Mexican investment platform Flink to launch in Colombia After getting Fintech Ualet. The initiative’s CEO, Sergio Jiménez, said today that the Colombian Financial Inspectorate (SFC) is in the process of approval to go live in June, enabling Colombians to invest in the New York Stock Exchange with prices starting at $1 and $1. commission costs.
Why is reaching Colombia getting so much attention?
The market itself says so. When we launched the product in Mexico, we started getting a lot of messages from other countries asking when we would launch our product in their own countries; and interestingly, Colombia was the most in demand. More than 60,000 Colombians have requested our product.
Why did you decide on Ualet?
Such products need to have certain licenses and regulations, the right way was to seek licenses. When we talked to the Ualet team, we realized that they have experience in regulatory matters and know about the Colombian market. There was also the idea of giving millions of people access to unfamiliar investment products; and we found that they are hardworking people who really want to add value, so we clicked right away.
How is the purchasing process going? What is missing for them to land in the country?
It’s a fairly extensive filing process with not much left in reality. We hope to complete this entire process of control change in the coming weeks, in communication with the regulator.
When do you intend to start operations?
We expect to start in June at the end of the second quarter of this year which will be summer. We are very focused on this, working on what is necessary. And then the integration of all our products will come.
What kind of products and services will they come with?
First of all, with the product that gives us results in Mexico that allows Colombians to invest in the New York Stock Exchange from $1 with no commissions. We are working on other products, one is a more passive investment to complete the trade theme.
Will users also be able to invest in the Colombian Stock Exchange?
The idea is to offer both international and national options, an issue that also concerns the regulator, that money helps and contributes to national organizations.
Have you considered including the option to invest in cryptocurrencies?
Yes, we are working on it very actively, but it is an issue that needs to be discussed with the regulator, it needs to be sensitized. No country in Latin America has a frame of reference for how you can present this.
How many users do you expect to reach in Colombia this year?
We have our own internal goals and in Mexico we far exceeded them, we wanted to reach 200,000 and we reached 1.6 million customers. We have 60,000 interested people in Colombia who have not received any publicity, so our goal is to reach one million Colombians investing in the platform this year.
Source: Lare Publica