Q&A: Using cryptocurrencies can be a hassle, how can we make it easier?

A big challenge in the quest for mainstream adoption is making cryptocurrencies easy to use. Trading digital assets can be clumsy at times—putting consumers and businesses off alike.

We caught up with Globiance founder and CEO Oliver Marco La Rosa to find out what his company is doing to break down barriers to entry.

1. Hello! Tell us about Globiance.

We started Globiance to solve a major problem: cryptocurrencies and the traditional banking system don't work together.

Currently, investors have no choice but to log into different platforms to manage their funds. This is time consuming, and converting to fiat can be more complicated.

Our original goal was to bring exchanges, wallets, and banks under one centralized roof — and we’ve come a long way since those early days.

2. Regulatory uncertainty has been a major consideration for many crypto businesses. Where is your headquarters? What is your organizational structure?

We believe in unrestricted global reach - the nature of our business means we need to comply with the licensing rules and regulations of every country in which we operate. We take this very seriously. Globiance initially launched in Europe, and we've since launched in 21 countries on five continents - and we're aggressively expanding globally.

3. What licenses do cryptocurrency exchanges need? Can you tell us about your license?

Licenses vary from country to country – in one country you might be a virtual asset service provider, while in another you might be a cryptocurrency exchange.

We will not be opening in any area until all appropriate approvals and permits are in place. Globiance does not cut corners, and our legal team ensures that every little rule and regulation is fully understood and strictly followed.

4. Why is there a need for a closer link between the traditional financial system and cryptocurrencies?

Currently, cryptocurrency holders have to move funds from an exchange to a wallet and then from a wallet to a bank because there is no connection. Frankly, it's a hassle.

Globiance brings the reliability of time-tested legacy systems and combines it with the latest digital asset technology, bringing fiat and cryptocurrencies together on one platform and making them interoperable. This fusion makes any transaction easy.

5. What are the benefits of using Globiance compared to traditional bank accounts?

Globiance combines the best of both worlds. Online banking, as it is known, is available - along with payment functions, cryptocurrency transactions, quick exchanges, customer referrals, debit cards, NFTs and staking.

You can also trade your cryptocurrencies on exchanges – both decentralized and centralized are available. We also have a downloadable application, which is another way for users to access Globiance platform services through mobile devices.

The Globiance platform offers a new user experience with a plethora of options and rewards that go well beyond banking - we have a native token called GBEX.

6. Globiance is based on the XDC network. Why is this blockchain so special?

Globiance chose the XDC network because of its decentralized setup. The XDC network is also very reliable, which is important to us. Its low transaction costs, scalability, and fast transaction confirmations make it an ideal choice.

7. How does your "anti-whale" feature work?

Crypto whales are an unfortunate reality in the crypto world. We have figured out a way to minimize the ability of whales to manipulate our native token GBEX using large holdings.

Globiance requires every new account to fill out a KYC verification profile, and each wallet can only hold 0.5% of the total token supply, which makes manipulation more difficult.

8. Where is Globiance currently available and why are you focusing on Latin America?

Globiance is already available in the US, Europe, Switzerland, Chile, Turkey, Australia, British Virgin Islands, South Africa, India and Brazil.

While Latin America is one of our key regions, other regions such as Asia and Africa also play an important role in our expansion plans. In some of these areas, almost 100% of the population owns a mobile phone, but less than half have a bank account.

Globiance platform services can introduce new opportunities and bring about positive change in these regions - simply by opening the door to the crypto world. We can provide online financial services without the need to open a traditional bank account.

9. You also offer encrypted payment gateways for businesses. Does the volatility of Bitcoin and Ethereum make it less attractive for merchants to accept them?

We give merchants more choices. The instant exchange function means that once the cryptocurrency is in their account, they can convert it into fiat currency immediately.

Our encrypted payment gateway has been integrated into e-commerce gaming sites, and we have launched a lightweight mobile point-of-sale system with ultra-fast payment speeds.

10. Your vision is to ensure "everyone on the planet has easy access to digital assets" - what are the main obstacles to overcome?

When we enter a new region, the most common challenges we face are usually related to permits and regulations, as this can be time consuming.

Beyond that, spreading the word and telling people that these services exist and are available now is probably our next biggest challenge.

11. Your business started in 2018. How do you think this bear market compares to the one four years ago?

There are always ups and downs in any market. I don't look at charts every day. When I take the long view, I see the bigger picture, and that's what I focus on.

In the case of Amazon, for the first 10 years we didn't see much real growth, and then it just took off. During that time, we have had bull and bear markets. In the long run, it doesn't matter.

The good thing is that in 2018, cryptocurrencies were not as well known or widely used as they are today, so we expect the bull market to return sooner than it did four years ago. Meme tokens are not a long-term investment. It is important to understand the utility behind a token.

12. Please tell us about your major plans for the next 12 months.

Globiance has recently made its first connections to important metaverses. We want to be the Metaverse Bank - providing financial services to users of the virtual world and handling their payment needs.

We’re planning to roll out features for the whole family — including kids accounts, crypto savings, and pocket money — to give younger customers early access to financial services.

Globiance has more exciting plans to announce in the next 12 months, so stay tuned!

Learn more about Globiance .