OuroX
FinTech for Latin America & Caribbean
Regulation Crowdfunding
Paramaribo, None (International)
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.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$75,524.00
USD
$0.00
USD
Cash And Cash Equivalents
$75,524.00
USD
$0.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$78,027.00
USD
$0.00
USD
Long Term Debt
$0.00
USD
$0.00
USD
Revenues And Sales
$0.00
USD
$0.00
USD
Costs Of Goods Sold
$0.00
USD
$0.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$302,503.00
USD
$0.00
USD
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
11 months 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:
Extended length of campaign.
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.
Notice of Material Change in Offering
12 months 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:
Extended length of campaign.
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.
Notice of Material Change in Offering
about 1 year 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:
Extended length of campaign.
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.
Oxford Interview Maya Parbhoe, CEO OuroX
about 1 year agoWelcoming all new investors! We hope everyone is doing great and wanted to share this cool short video with you: As an Oxford FinTech Program Alumni, Maya Parbhoe, CEO of OuroX, the FinTech startup focused on building the digital Latin American & The Caribbean Economy, was asked to share her thoughts
CEO Maya Parbhoe quoted in the IMF Global Markets Report Suriname October 2019
about 1 year agoOuroX CEO Maya Parbhoe quoted about the Digital Capital Market in Suriname in the Global Markets Report about Suriname (October 2019), alongside the Minister of Finance and the Governor of the Central Bank of Suriname! Read the full report here: https://we.tl/t-L9vRKWRO3A (download within 7 days)
Notice of Material Change in Offering
about 1 year 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:
Extended length of campaign.
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.
CEO Maya Parbhoe Speaking at the SCAI 2nd Annual Conference
about 1 year agoCEO Maya Parbhoe speaking on “Blockchain Technology and its potential impact on the Audit and Assurance Profession” at the 2nd Annual Conference of the Suriname Institute of Chartered Accountants (SCAI).
Notice of Material Change in Offering
over 1 year 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:
Extended length of campaign.
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.
Notice of Material Change in Offering
over 1 year 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
over 1 year 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!
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