Globe: Origin Story
Globe (aka. GlobeDX) is the cryptocurrency derivatives exchange that gives both consumers and institutions a platform to transact digital currencies. Once dubbed as “Coinbase for derivatives,” Globe shares not just their depth of vision, but also the earliest investors of Coinbase.
This platform remains the only low latency, institutional grade crypto derivatives exchange open to the public, delivering 3 microsecond latencies and extreme throughput and performance during major market moves. Moreover, Globe’s open access data and Globe Research helps level the playing field data-wise between traders and institutional investors
But where did it all begin and how did the exchange get its start? For that matter, who are the founders?
Our story begins with two men: James West and Shaun Ng. West is a technologist, digital assets pioneer, and former investor and trader. Ng is a trader, crypto enthusiast, and former theoretical physicist. Later down the line, West would become the CEO of the company, while Ng would be CTO.
This team of two were once college roommates before going their separate ways to partake in PhDs/trade markets. Some time later, they would reunite, and their original plan was to launch a crypto market-making business. They eventually came to realize that the largest gap in the markets was not actually in the market-making; it was in the exchange side of things. Knowing this, they took on the roles of global market custodians. According to West:
“I had realized quite how much crypto was going to change things and how much of an opportunity there was to go do that. I called up my best friend from university and we started Globe.”
The company would hold its first funding round on March 18, 2019, raising $150 thousand from lead investor, Y Combinator. On November 20, 2020, in another funding round, the company received $3 million in an array of top investors such as Y Combinator, Pantera Capital, and Timothy C. Draper.
West and Ng’s goal was to bridge the divides between East and West and provide solutions for various issues that were prevalent in the crypto space at the time. Furthermore, they hoped to help direct the market towards where they thought it would eventually need to go.
How does it compare to other exchanges?
All existing crypto derivatives exchanges suffer most from:
- A lack of innovation. Globe created and was the first venue to offer bitcoin VIX futures, and one of the first handful with DeFi perpetuals.
- Difficult to use and invasive.
- Deteriorating under even the smallest amount of pressure from the market, resulting in unfair outcomes for traders.
- Custody is unsafe, lacking proper institutional protections.
- Lack of serious API support.
Globe stands out from the rest of these exchanges. Its launch introduces new types of crypto future, brings under one roof fragmented existing perpetuals, can be signed up for in seconds, delivers and withstands orders of magnitude greater market stress than previous generation exchanges, offers insured cold storage, easy to use websocket API with sample clients, and has no internal trading desk.
Validation for demand and mainstream adoption
Globe has a vibrant and continuously growing community and receives support from some of the largest whales in crypto. These are entities that back this platform out of a desire to see better solutions to the derivatives exchange model.
Globe supports users from almost all the countries in the world, with the U.S. being an exception. It offers an incredibly quick and simple sign-up process. Being the only low latency derivatives exchange, this platform is the link that connects traditional finance to the world of digital assets. And it does so in a seamless fashion that benefits everyone.
Globe is a crypto derivatives exchange where institutions and consumers transact digital currencies like Bitcoin via perpetual futures contracts.
The Billion Satoshi Puzzle: https://medium.com/globe-official/globe-exchange-the-billion-satoshi-puzzle-44cbb8487820
How to register/start trading on Globe: https://globedx.com/en/blog/register-start-trading-with-globe/
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