Wuzu, who helped BTG make a tokenization offer, is seeking funding to expand activities
Brazilian company specialized in creating exchanges announces funding of R$ 1.7 millionNOTÍCIAS
Wuzu, a specialist in the creation of Bitcoin and cryptomoedas exchanges, is carrying out a round of 1.7 million reais, of which 1 million reais will be offered through crowdfunding.
The rest will be supplemented, according to the company, by institutional investors.
The focus of the funding is to strengthen Startup’s sales area and expand the markets served.
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In its seed round, Wuzu has already received investment from Duxx, Superjobs, Bossanova and angel investors for a total of R$3.5 million.
„The goal of this round is to expand our presence in the market, reaching other fronts, such as government bonds and energy, offering our electronic over-the-counter asset solution to markets still in need in this regard,“ explains Anderson Nery, CEO of Wuzu.
Wuzu enables electronic trading to any standardisable Bitcoin Investor asset, with exchange infrastructure, in which it is possible to create a new complete platform in up to 2 hours.
The Wuzu system is connected to various blockchains, allowing trading of cryptomaps and tokenized assets.
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Currently, in Brazil, much of the over-the-counter trading still takes place over the phone.
Many assets still have latent demand for electronic platforms, being a market with great potential for the expansion of digital solutions. Wuzu’s differential in relation to other companies, such as B3, is to offer the trading solution within its infrastructure as a service.
The focus is to deliver the platform to be operated directly by the institutions, in a manner accessible in relation to time and cost, mainly.
The aim of the startup is to replicate the transformation Nasdaq undertook in the US market between 1970 and 1990, starting as a piece of the illiquid asset trading (OTC) infrastructure and then evolving into a regulated exchange.
Even today, Nasdaq has more than 20% of its revenues from the Exchange SaaS solution, and this is Wuzu’s main product, which is already in use by BTG Pactual since February this year.
Wuzu has assisted BTG in the primary offering and the ReitBZ electronic counter, providing the infrastructure layer that allows for asset trading and registration.
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The funds raised will be used for expansion, especially in the secondary market geared to startup quotas, once regulated by the CVM (Securities and Exchange Commission) sector authorities.
This is the creation of an embryo of a startups-oriented stock exchange, and Wuzu already has the necessary technology.