Globitex to Take Part in Mastercard Program
- The cryptocurrency exchange is the first digital assets firm to take part in the Lighthouse Development Program
Latvian cryptocurrency exchange Globitex has become the first company from the digital asset markets to be accepted into the Lighthouse Development Program (LDP).
Established by investment firm NFT Ventures and 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 giant Mastercard, the LDP supports financial technology companies in the Baltic and Nordic countries.
Two sets of fifteen firms are chosen every half year to join the program, with participants benefiting from access to partnership discussions with tier-1 banks and Mastercard.
“We received hundreds of applications and inquiries from fintechs all around Europe,” said LDP Director Jay Jensen.
“The quality of [financial technology firms] coming out of the Baltic and Nordic capitals is perhaps the highest in the continent, and we are thrilled to see more companies applying each year.”
"We hope to prove ourselves to Mastercard"
Globitex, which is based in Riga, stands to gain a lot from the LDP.
Cryptocurrency firms have frequently come up against opposition from both payments firms like Mastercard, as well as traditional banks which, eager to avoid Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund charges, have generally stayed clear of firms dealing in digital assets.
"Globitex is very proud and humbled to be the first cryptocurrency business to participate in the [LDP] among such a strong group of Fintechs," Globitex CEO Uldis Teraudkalns.
"We hope to prove ourselves to Mastercard and other program participants as a reliable and innovative strategic partner."
Latvian cryptocurrency exchange Globitex has become the first company from the digital asset markets to be accepted into the Lighthouse Development Program (LDP).
Established by investment firm NFT Ventures and 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 giant Mastercard, the LDP supports financial technology companies in the Baltic and Nordic countries.
Two sets of fifteen firms are chosen every half year to join the program, with participants benefiting from access to partnership discussions with tier-1 banks and Mastercard.
“We received hundreds of applications and inquiries from fintechs all around Europe,” said LDP Director Jay Jensen.
“The quality of [financial technology firms] coming out of the Baltic and Nordic capitals is perhaps the highest in the continent, and we are thrilled to see more companies applying each year.”
"We hope to prove ourselves to Mastercard"
Globitex, which is based in Riga, stands to gain a lot from the LDP.
Cryptocurrency firms have frequently come up against opposition from both payments firms like Mastercard, as well as traditional banks which, eager to avoid Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund charges, have generally stayed clear of firms dealing in digital assets.
"Globitex is very proud and humbled to be the first cryptocurrency business to participate in the [LDP] among such a strong group of Fintechs," Globitex CEO Uldis Teraudkalns.
"We hope to prove ourselves to Mastercard and other program participants as a reliable and innovative strategic partner."