Categories: Ethereum

Globex Announces Its New Open Order Book System

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Blockchain software solutions company Globex US Holdings Corp. is launching its new Open Order Book digital securities exchange software. Users can now bid on order-driven, digital asset-supported marketplaces through the Ethereum blockchain.

Globex Is Coming Full Circle

Using their smartphones or mobile devices, customers of Globex can purchase, sell or trade any tokens (ERC-20) developed or included on the Ethereum network. Open Order Book comes equipped with a dashboard similar with that of a traditional stock exchange.

It also comes with built-in transparency and smart contracts designed to halt market manipulation and protect investors from fraudulent activity and malicious actors. Fake trades are never promoted through volume discounts, and “prop trading” is strictly forbidden.

All transactions occur on-chain to ensure that there is some form of auditable record for the future. In addition, the platform offers several trading pairs that are settled within minutes, not hours or days. Currencies are tied to fiat, so investors are not subjected to the same volatile properties that affect most forms of digital currency, and each customer is given their own private key to prevent cyberattacks and theft.

Globex CEO Brian Collins explains:

The digital asset community deserves a compliant secondary trading solution that upholds the core values of a public blockchain. We believe Open Order Book has the ability to usher in a new wave of quality issuers while leveling the playing field for investors to benefit from the liquidity that a global network of transparent, accessible, regulated trading venues will offer.

Dr. Andrew Le Gear, the company’s chief technology officer, explained the motivation behind the platform’s unique look and style. He claims:

When developing Open Order Book, we were in a position to observe and solve the challenges that both traditional and crypto exchanges face. We believe Open Order Book showcases the best of both worlds for digital securities participants to transparently and securely trade on the blockchain.

Working with Government Authorities

Recently, Globex signed what’s called a “Memorandum of Understanding” with the government body of Antigua, a small island nation in the Caribbean. The memorandum has paved the way for Globex to provide the country with its own digital stock exchange that will also be powered by Open Order Book’s transparency and smart contracts capabilities. The company is also releasing a new trading app known as “Game of Trades” in the coming months.

Among the company’s primary goals is complete government compliance with present laws surrounding digital currencies. Globex is very concerned about the lack of regulation in the digital asset market, believing it has paved the way for criminal activity, theft and cyber-related problems. The idea is to utilize the power of both “Wall Street and the Silicon Valley” to bring a whole new system of safe and secure apps for cryptocurrency enthusiasts to use.

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