According to a recent study published by M. Szmigiera in Statista, the US accounts for 54% of the world’s stocks, with around 80% of them being concentrated in 10 countries. Although today almost any financial service is offered through online apps, they’re all offered in a fragmented fashion, with users having to pay fees and make different exchanges to move their money around these platforms. Despite technological advancements, there are still many barriers that hinder accessibility. To access any broker app, users may need to go through various processes to convert their currency to the one utilized in a specific app, then through other processes to withdraw their money, which in many cases take days or even weeks. Likewise, there are separated fees for apps, banks and remittance services which most users must go through if they want to trade or fund a business project. That is not to mention the hinderances when it comes to accessing services of global credits or loans in non-local currencies. In sum, there is a lot that could be worked on in the field of accessibility to financial markets.
There is a company that is aimed at solving most if not all these issues by offering a plethora of interconnected financial services. Konzortia Capital is the holding of a fintech consortium composed of Novabank, InveStart and Capitalista. Novabank will offer free online banking with any currency for businesses and individuals, with the capacity to make secure feeless global transfers and online purchases. InveStart is a platform for fundraising which will allow businesses to raise capital from anywhere in the world, regardless of jurisdiction or size. Finally, Capitalista will connect the world’s stock markets into a single app and index, for users to freely trade stocks and access extensive wealth management services. All the services offered by Konzortia Capital will be seamlessly interconnected through distributed ledger technologies, and the platform will offer its own new type of digital currency. With all of this, users will be able to access the financial markets without unnecessary hinderances and costs. Enabling the participation of any actors within the financial industry, Konzortia promises to change the financial world as we know it.
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Sunday, December 22, 2024