OuroX
FinTech for Latin America & Caribbean
Regulation Crowdfunding
Wilmington, DE
Financial Services
Accepting International Investment
The world as we know it is changing.
We believe every facet of modern life is about to go through a revolutionary change thanks to the advent of cryptocurrencies and smart contracts via blockchain. The future is increasingly decentralized, and that will leave a major impression on your life.
From the ways your clothes are made and delivered, to how the components in your TV or cellphone talk to one another, this recent technological leap promises to revitalize modern life. Still, there are hundreds of millions of people who may not be able to access that bright future unless something changes.
There are about 650 million people across the Caribbean and Latin American regions, and all of them are looking for their chance to bring their knowledge, passion, inspiration, and experiences to the new global marketplace. It is estimated that 70% of those people - or more than 400 million people - are unbanked or financially underserved, a huge market encompassing billions of dollars (Source). Those 400 million people are at a disadvantage because of their limited access to basic banking services and a dedicated, reliable cryptocurrency exchange that’s capable of bringing their communities into the future (Source).
That's why we’re building OuroX, the first and only cryptocurrency exchange of which we’re aware that’s dedicated specifically to the Caribbean and Latin America. OuroX will provide a lifeline into the future for hundreds of millions of people. And this investment opportunity is your chance to be a part of it.
Try buying (and trading in) Bitcoin from Suriname, South America. It’s not only a hassle, but more close to impossible. This led CEO Maya Parbhoe to pursue the creation of this company. Even a simple wire can be a daunting task. Forget being able to purchase anything online.
Failure to keep up with technological advances in the financial services industry is impeding regional economic growth and competitiveness by costing more time and funds for even basic financial transactions, compared to North America, Europe and Asia.
OPPORTUNITY FOR RADICAL CHANGE AND IMPROVEMENT
We are therefore preparing to launch a comprehensive set of cutting edge FinTech based financial and trade services in the Latin American and Caribbean regions, including:
A highly innovative exchange with a comprehensive trading platform and professional UI named OuroX;
An online and mobile payment processor;
A comprehensive multi-vendor marketplace named Fuente;
A regional shipping costs and logistics calculation tool.
A FINANCIAL REVOLUTION IN LATIN AMERICA
OUROX EXCHANGE
What is OuroX?
OuroX is, at its core, a trustworthy, reliable, secure and cutting-edge cryptocurrency exchange with a comprehensive trading platform and professional UI specifically created to service the Latin American and Caribbean Regions. Though it might be limited to hosting the largest cryptocurrencies at its launch, OuroX will still deliver high-quality functionality with a unique spin that reflects the region. Furthermore, while OuroX will begin as an exchange, we believe it will end as so much more, because OuroX is entering a market that is ripe for disruption.
OuroX Exchange's Amazing Features
OuroX will launch equipped with features standard to any major cryptocurrency exchange. Currently in development with AlphaPoint, the exchange will be an advanced platform capable of handling over one million trades/second. It will launch with five of the largest cryptocurrencies (BTC, ETH, LTC, XRP and EOS).
Where OuroX differentiates itself at the outset is its unique dedication to the Caribbean and Latin American markets. The platform will support English, Spanish and Portuguese to reach the widest audience. Eventually, the platform will support fiat currencies of every market OuroX enters. But at the launch, functions will be basic.
FUENTE
The Fuente marketplace, where buyers and sellers can connect, will create sustainable economic growth in regions where entrepreneurs now have trouble connecting and doing business securely and conveniently.
BLOCKCHAIN
Using Blockchain and distributed ledger technology we believe we can reduce costs and make transfers fast and easy (in real-time) worldwide. We believe that with the FinTech applications in our hands, we have the ability to improve the consumer banking and payment systems in the Latin American region.
WE HAVE A VISION FOR A CUTTING EDGE FINTECH PLATFORM; THE BEST PLATFORM IN LATIN AMERICA AND THE CARIBBEAN, WITH A GLOBAL FUTURE.
THE OFFERING
Investment
$1.67/share of Series B Common Stock│When you invest you are betting the company’s future value will exceed $12.6M.
For details on the bonus, please see the Offering Summary below.
DEVELOPMENT STAGE
Currently we have finished development of the exchange platform, which will launch with the 5 top crypto currencies based on Blockchain technology, and will be launching at the end of October. We will be rolling out several features over the next 4 quarters. Blockchain based payment processing is one of the features we will be developing in the first quarter of 2019. We want to apply for an international banking license in the second quarter of 2019. And will be applying for licenses in the jurisdictions where we will operate.
A NEW VISION: OUROX EXCHANGE
AN EXCHANGE AND A REGION IN NEED OF INNOVATION
Though there are exchanges available, we strongly believe that there is a need for a trustworthy, reliable and secure exchange with a comprehensive trading platform and professional UI.
The Latin American and Caribbean regions lack a dedicated cryptocurrency exchange because FinTech and trade services infrastructure are generally underdeveloped and lag behind other centers of finance. Nevertheless, markets arise whether or not they have the infrastructure to back them, so the regions have made due.
Therefore, while financial services are still available to function, they are tightly monopolized by a few institutions, usually state-sponsored. This lack of support impedes economic growth and competitiveness across the regions, affecting the cost, speed, and ease of financial transactions.
The situation these regions face is difficult. Workarounds might exist but are insecure and poorly built, and the regions suffer. Entrepreneurship and business ownership becomes very difficult due to the overwhelmingly high barriers to entry. Services are provided slowly and selectively, and stagnation is the norm.
What's more, these obstacles also negatively impact fair credit across the regions, keeping businesses in the hands of the wealthiest few (Source). We believe that without a means to secure credit, individuals and businesses are forced to contract, while communities have to make choices that impact lives. Improvements are put off and people suffer. The end result is a hostile environment for both companies and people.
We believe that a cutting edge blockchain based exchange and trading platform built for the regions can help alleviate some of those issues.
We have a vision for a cutting edge exchange; the best exchange in Latin America and the Caribbean, with a global future. And with all our FinTech services, changing the way people interact financially.
WHAT WILL DISTINGUISH OUROX FROM EXISTING REGIONAL EXCHANGES?
According to our research, most regionally accessible exchanges have a poor technical architecture and an insecure platform, the majority of which have been built by people with some technical background. This results often in exchanges that are rushed and use the simplest approach to get up and running. We believe that this might be a low cost way to start, but leaves the exchange open to a lot of vulnerabilities. They have poor market liquidity and thin order books. Slippage is a major problem for traders and users alike. They generally have poor customer service and international support.
Furthermore, putting regional business at an even greater disadvantage is the lack of adequate capacity of current exchanges to accept new investors. There are waiting lists and high liquidity thresholds discouraging entry of these potential new investors.
Add to the above the slow and costly banking transfer practices that are common throughout the region, and it quickly becomes obvious that there is a huge potential for a cutting edge Blockchain based exchange and trading platform.
OuroX will provide a stable solution to a number of the problems facing the Latin American and Caribbean regions by providing a funding route, a means of trading, and the means to facilitate transactions. Just by making these services readily available, OuroX will greatly stimulate entrepreneurship across the region and enable companies to scale more easily than ever before.
As a cutting-edge, blockchain-based exchange and trading platform, OuroX wants to guarantee access to a revolutionary new economy for millions of people across the regions. A secure cryptocurrency exchange will provide a lifeline for investment, growth, and competition by creating an impartial financial infrastructure. Furthermore, once established, OuroX can become the foundation for further improvements.
Following OuroX's establishment in October 2018, the platform will work to establish new functions to better serve the regions. The first addition will be the creation of both merchant services and payment-processing functionality to make OuroX a platform capable of handling every step for entrepreneurs and small businesses. Secured by the blockchain, this will provide peace of mind and a plethora of new options.
Finally, before the end of 2019, OuroX plans to establish a marketplace connecting lenders with borrowers through smart contracts, thus creating an independent credit system. This alternative marketplace would let people connect directly, thus securing loans on friendlier terms. Not only would this lift a massive burden from entrepreneurs in Latin America and the Caribbean, this would allow OuroX to pursue other methods of establishing credit, such as pooled funds and community-driven ratings.
Building a fairer alternative for everyone across these regions is our ultimate goal and it gives OuroX an immense leg-up. Because when we succeed, everyone will succeed.
FUENTE: A COMPREHENSIVE MULTI-VENDOR MARKETPLACE
A REGION IN NEED OF A COMMON MARKETPLACE AND TRANSPARENT SHIPPING AND LOGISTICS APPLICATIONS
At present and to our knowledge, there is no online marketplace available for manufacturers, distributors, sellers and buyers in the region that is in any way comparable to successful platforms that are available in North America and Asia.
The Fuente marketplace, where buyers and sellers can connect, will create sustainable economic growth in regions where entrepreneurs now have trouble connecting and doing business securely and conveniently.
BLOCKCHAIN BASED PAYMENT PROCESSORS
ENABLING FAST AND EASY TRANSFERS
The use of digital payments is on the rise.
However, currently the costs for transferring funds are high, according to our research, about 8% averages worldwide. Using Blockchain and distributed ledger technology we can reduce costs and make transfers fast and easy (in real-time) worldwide.
With the FinTech applications in our hands, we have the ability to improve the consumer banking and payment systems in the Latin American region.
With our platform we can increase accessibility to modern technologies to our customer base. We can enable mobile payments and transactions and change the financial infrastructure of the region.
WITH P2P LENDING AND CROWDFUNDING WE CAN OFFER ALTERNATIVES FOR FUNDING ON THE PLATFORM.
We can enable entrepreneurs to grow and scale their businesses. Moreover, we can provide easy access to finance to the many unbanked in the region, given that according to Global Findex data 2017, mobile phone ownership is widespread among the unbanked. Globally, about two-thirds of all 1.1 billion unbanked adults, do have a mobile phone (Global Findex Database).
HOW OUROX PLANS TO CHANGE THE WORLD
With the team's combined knowledge of the region and firsthand experiences (and frustrations) with its issues, no one knows the industry quite like they do. And that's exactly why OuroX has such an incredible opportunity to make a drastic difference in these developing economies.
A reliable and secure trading platform and cryptocurrency exchange provides a pathway for funding and expansion. When it is able to add in merchant services and peer-to-peer lending, OuroX has the chance to seize on something very rare and unique. We believe it has a chance to step into a vacuum to facilitate entrepreneurship and small business growth across the region in nearly unimaginable ways. In our opinion, OuroX, once all of its features have been implemented, can literally transform Latin America and the Caribbean.
In the US, this transformation came about through Amazon's ubiquitous adoption; China went through a similar change with the introduction of Alibaba & TenCent. But the Latin American, South American, and Caribbean markets have had no such logistical behemoth. We believe that, OuroX has the chance to become that.
This means that eventually, OuroX hopes to encompass e-commerce and logistics, as well. We believe that a platform like OuroX not only has the chance to reshape the region's economic infrastructure, it also has the chance to leave a significant and lasting impression on physical infrastructure as well. One day soon, we believe that OuroX could build up the transportation infrastructure of the Caribbean and Latin American regions to ensure shipping transparency, guaranteed accurate shipping prices, and unparalleled access to even the most remote of communities. It will boost regional commerce and facilitate the easier movement of freight.
A chance to put a latin American startup on the map. And a chance to bring a message of prosperity to the region.
INVEST IN OUROX TODAY!
Now is a great time to consider investing in OuroX. We are well positioned to benefit from the booming FinTech industry in the Latin American and Caribbean regions which is ripe with opportunities for those equipped to grab them.
We believe that OuroX is your chance to actually become a ground-floor investor in a company capable of solving real issues for millions of people. We believe that we have the tools to capitalize on the massive opportunities in these regions.
We believe that OuroX solves some of the issues facing the regions, the execution will be solid thanks to AlphaPoint, and the leadership is exceptional.
Nevertheless, the true opportunity here isn't just the business, its the ability to affect real positive change for hundreds of millions of people. And when an entire region benefits, you'll benefit, and the world will benefit. Don't miss your chance to to put down a tangible commitment to a better future for yourself and half the hemisphere.
Offering Summary
Company | : | ICARUS BLOCKCHAIN GROUP INC. |
Corporate Address | : | Roelstraat 22A, Paramaribo, None (International) 00000 |
Offering Minimum | : | $9,999.96 |
Offering Maximum | : | $1,069,999.06 |
Minimum Investment Amount(per investor) | : | $250.50 |
Terms
Offering Type | : | Equity |
Security Name | : | Series B Common Stock |
Minimum Number of Shares Offered | : | 5,988 |
Maximum Number of Shares Offered | : | 640,718 |
Price per Share | : | $1.67 |
Pre-Money Valuation | : | $12,525,000.00 |
Description of Business
Icarus Blockchain Group Inc. is a Software development company offering FinTech solutions to LatAm and Caribbean markets, using blockchain to develop a FinTech platform for the Caribbean and LatAm regions, providing merchant services and developing Blockchain technology for institutional and corporate clients in the region, and developing a platform for consumers and merchants to buy and sell digital currencies.
The 10% Bonus for StartEngine Shareholders
ICARUS BLOCKCHAIN GROUP INC. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% bonus on this offering within a 24-hour window of their campaign launch date. This means you will receive a bonus for any shares you purchase. For example, if you buy 100 shares of Series B Common Stock at $1.67 / share, you will receive 10 Series B Common Stock bonus shares, meaning you’ll own 110 shares for $167. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
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Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Notice of Material Change in Offering
20 days ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the OuroX offering. Here's an excerpt describing the specifics of the change:
Increased max funding goal, updated financials with an independent CPA review, and extended the end date of the offering.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Central Bank Suriname Recognizes OuroX as one of the FinTech Developments in Suriname
20 days agoWe hope you all are doing great!
Last week during the Digital Impact Conference Suriname 2019, the Central Bank of Suriname, for the very first time, presented their views on FinTech, which was a very positive one. Recognizing the work to be done with regards to building a regulatory framework, the Central Bank mentioned OuroX as one of the FinTech Developments in Suriname 🙌🚀 CEO Maya Parbhoe got to share her vision on Blockchain in an interesting panel discussion. We couldn’t be more grateful and are excited for all that’s coming! Stay tuned!
Notice of Funds Disbursement
about 1 month ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, OuroX has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in OuroX be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Thank you!!
about 1 month agoWelcoming new investors and our sincere gratitude is going out to ALL of our 45 investors!!
It has been a little quiet from our side, but we have been working hard, meetings after meetings, building the business, to offer the best capital financing products on the new digital Suriname Securities Exchange, which is where we are starting our journey of building the Digital Latin American & Caribbean Economy. Meanwhile, our payment processor OuroPay is in development and expected to be released in December of this year.
We're thankful you're joining us on our journey, stay tuned for more coming to you soon!
P.S. Did you know you can already buy, sell and trade on the OuroX Exchange? Sign up now!
CEO Maya Parbhoe explains how OuroX is building the Digital Latin American & Caribbean Economy in an interview...coming out soon! More on: www.ourox.io
OuroX @ Oxford FinTech Lab!
2 months agoWelcome to our new investors! We’re thankful for your support!
AND we're proud to tell you that OuroX's CEO Maya Parbhoe completed the Oxford FinTech Lab this week! The 4-day program, exclusively for a select few Oxford FinTech Alumni, allowed Maya to fine-tune our business model and further build strategy to successfully develop OuroX's future. Having resided among renowned FinTech experts, she got to learn from amazing professors like Marc Ventresca and David Shrier while sharing OuroX's mission.
''I got to attend presentations by industry experts like Shefali Roy, ex-CCO, Apple (Worked with Steve Jobs and Tim Cook! And built Stripe with the team from the ground up!). Not to forget the inspiring Steve Gotz from Silicon Foundry. Simply the privilege to be learning at Oxford Saïd Business School...what an amazing experience! I'm excited to get to implementing everything I've learned.'' says Maya.
We hope you are doing well and will get back to you soon with more developments. In the mean time, if you haven't checked out our brand new website yet, make sure you do now! www.OuroX.io
Notice of Funds Disbursement
2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, OuroX has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in OuroX be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Fintechs Founded by Women Are Better Investments, KPMG Finds
3 months agoInteresting article! We agree with KPMG haha! Did you know OuroX's management is half female? Namely our CEO, CFO and CMO. Invest in us today and help us improve the way people interact financially in LatAm & The Caribbean!
Our new website is LIVE!
3 months agowww.ourox.io. Let us know if you LOVE it as much as we do!
Taking over the Suriname Stock Exchange!
3 months agoIn addition to today's earlier update:
For our Dutch readers, some of the mentions in the Surinamese press this week:
https://gfcnieuws.com/eerste-stap-naar-moderne-en-digitale-effectenbeurs-voor-suriname/
http://unitednews.sr/de-eerste-stap-naar-de-moderne-digitale-effectenbeurs-voor-suriname/
https://www.waterkant.net/suriname/2019/04/29/oprichten-van-moderne-digitale-effectenbeurs-voor-suriname/
If you missed the update, you can read it here in English:
OuroX Signs LOI with the Suriname Stock Exchange and Takes First Steps to Develop an Innovative Securities Exchange for Latin America and the Caribbean.
3 months agoWe can finally share the great news with you, which we have been working on for months!
Paramaribo, May 2nd, 2019 - OuroX and the Suriname Stock Exchange signed a letter of intent last week with the goal of establishing a modern digital National Securities Exchange in Suriname, as required by the Capital Market Act of 2014. This first step paves the way for OuroX to develop and operate the new digital National Securities Exchange. OuroX is an American FinTech start-up, founded by South American entrepreneurs.
The new National Securities Exchange will enable SMEs and large corporations to get access to a wide array of capital market financing options, which have previously been out of reach. Stimulating long-term economic growth not only for Suriname, but for the entire Latin American and Caribbean region as well. OuroX uses blockchain to digitize assets, which increases transparency, efficiency and better supervision in capital markets. All which is necessary to increase the flow of foreign investment into the region.
Companies in a large part of the region are still mainly dependent on lending to facilitate growth. With the exchange, OuroX aims to provide capital market financing options and instruments, not only for small, medium and large companies, but also for banks, investment funds, pension funds and government. The first steps have been taken to obtain the necessary licenses and OuroX is closely working with regulators to create a regulatory framework necessary to facilitate the new technology.
The National Securities Exchange of Suriname is built using state-of-the-art exchange software from OuroX’s American FinTech parent company. The software is developed by AlphaPoint, a market leader in innovative exchange software. Working with Alphapoint was a strategic decision, as it allows OuroX, and thus the digital Suriname Securities Exchange to easily connect to international capital markets. To be able to do so, the exchange will be compliant with the latest standards of international financial regulations.
The goal of OuroX is to improve financial infrastructure in Suriname and the rest of the South American and Caribbean region through the use of modern technology. The FinTech startups’ plan is to start by digitizing the National Securities Exchange, with the primary purpose of developing the Surinamese capital market up to international standards. In addition to this, OuroX’s payment app will complement the exchange by offering fast, safe and low-cost payments and cross-border remittances.
OuroX looks forward to closely working with Surinamese regulators, companies and financial institutions to create the most value for the economy by launching two markets, one for startups and SMEs and one for large corporations. Developing the ecosystem from startup to IPO.
"We will start by digitizing the securities of the twelve companies that are currently listed on the Suriname Stock Exchange. After which we will proceed with the on-boarding of new companies on the exchange. The opportunity is of course much larger than just securities. 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.
OuroX believes that with the obtained support from the current Suriname Stock Exchange, which has been pioneering the industry for over 25 years, it will provide a significant boost to the Surinamese economy.
‘’We are grateful for the solid foundation the Suriname Stock Exchange has laid in terms of structure and compliance, giving Suriname a head start in comparison to other securities exchanges in the rest of the region that have yet to become digital. It is important to understand that the development and implementation of the new digital exchange, with full cooperation and support of regulators, will be possible in just a few months. The exchange will be available to financial institutions, companies and governments in Q3 of this year.“ says Maya Parbhoe, CEO of OuroX.
Education about the opportunities and possibilities of a digital securities exchange for all participants is an important part of the development of OuroX. While the financial instruments that come with a digital exchange are widely used in Europe, Asia and the US, they are still new to Suriname. "The great thing about it, is that we don't have to reinvent the wheel. Using the latest financial technology, we can bridge the gap relatively quickly.”, says Parbhoe.
More information regarding the development of the digital Surinamese Securities Exchange will follow soon!
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