September 26th was the second day of the Cardano Summit 2021. In one of the segments, the Cardano-Oasis Pro Markets partnership was announced. In this article, you will discover all about this vital alliance.
The second day of the Cardano 2021 virtual conference took place with many related segments. Therefore, it has been published important announcements for the Cardano ecosystem. One of them was the Cardano-Oasis Pro Markets partnership that will revolutionize the way people manage their money.
Source: Cardano Summit
What Is This Partnership Solving?
This segment began by explaining the problem that people worldwide have when sending money to their relatives abroad. It was a summary diagnosis of how inefficient and dangerous it is to send money to another country nowadays.
Then, the speaker explained two main limitations that the system has at present:
1. The banks have a monopoly on this market.
2. The current system does not reach all those who need the service.
So the question was raised: “How can Cardano help people around the world to manage their money efficiently?
To answer that question, the speaker said: “We believe that the best way to solve this is to work with the capital market and blockchain technology, along with financial regulators.” Then, the speaker introduced Pat LaVecchia, CEO of Oasis Pro Markets, to explain the partnership.
What It’s the Cardano-Oasis Pro Markets Partnership About?
Oasis Pro Markets is the first US-regulated alternative trading system (ATS) to trade digital blockchain assets. They also accept payment in digital currency (i.e., stablecoins) or fiat.
The company aims to bridge traditional finance and decentralized finance worlds and be a leader in digital securities innovation by utilizing blockchain and smart contract technology to accelerate asset transfer and settlement.
LaVecchia mentioned that Oasis Pro Markets want a long-term relationship with AOHK and Cardano. This will give financial-regulated services to democratize and make financial services inclusive for people around the world.
Therefore, Oasis Pro Markets aspires to make stablecoins or specific tokens the currency that rules this partnership.
On the other hand, the company mentioned developing a digital exchange system that will be the heart of this alliance with Cardano. That platform will have the following benefits:
- Near-cero time to make transactions.
- No paperwork for the KYC process.
- Very low-cost operations fees.
- Improves efficiency in operations.
- Almost immediate settle time.
To achieve this, they have made a strategic alliance with Anchorage Digital to develop Digital Assets on its alternative trading system. Also, this platform is supported by AOHK.
Finally, the CEO of Oasis Pro Markets explained that users would have to pass through a KYC process to use the digital exchange system. This exchange platform will have most of the most used stablecoins in the market.
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