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Governor Lamont Announces Oasis Pro Markets Plans Expansion in Connecticut [[link removed]]
Posted on July 7, 2022
(HARTFORD, CT) – Governor Ned Lamont today announced that Oasis Pro Markets, a fast-growing fintech firm, is planning an expansion project in Connecticut that will include the creation of 91 new jobs in the state over the next four years. The company, located in Darien, has hired six people in the past two months, bringing its overall employment to 15 workers.
“Connecticut has an educated and diverse talent pool that employers are leveraging to grow our economy,” Governor Lamont said. “Fintech will be a driver of the economy of the future, and I want Connecticut to be at the forefront of this burgeoning industry. Having Oasis Pro Markets anchored in Connecticut will continue to foster further investment and job creation in the state in this critical sector.”
Oasis Pro Markets LLC, a subsidiary of Oasis Pro Inc., is bridging the world of traditional finance, blockchain, and decentralized finance. It operates an alternative trading system (“OATSPRO”) to allow subscribers to trade digital (“blockchain”) securities and make payment for those digital securities in digital cash (i.e. stable coins) or fiat. OATSPRO is at the forefront of digital securities innovation by leveraging blockchain and smart contract technology to create real-time settlement, while eliminating counterparty risk. Oasis Pro Markets’ proprietary technology provides a sleek, user-friendly experience for issuers and investors and OATSPRO offers efficient KYC/AML onboarding of digital securities for issuers, streamlined onboarding for investors, and provides a liquidity platform for private and public OTC market digital securities. Oasis Pro Markets is a full-service broker-dealer and investment bank, regulated by FINRA and the SEC.
“Connecticut is attractive company location with its top-quality educated workforce, universities, quality of life and a focus on building strong infrastructure for growth – especially in the fintech area,” Pat LaVecchia, CEO and founder of Oasis Pro Markets, said. “As a longtime resident, it is exciting to see Connecticut supporting our company’s growth and its commitment to providing a strong foundation for growing companies like ours. Governor Lamont has been incredibly supportive of building the local fintech economy and we are proud to be a part of it. We look forward to expanding our operations in Connecticut.”
The Connecticut Department of Economic and Community Development (DECD) is supporting the project by providing a grant in arrears up to $1,067,602, contingent on the company creating and retaining 91 new full-time jobs. The state’s economic development program to support and encourage growth, JobsCT, is available to eligible businesses in targeted industries that create more than 25 jobs. The grant amount is determined by several factors, including payroll taxes paid, job creation totals and timelines, average wages, and company location.
“Connecticut is capitalizing on its long-standing strength in financial services and its strategic location to offer competitive advantages for growing firms like Oasis Pro Markets, most notably an abundance of talent and a vibrant, rapidly growing fintech ecosystem,” DECD Commissioner David Lehman and Peter Denious, CEO of the nonprofit economic development organization AdvanceCT, said.
In May, Oasis Pro Markets announced it had completed a $27 million Series A financing round.
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