Mexico will open the first IEO (Initial Exchange Offering) in Latin American territory.
Blockchain service company Uulala, in partnership with Kapytal Exchange, announced an alliance to launch the first IEO (Initial Exchange Offering) for operational tokens in Latin American territory.
Originally, most of the projects in the crypto space interested in raising capital carry out a pre-sale campaign for their tokens known as ICO, in which they offer potential investors the possibility of acquiring digital assets at a lower price until the official launch. However, this mode of operations raises several irregularities from the legal, as well as certain challenges in terms of security and visibility.
Therefore, IEOs address these difficulties and pose a much more direct way for interested investors to learn about new projects and invest safely, without the risks associated with secrecy and the lack of guarantees, since generally projects and List tokens go through a thorough evaluation. Companies such as Binance, Bitmax, and Bittrex already have their own IEO platforms, however, none of them has its proper headquarters in Latin America, so that the interested parties would have to operate in harmony with legal frameworks that do not conform to those that would apply for the region.
First IEO based in Mexico
According to a press release published by the companies, they chose Mexico as the headquarters for the IEO because it is the country with the largest Fintech economy in the region. Uulala originally has a certain trajectory within the country, since it established strategic alliances and starting this month will begin to operate with the system of electronic inter-bank payments SPEI of the Central Bank of Mexico.
The communiqué also reports that Uulala has the support of organizations such as Humanity 2.0, Laudato Si, the International Catholic Migration Commission and Jesuit Refugee Services, with which it works together to guarantee the security of financial operations carried out with digital currencies within the region, adjusting to the legal frameworks and the applicable considerations for this business ecosystem.
In this regard, the CEO of Uulala, Oscar García, commented:
Uulala’s vision is to positively impact the lives of millions of low-income, unbanked, migrant and refugee people around the world through the implementation of financial technology that has been designed to empower, elevate and sustain the financial future of its users. Our heart and soul is Latin America, and this alliance with the Kapytal Exchange, one of the fastest growing digital asset exchanges in the region, is a key step towards meeting our social impact objectives.
Those interested in operating through Uulala’s IEO will have to do it by purchasing the token that the company sponsors, which is called EUULA.
The official launch of the platform is scheduled for June 10, but those interested can register on the platform and participate in the pre-launch promotions by logging on to the io website, https://ieo.uulala.io
With information of the official communiqué of Uulala.