Ouro and Texas One Fund launch financial literacy initiative for University of Texas athletes
Ouro, a fintech company founded by Roy and Bertrand Sosa, alumni of the University of Texas (UT), announced today a partnership with Texas One Fund, the Official NIL Collective for UT Athletics. This multi-year agreement will offer financial literacy training and monetary benefits to all eligible student-athletes across UT's 21 men’s and women’s sports teams.
The partnership allows student-athletes to engage with Ouro’s X World Wallet, a digital multi-currency wallet and payments app through which they can earn compensation. The initiative aims to provide student-athletes with financial management skills and tools.
Chris Del Conte, Vice President and Athletics Director at The University of Texas at Austin, expressed his views on the partnership’s impact: “This is an incredible opportunity for all of our student-athletes. Like all young people, they need to build financial skills and judgment, and their unique circumstances make the need especially critical. With Ouro’s willingness to collaborate with Texas One Fund on an initiative that gives every student on every team a financial opportunity now and skills for the future is tremendous.”
Under the programme, student-athletes must promote X World Wallet and participate in monthly financial training sessions. They will also share their experiences with the program through social media and various marketing activities.
Roy Sosa, Ouro Co-founder and CEO, detailed the practical aspects of the initiative: “Student-athletes know better than anyone that the small stuff, the everyday choices are what lead to big wins. That’s the focus we’re bringing to their financial futures with the X World Wallet NIL programme: here’s a tool and income you can use today along with the coaching and skills you need to make sure it pays off in the future, too.”
The programme's initial phase will begin this spring, with a broader rollout planned for the fall as different sports teams start their new seasons.
Patrick “Wheels” Smith, President of Texas One Fund, discussed the alignment of the initiative with the organisation's goals: "We believe this partnership with Ouro will be transformative for our student-athletes. It aligns perfectly with our mission to prepare students for success with integrity in all aspects of their lives – by equipping students with practical money skills and a cutting-edge financial tool, Ouro is investing in their long-term success on and off the field."
X World Wallet functionalities include the ability for users to load their accounts from bank accounts, debit cards, or credit cards, make purchases anywhere Visa debit cards are accepted, transfer funds instantly to other users, earn points on purchases that convert to cash, and exchange currencies in real-time.
Concluding the announcement, Bertrand Sosa, Ouro Co-founder, President, and Chief Brand Officer, highlighted the broader implications of the partnership: “Our collaboration with Texas One Fund is an immense source of pride and inspiration because we know first-hand the power of ‘what starts here changes the world.”
