The “GLX” is a stablecoin whose value is linked to a currency basket. This currency basket is 95% made of fiat currencies from the 15 largest economies in the World and 5 % made of Gold. We took the best of cryptocurrencies and mixed it with the best of fiat currencies, based on our knowledge and experience in both.

Composition of the GLX

The GLX is a digital token linked to a currency basket of the following,

19,84% — US Dollar

14,96% — Euro

20,00% — Chinese Yuan

5,43% — Japanese Yen

10,06% — Indian Rupee

2,93% — English Pound

4,04% — Russian Ruble

3,26% — Brazilian Real

2,49% — Mexican Peso

1,79% — Canadian Dollar

2,07% — South Korean Won

2,24% — Turkish Lira

3,38% — Indonesian Rupiah

1,28% — Australian Dollar

1,21% — New Taiwan Dollar

5% — Gold

As you can see, we were careful that the value of the GLX reflected the actual World Economy, by including new components and trends such as the booming economies of China or India, while maintaining a good balance of the currencies of Western economies.

The benefits of the GLX

Pegged to fiat currencies on a 1 X 1 ratio. The assets will be in custodian with a Prime Bank meaning that for every GLX issued there will be the collateral in Fiat currencies and Gold. Super stability. The GLX is even more stable against all major currencies than the Swiss Franc (for more detailed info about stability please refer to our Whitepaper). Usable as a unit of exchange. You will be able to exchange your USD, EUR, Swiss Francs or any fiat currency into the “GLX” . Auditable. On one side, the composition of the basket is fully transparent as we have a very detailed rule book explaining the rules of allocation. On the other hand, there will be an external auditor regularly auditing the currency deposits at the bank and checking that it perfectly matches the number of GLX issued. It has already been offered to large, private clients for 5 years. So we know it works.

— -The launch of the GLX is subject to obtention of regulatory approval. — -

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*Written by: Eva — GLOBCOIN Community Manager