On September 26th, IOHK (aka IOG), the blockchain technology firm founded by Charles Hoskinson that develops the Cardano Protocol, announced a partnership 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 tho
Oasis Pro Markets issued a press release on January 20 announcing that it had received approval from FINRA and the Securities and Exchange Commission (SEC) for its Digital Security Alternative Trading System (“ATS”).
Oasis stated in this press release that its ATS is authorized to allow subscribers to:
“On the ATS, you can trade both registered and unregistered securities.” “Trade OTC digital securities” “Use a blockchain to trade both equity and debt in digital form.” “Invest in initial public offerings (IPOs) that can be tracked on a blockchain.”
The goal of IOHK’s collaboration with Oasis Pro, according to a blog post published yesterday (September 26), is to “develop an alternative trading system that will use blockchain technology to open up participation in primary bond markets to developing countries.”
It goes on to say that Oasis’ ATS, known as OATSPRO in the United States, “allows secondary trading of public and private multi-asset digital securities.”
The following is what IOHK had to say about OATSPRO technology and its upcoming integration with Cardano:
“The Oasis Pro technology enables digital cash for digital securities transactions, and the use of the Cardano blockchain to eliminate the need for intermediaries like banks from the process will cut trading fees in half. The combined platform offers developing-country governments a viable and secure financing option.
“With recent cuts in foreign aid and investment, many governments are finding it difficult to access capital. The integration of OATSPRO technology with users of Cardano’s ada cryptocurrency, which has a market capitalization of $70 billion, will open up a new source of foreign investment for critical infrastructure projects.
IOG’s Director of African Operations, John O’Connor, stated:
“Our mission at IO Global is to build systems that broaden and democratize access to critical financial and social services for both governments and citizens. This was the impetus behind our collaboration with the Ethiopian Ministry of Education this year to provide students and teachers across the country with verifiable educational credentials, and it is the same for our work with Oasis.
“Systems like the one Oasis is developing are critical for bridging the growing global investment gap and providing developing nations with the tools they need to level the playing field and invest in critical infrastructure.”
In addition, Pat LaVecchia, CEO of Oasis, stated:
“Developing countries frequently lack access to foreign capital that other countries have. We want to make certain that this changes. The vision of IO Global to democratize opportunity is closely aligned with our desire to ensure access to financial markets for developing nations, and this partnership represents an important step toward enabling greater access to international capital markets for those who require it.“