GlobeX

Problem Statement

The Forex market ($7T+ daily) is the largest financial market in the world and dwarfs the equities market, and yet we do not have enough representation of FX assets onchain. FX in TradFi face:Persistent settlement risk (Herstatt risk)High costs for retailLiquidity gaps outside London/New York sessionsReliance on outdated infrastructure (SWIFT, correspondent banks) with multi-day settlements,Lack of transparencyOUR SOLUTION A single sided LP, Oracle based AMM for FX markets powered by Pyth Network and PYUSD. Single-Sided Liquidity Pools – Lower risk for LPs, no Impermanent Loss. Pyth Oracle Pricing – Accurate, real-time FX rates. PYUSD Settlement Layer – currency for global FX trading. On-Chain FX Derivatives – Trade synthetic global currencies. Instant Settlement – No waiting days for cross-border transfers.

Solution

Our solution is a single-sided liquidity provision, oracle-based AMM designed specifically for FX markets, powered by Pyth Network’s high-frequency price feeds and backed by PYUSD collateral. By integrating Pyth’s reliable and real-time FX asset rates, we can create synthetic representations of global currencies that traders can access instantly, without relying on fragmented liquidity pools or intermediaries. PYUSD serves as the stable and transparent collateral layer, ensuring that the synthetic FX market remains secure, efficient, and scalable. This architecture enables seamless on-chain trading of currency derivatives with instant settlement, reduced costs, and fair pricing, making global FX markets more open and accessible to all participants.