What is the name of your organization?
Beta Trianguli Australis SAS
What is the name of your solution?
A new FX market and Prosperity
Provide a one-line summary or tagline for your solution.
Open Peer-to-peer foreign exchange market for Economic Prosperity of unbanked and underserved populations in the world
In what city, town, or region is your solution team headquartered?
Bogotá, Bogota, Colombia
In what country is your solution team headquartered?
COL
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
Underbanked and underserved individuals in the foreign exchange market often face poor exchange rates, high transaction costs, and fraud. This makes them particularly vulnerable to currency volatility, devaluation, and inflation in emerging and developing economies, leading to losses of up to 15% and a decline in purchasing power.
Traditional financial institutions prioritize more profitable clients, leaving these populations without effective solutions. By promoting access to an open, trusted, and equitable foreign exchange market, we enhance financial inclusion, foster private-sector collaboration, and strengthen public-private cooperation.
According to the World Bank The Little Data Book of Financial Inclusion (2022), 76.2% of adults globally have access to a financial account, yet 1.4 billion people remain excluded from formal financial markets, and only 2.7 billion use accounts for cash management. Also, ACCION stated that 400 million people are underserved using the same data. This highlights a significant gap in financial services that limits economic resilience and growth.
Addressing this issue not only improves efficiency in currency exchange but also contributes to poverty reduction, economic growth, and global prosperity.
What is your solution?
Trust is always built between peers. As a first output, we propose a peer-to-peer open foreign exchange market where buyers and sellers of U.S. dollars connect in a digital marketplace to set their own exchange rates—without intermediaries. This eliminates the traditional spread model, where financial players buy low and sell high for profit. Betriax is a human-centered platform, designed to be fair, transparent, and free from bias or distortions.
A second output is the creation of a Financial Education module, designed to help Betriax users become sustainable clients over time.
With Betriax, people gain access to the foreign exchange market with no entry costs or hidden fees. Instead of being passive exchange rate-takers, they actively shape the market. We champion transparency as the foundation of a sustainable foreign exchange system.
In terms of outcomes, the efficiency gains are remarkable: Betriax prevents 99.8%-99.9% of market losses, ensuring that all stakeholders enhance their ability to compete in this new model. Another key outcome is the positive impact on people’s lives, including aggregated savings.
Finally, in the long run, Betriax contributes to the creation of a new, global foreign exchange market—one that is more inclusive, efficient, and fair.
Who does your solution serve, and in what ways will the solution impact their lives?
We serve underbanked and underserved populations, particularly in emerging and developing countries. To facilitate transactions and currency exchanges, we partner with local players, such as exchange houses regulated by financial and fiscal authorities.
Consider a population of 1 million people in Colombia, each exchanging an average of USD 1,000 per year for essential needs like food, healthcare, housing, transport, and education—as well as to preserve the value of their income amid inflation and currency volatility.
According to Google Finance, the exchange rate is COP 4,136 per USD 1. Traditional financial players often impose a 3% loss due to unfavorable exchange rates, meaning each individual receives COP 4,011,920 instead of COP 4,136,000—a loss of COP 124,080 per person.
For 1 million people, this results in an aggregate loss of COP 124 billion (USD 30 million approx.) annually. Betriax can eliminate up to 99.8% of these losses, putting more money directly into people's hands and strengthening their financial resilience.
