Cardano R&D Firm IOHK Partnering With Oasis Pro To Create a Bond Issuance Platform
On Sunday (September 26), IOHK (aka IOG), the blockchain technology firm, which develops the Cardano Protocol and was founded by Charles Hoskinson, announced that it has partnered with Oasis Pro Inc. (“Oasis”), the majority owner of Oasis Pro Markets, which offers “the first US-regulated Alternative Trading System (ATS) authorized to allow users to trade digital securities and make payment for those securities with digital cash.”
On January 20, Oasis Pro Markets issued a press release, which announced that it had it had managed to get approval from FINRA and the Securities & Exchange Commission (SEC) for its Digital Security Alternative Trading System (“ATS”).
In this press release, Oasis said that its ATS is authorized to allow subscribers to:
- “Trade both registered and unregistered securities on the ATS”
- “Trade digital securities OTC”
- “Trade both equity and debt in digital form through the use of a blockchain”
- “Invest in initial private offerings that can be recorded on a blockchain”
In a blog post published yesterday (September 26), IOHK said that the purpose of its collaboration with Oasis Pro is to “develop an alternative trading system that will use blockchain technology to open up participation in primary bond markets to developing countries.”
It went on to say that Oasis’ ATS, which is called OATSPRO in the US, “allows secondary trading of public and private multi-asset digital securities.”
IOHK had this to say about OATSPRO technology and its upcoming integration with Cardano:
“The Oasis Pro technology facilitates digital cash for digital securities transactions, and the use of the Cardano blockchain to remove the need for intermediaries such as banks from the process will cut trading fees by half. The combined platform provides a viable and secure financing alternative for governments of developing nations.
“With recent reductions in foreign aid and investment, many governments are struggling to access capital. The integration of OATSPRO technology with users of Cardano’s ada cryptocurrency – with a market capitalization of $70 billion – will enable a new source of foreign investment to be tapped for crucial infrastructure projects.“
John O’Connor, IOG’s Director of African operations said:
“At IO Global, our mission is to build systems which widen and democratize access to vital financial and social services, for both governments and citizens alike. This was the drive for our partnership with the Ethiopian Ministry of Education this year to bring provable educational credentials to students and teachers across the country, and it is the same for our work with Oasis.
“Systems like the one Oasis is developing are essential to bridge the growing global investment gap and give developing nations the tools to level the playing field and invest in critical infrastructure.“
And Pat LaVecchia, CEO of Oasis, stated:
“Developing nations often lack the access to overseas capital that other nations have. We want to ensure that this changes. IO Global’s vision to democratize opportunity aligns closely with our desire to ensure access to financial markets for developing nations, and this partnership represents a key step in enabling greater accessibility to international capital markets for those that require it.“
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Image Credit
Featured image is a screenshot from the website of Oasis Pro Markets, LLC.
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