Honduran Mercario partners up with American Mimetic Markets to launch the first Bitcoin exchange in Honduras.
Hosted by Mimetic Markets, freshly announced trading platform Mercario will allow users to trade Honduran lempiras, Brazilian reals and bitcoins on a robust and scalable system. In a company's announcement, Mimetic Markets CEO Sameer Parekh Brenn stated:
"We're excited to be working with the team from Mercario. When we first met them, we were impressed with their interest in financial innovation, and as the relationship matured, we learned of their strong commitment to providing their local communities with all the benefits that crypto-currency technologies have to offer."
While Mercario currently supports real, lempira and bitcoin, the company said it is looking to extend its offerings and provide a wider range of financial services for more currencies and financial products, including predictions, futures and other derivatives.
According to Mercario co-founders Guillermo Peña Panting and Rodrigo Marques dos Santos, Honduras and Brazil are ripe markets for cryptocurrency technologies. Peña Panting stated:
"With the access to mature markets through the many free trade agreements, developing economies need to adopt new technologies to create the wealth their residents need, and we believe the blockchain is a great and low cost tool to enable people to learn from international best practices and expand their business horizons."
As of Marques, the entrepreneur firmly believes the platform will allow the two said countries to "lead the region's financial markets," as well as help "developing infrastructure to support their local commodity and energy industries."
After registration, users are asked to provide the necessary KYC/AML compliance requirements before being able to trade. Mercario also offers a robust API designed by the Wall Street veterans from Mimetic Markets.
Mimetic Markets is a Boulder-based financial software company specializing in cryptocurrencies. Its CEO, Sameer Parekh Brenn is an investor and serial entrepreneur with a strong background in software engineering leadership, product management and open source development. Parekh Breen also served as a quantitative analyst at Goldman Sachs from 2010 to 2012.
Launched in late October, Mimetic Markets' Bitcoin exchange service allows operators to create a scalable exchange, serving cash, futures and prediction markets.
Mercario is a Honduras-based electronic marketplace for financial instruments aiming to advance the maturing process of the Central American economies. Its team combines finance, public policy and political economy experts who are dedicated to attract investment and improve the business climate in Honduras.
The said partnership was announced in early November in addition to the creation of the Eléutera Foundation, an organization aiming to make Bitcoin available to local Hondurans. Along with being one of Mercario's co-founders, Guillermo Peña Panting also serves as the Eléutera Foundation's executive director.
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