Micro Connect Launches First DRO Exchange in Macao

Micro Connect launched the Micro Connect Macao Financial Assets Exchange (MCEX) in Macao with the support of the Monetary Authority of Macao, aiming to diversify Macao's economy while create a new financial marketplace connecting global capital with China's micro and small start-ups.

MCEX is the world's first licensed exchange for Daily Revenue Obligations (DROs), a revenue sharing product. DRO is a kind of certificate that can be traded by institutional investors, which provide funding for small businesses in China in exchange for part of their daily revenue.

Charles Li, Co-Founder and Chairman of Micro Connect, said: "This is the world's first financial market dedicated to the micro economy of China through an innovative new asset class, the DRO. By leveraging China's leading digital economy, it will reshape the global financial landscape. New endeavors require new environments, and we look forward to Micro Connect's contribution to connecting China's micro and small businesses with global capital."

Gary Zhang, co-founder of Micro Connect, noted: "The establishment of MCEX means that financing via financial exchanges is no longer exclusive to a small number of large corporates, but now a convenient choice for millions of micro and small businesses. As an important channel for these entities, Macao will rise to become a new international financial center in the digital age."

Through the new financial market platform, MCEX, Micro Connect hopes to provide China's micro and small businesses with adequate and sustainable financing while allowing global investors to enjoy quality returns by tapping into their daily and transparent cash flows.

Chan Sau San, Chairman of the Board of the Macau Monetary Authority, commented: "The Macau Monetary Authority is actively deploying the development of the modern financial industry, taking advantage of Macao's highly open financial system, and introducing different types of financial institutions to settle in Macao. It is hoped that after the trial operation of MCEX, the business model will be gradually straightened out and a solid risk prevention mechanism will be established."