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Sunday, September 15th, 2019

Business TrakInvest mulls starting operation in Oman

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by January 20, 2018 General

Muscat: TrakInvest management team was recently in Muscat to meet investors, strategic partners, and regulators and evaluating the prospects of setting up operations in Oman.

TrakInvest is the world’s first virtual social trading platform that crowd sources fundamental and social trading data to generate profitable trading signals and ideas. With a growing community of more than 100,000 users, the platform is available on web, mobile and Facebook Messenger providing users the ability to build virtual trading portfolios, share and learn on a peer-to-peer basis and gain certifications and employment opportunities in the financial services sector.

Bobby Bhatia, the Founder and Chief Executive Officer of TrakInvest said that the company remains committed to both teaching investing as a life skill and providing artificial intelligence (AI)-powered tools and analytics for the millennial investors to be able to make more informed decisions. “TrakInvest through its blockchain initiatives has created a collaborative, reward based peer to peer economy where its users earn for generating and sharing their real time trading ideas and track records,” added Bhatia.

The financial industry has continued to suffer from the loss of customer trust and low levels of retail participation. This has led to the rise of a number of innovative platforms that empower individuals through automated systems and social networks that are disrupting the traditional retail brokerage and investment management models.

One such company, TrakInvest, has been changing the financial services landscape across Asia since the past three years. Headquarted in Singapore, with operations in India, Thailand and Hong Kong, TrakInvest, at its core, is about crowdsourcing of financial wisdom and rewarding its participants in a decentralised economy based on performance and insights.

The rising demand from the TrakInvest community has prompted the firm to make the next move to the blockchain ecosystem and launch its own cryptocurrency. This currency known as the “Trak Token” will be based on the Ethereum platform. The token launch will introduce a reward economy where the producers of trading data, insights and sentiments will be globally rewarded in a transparent and frictionless manner. Furthermore, individuals trading performance and certifications will now be held on the public blockchain thus making the process of qualification seamless. Backed by a powerful tech stack and the strength of Ethereum’s Open community network, the ecosystem has a strong technical foot holding.

The platform which currently provides virtual equity trading will also be introducing a virtual trading platform for cryptocurrencies and the next generation of “crowdsourced” sentiment tools for equities and cryptocurrencies. These proprietary tools will be developed using the social trading data and behaviour collected for the last three years. TrakInvest aims to empower the retail investor with all these tools to create a level playing field removing the information asymmetry that has plagued them for so many years. TrakInvest will also be launching its physical academies to not only promote investing as a life skill but also to expose, train, and re-skill investment and technical talent on blockchain and cryptocurrencies.

To fuel the geographical and product extension, Trakinvest is raising $30 million through its Initial Coin Offering (ICO). TrakInvest is backed by a highly experienced management team and an advisory board. The senior management of the team has held leadership positions in leading firms including J. P. Morgan Partners, AIG, State Bank of India and ICICI Securities.

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