Daily Archives: April 11, 2012

Bolivia first South American country to have electronic currency exchange market

Pagina Siete gives us great news:

Until June [2012], Bolivia will become the first country in South America to have an electronic exchange to negotiate the exchange of foreign currency, which will improve the price of the exchange rate for the buyers and bidders.

The initiative is developed by Daza Software, a company founded by Bolivian professionals, in partnership with an American company and a national bank, which will perform the physical transaction of buying and selling.

The Daza Software Manager, Jaime Daza, explained that the new product is a software for the exchange of currencies in electronic form and via the Internet.

Now to buy or sell dollars, any person or company has three options; go to a Bank, where you are offered a specific exchange rate; go to a exchange house; or a ‘librecambista’ [person in the street who trades with currency exchange].

However, the product which is launching to the market seeks to democratize this Exchange via a tool called Hand Shake, whereby, for example, a person who wishes to sell 10,000 dollars will be recorded to a web page. [where] Interested parties may contact the seller electronically.

After contact, seller and buyer shall set a price by the exchange rate that will make the transaction.

Daza said that the approach which will take place through this tool, the bidder will have to pay a fee, but ensures that the price obtained by the sale of its currency will be much greater, [as compared to] which can be found today in the traditional market.

“It’s a totally innovative product.” In South America and even in Mexico there is no similar software, Hand Shake will be the electronic tool that will put even closer those interested in doing a transaction of currencies. For example, if a person wants to sell dollars, and there is someone interested in buying in Cochabamba, they contact, set a price and make the transaction. “It’s like the e-shop of E Bay,” said Daza.

However, the transaction may not only be performed at national level but with the world.

Daza Software has a 50% interest in this venture, another percentage have a United States company and the national bank.

Daza Software is a manufacturer of software with 18 years of experience in the country and has specialized in technological products developed primarily for the stock market, according to its manager.

“Daza Software is a software factory with 18 years in the market.” “We specialize in financial software and the only one that produces for the Bolivian stock market”, he said.

http://www.paginasiete.bo/2012-04-09/Economia/Destacados/08eco-001-0409.aspx

Kudos for Daza Software and the Bolivian bank, you guys made it to The Hall of Bolivian Fame