Bitcoin Platform Globitex Becomes Authorised Electronic Money Institution (EMI)

NexPay UAB, a subsidiary of European Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange platform Globitex, has just obtained authorisation with the Bank of Lithuania as an Authorised Electronic Money Institution (EMI), per a corporate statement.

Becoming a fully regulated e-money provider moves NexPay’s business into a new field, allowing the company to improve and extend services to customers. The new status, which is fully passportable to all other EU member states, enables NexPay to issue electronic money and to carry out various related Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term services across all 28 countries.

As per the license details, the updated status allows NexPay to enable cash placement and withdrawals, execute both secured and unsecured payment transactions, issue payment instruments and acquire payment transactions. This also extends to money remittance and execution of payment transactions via telecoms, the ability to clear euro payments directly without the involvement of commercial banks, and the issue of IBAN accounts to Globitex clients.

Commenting on the news, Jon Matonis, Globitex Chairman and Founding Director of Bitcoin Foundation, stated: “I look forward to this evolution of digital currency trading platforms that ensure futures contracts with a physical delivery component. Strong connection to the spot markets, including contract limits and physical delivery that is linked to provisioned commodities, will serve as the market standard for price integrity.”

Liza Aizupiete, Managing Director of Globitex, added: “Globitex is looking to set new cryptocurrency trading standards not only technologically, or by commodities-linked product offering, but especially in Globitex's legal setup, ensuring safe passage to the digital age.”