Globiance has been designed from inception to incorporate all regulations and obtained the proper licensing. Globiance remains up-to-date and in full compliance with the laws and requirements of individual regions and markets.
Globiance acts as a *temporary* custodian of crypto assets on behalf of the user. However, sole ownership and control of crypto assets always remains with the holder. Globiance ensures 100% asset protection when utilizing the Globiance platform.
Fiat currencies are deposited in financial institutions for security purposes. This protects the fiat currency from theft or loss, while at the same time allowing the currency to be easily accessed by account holders when needed.
Globiance holds only small amounts of assets in hot (online) wallets, at any given time. Incoming funds are moved and stored offline in a secure cold wallet (completely inaccessible to hackers), providing even greater asset protection. In addition, any assets held in hot wallets are 100% secure - guaranteed.
GLOBIANCE - 100% Insured Hot Wallets
Globiance utilizes hardware wallets in addition to special ‘multisig offline-wallets’ to secure all cryptocurrency holdings. Hardware wallets are physical devices that store the users private keys and allow users to sign transactions offline - whereas Multisig (multi-signature) wallets require multiple signatures to approve a transaction, adding an extra layer of security.
The cold wallets used by Globiance are stored offline and cannot be accessed by an online connection at any time. This extra security measure prevents hackers from accessing wallets while keeping assets secured 24/7.
Hot Wallet Security guarantee - All assets stored on the Globiance Platform in ‘Hot wallets’ are 100% secured and backed by Guarantee. In the event of ‘loss of funds’ Globiance guarantees a 100% full replacement. Crypto assets are always 100% guaranteed safe and secure on the Globiance Platform.
Your assets are always 100% available to you. We never lend your assets to anyone, so you can always access them when you need them.
Globiance is licensed as a ‘Financial Institution’ in addition to a ‘Crypto Currency Exchange’. Financial Institution licenses in countries such as the USA and Europe for example have additional regulations and requirements in place that must be adhered to. These requirements are much stricter than those of platforms that operate solely as Crypto exchanges.
Switzerland (SRO membership)
Globiance is currently in the application process for additional licenses i.e. in SG, TH, JP, KR, MY, UK, UAE, and more.
These platforms will be activated as soon as the necessary licenses have been obtained.
Globiance aims to offer the following services in each region of operations:
Attaining registration as a virtual asset service provider (VASP) through a country's regulator, ensures that a crypto company has an Anti-Money Laundering (AML) framework which is accepted and recognised by the local authorities. In most countries, a VASP designation indicates that the company has controls in place to reduce the risk of money laundering. It also ensures that customer funds are always kept separate from company assets. This is essential for the protection of investors if there is ever company insolvency or fraud.
A financial institution is an organization that provides financial services to its clients. Financial institutions can be banks, credit unions, insurance companies, investment firms, or any other type of company that offers financial products and services.
The Security Exchange is a marketplace where securities are traded. Securities exchanges may be physical locations where traders meet to buy and sell securities, or they may be electronic networks. Security exchanges are regulated by government agencies in order to protect investors.
Different Services are available in different regions based on the licenses that have been obtained in the region. The entities/license providers you are dealing with can be viewed in the *footer of every regional platform.
A payments team manually processes withdrawals using several check points. The withdrawal process is somewhat slower than other exchanges as it is stored in wallets that are not connected online. This system is designed to minimize risk and protect client assets.
The majority of Globiance users appreciate the extra security and understand the increased withdrawal processing time.
Globiance's team of experts manually review withdrawals - a security measure that other exchanges lack. News reports regarding hacks at major exchanges are all too common these days and Globiance clients appreciate the extra effort spent to ensure asset protection.
In general, most withdrawals are processed within one hour however, larger withdrawal amounts can take up to 24hrs to be fully processed.
Globiance stablecoins EURG, USDG, HKDG, SGDG, GBPG, CHFG … are backed by 100%+ Fiat that is held in bank accounts.
The price of the stablecoins never fluctuates on Globiance.
Globiance Stablecoins are backed by FIAT only.
When using Globiance Exchange Worldwide, tokens are backed 100%+ and are redeemable 1:1 at all times.
Other exchanges depend on buy/sell volume which causes the price of the stablecoins to fluctuate slightly - due to market movement. This is never the case at Globiance.