Euro Wallet, a banking solution with instant transfers
Cryptocurrency exchange Globitex has launched a new service called the Euro Wallet which allows users to make and receive euro payments in their personal IBAN accounts like any other European bank account. The company claims that this service is a solution to banks closing accounts of crypto businesses.
The Euro Wallet allows users to make and receive EUR payments on a personal IBAN account like any other EUR bank account. The account can be accessed on the cryptocurrency exchange platform providing the user with seamless transactions and EUR under their full control in mere seconds, after withdrawing from their Globitex trading account.
The service is designed to assist crypto users, traders, miners, and businesses in the EU. Globitex CEO Uldis Teraudkalns explained that this new product offers access to a fully functional IBAN account via the Globitex cryptocurrency exchange as well as instant deposits and withdrawals on Globitex trading account. According to its website, the exchange currently supports the trading of BTC, BCH, ETH, GBX, and EURS.
In addition to various fees for using the service, there is a monthly outbound transaction limit of 30,000 euros ($33,832) for individuals or 200,000 euros for corporate entities.
Globitex explained that among the benefits the new service offers are personal IBAN accounts, SEPA transfers, instant EUR deposits and withdrawals from trading accounts, and the ability to make third-party payments. Meanwhile, actual euro “funds are kept at a European central bank,” the company noted.
Teraudkalns reiterated that the new service provides users with their personal EUR account on the same platform as their trading account, thus allowing for instant transfers which save them “time and money when moving funds.” He elaborated that all EUR exchanges let customers access their money “only with an extra step of transferring the EUR funds to another bank account” in their name which “depending on the bank the exchange uses can take 1-2 days.”
Furthermore, he emphasized that his company “will never say no to a client because their business is related to cryptocurrency,” unlike many banks in Europe that close customer accounts dealing in cryptocurrencies with no explanation or charge them “ridiculous fees for banking services.”
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