OVEX first SA crypto OTC exchange to be audited by Mazars

OVEX, which boasts South Africa’s largest cryptocurrency over-the-counter (OTC) desk, now has a fully audited balance sheet.

The audit was done by leading international audit, tax and advisory firm Mazars and means you can rest assured that your cryptocurrency investments are safe and sound.

OVEX is beyond proud to announce that it has attained this level of transparency and trust. “We are the first South African crypto OTC exchange to be successfully audited by Mazars,” said OVEX CEO Jonathan Ovadia.

It is only through implementing the highest financial standards that we have been able to regularly achieve weekly gains of over 4% for our clients in our arbitrage accounts, and up to 20% annualised interest in our unique cryptocurrency interest accounts. We also run a referral programme where we give away as much as R5 000 per referral. We can do this because we have taken the time and effort to develop systems that are virtually guaranteed to make our clients money.

OVEX is a high-volume OTC cryptocurrency exchange. When dealing with such enormous liquidity, it is imperative that our clients’ money is safe and that our internal financial procedures meet the highest standards.

The Mazars audit is an affirmation of what OVEX has worked so hard for so many years to achieve. And OVEX is extremely pleased that we can now put that official stamp of approval on our service.

What does it signify?

An independent Mazars audit ensures transparency for stakeholders. It strengthens relationships and puts the groundwork in place for long-term, sustainable relationships.

OVEX already has several strong stakeholder relationships in place, such as with Alameda, which recently invested US$4-million in OVEX. And our partnership with San Francisco-based trueUSD, a stablecoin with a market cap of over $1.2-billion, is one of the major reasons OVEX can offer such competitive ROI on many of our services.

The Mazars audit means we can approach further partnerships with the confidence that our new partners will know that we take what we do seriously.  — Jonathan Ovadia

Mazars, which was founded in 1945 by Robert Mazars, is headquartered in France and now comprises of over 42 000 professionals in 90 countries. It was a small local accounting firm until the 1980s when it started expanding fast to reach the international scale it has reached now.

The mid-sized firm has audited such entities as Goldman Sachs, the world’s largest investment bank, and former US President Donald Trump. Some of its other clients include Nestlé, Standard Bank, the European Union and the World Bank.

Now OVEX is also on that list.

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