The American FinTech start-up OuroX, founded by South American entrepreneurs, signed a letter of intent with the Suriname Stock Exchange with the goal of establishing a modern digital National Securities Exchange, headquartered in Suriname. This first step paves the way for OuroX to develop and operate the new digital National Securities Exchange.
OuroX uses blockchain technology to digitize assets, which increases transparency, efficiency, trust, and allows for better supervision in capital markets. With companies in large parts of the Caribbean and Latin American region still mainly dependent on lending to facilitate growth, this technology will allow exchanges in the region to upgrade their technical infrastructure and connect to the larger capital markets in the world. This results in direct regulated foreign capital investment flows into the region.
OuroX provides access to capital market financing options and instruments, not only for small, medium and large companies, but also for banks, investment funds, pension funds and governments. Pension funds will be able to invest in new financial products and can create a better return within their current jurisdiction. A bank can increase their liquidity by listing loans with good ratings on the exchange.
In addition, OuroX provides opportunities for the startup and small to medium-sized enterprise (SME) market to build and expand their businesses. According to the World Bank, the market capitalization of securities on a national exchange reaches an average of 55% of the country’s GDP. SMEs are an integral part of the economy and generate the largest amount of jobs. With incubators and accelerators developing around the exchange, this will lead to a boost of the region’s economies.
“The opportunity is of course much larger than just company shares and bonds. We will grow steadily by creating products for real estate, commodities trading (including oil and gold), and in the near future also FOREX” explains Serge Tjin Wong Joe, President of Business Development of OuroX.
The National Securities Exchange of Suriname is built using state-of-the-art exchange soft- ware from OuroX’s American FinTech parent company. The software is developed together with AlphaPoint, a market leader in innovative exchange software. Working with AlphaPoint, who also built the Chicago Mercantile Exchange, was a strategic decision. The partnership allows OuroX to easily connect to international capital markets and also allows the exchange to be compliant with the latest financial regulations internationally.
BEYOND THE EXCHANGE
In addition to providing cutting edge exchange platforms, OuroX’s payment app OuroPay, was released in the third quarter (Q3) of 2019, and complements the exchange by offering fast, safe, low-cost payments and cross-border remittances.
Moreover, an e-commerce platform similar to that of Alibaba for the Latin America and Caribbean region is also in the works. ‘’Our vision is to advance financial inclusion and boost economies in the region by improving the way people interact financially using modern technology that has already proven successful in other regions of the world’’ says Nadira Ramautarsing, Chief Marketing Officer of OuroX.
Maya Parbhoe, Chief Executive Officer of OuroX is ready. “The future is now. It is important to understand that the development and implementation of the new digital exchange, with the full cooperation and support of regulators, will be possible in just a few months. The investment in the technology has been made by OuroX, regulatory frameworks are drafted, and the exchange is available to financial institutions, companies and governments.’’
More information on OuroX can be found on www.OuroX.io
OuroX is currently offering an investment opportunity through ownership in the company: www.startengine.com/ourox