficiency and reduces reliance on complex FX infrastructures, allowing for increased flexibility in liquidity management for financialinstitutions
|Comparison Criteria||BITCOIN (BTC)|
|Transactions per second||3-6||12-16||2000+|
|Average fee||15 US$||10 US$||0.0001 US$|
|Transaction confirmation||10-60 minutes||10-20 seconds||2 seconds (w/finality)|
|Smart contract support||NO||YES||YES|
|Energy consumption||71.12 TWH||20.61 TWH||0.0000074 TWH|
Through our ecosystem, a large number of the world’s fiat currencies can be exchanged and transferred at the lowest possible rates
- in the most efficient way.
With thousands of members all around the globe, the XinFin Network has one of the fastest growing communities.
Stable Coins are running on the XinFin blockchain, which uses significantly less energy, compared to competitive solutions
with much lower confirmation time and higher transaction rates, using Stable Coins has never been more convenient.