Also, Brokeree adds new languages to the Social Trading app; Cboe fines Goldman Sachs.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Bankrupt
Bittrex Reaches $24M Settlement with SEC
Bittrex,
the crypto exchange sued by the US Securities and Exchange Commission (SEC) in
April over alleged illegal operations, has secured the securities regulator’s agreement
to settle the case by paying $24 million. Previously, the exchange agreed to the penalty amount to resolve allegations that it
offered unregistered securities to investors in the United States.
Announcing
the agreement today (Wednesday) in a statement, Bittrex emphasized that the amount will be paid by its affiliate in the US, and not Bittrex Global.
The exchange neither admits nor denies the
allegations raised by the securities watchdog.
Abu Dhabi Grants License for M2 to Offer Crypto Services
The Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has granted M2, a virtual asset company, permission to operate a multilateral trading facility for crypto services in the UAE. Developed with a
focus on enhancing trust and security, M2 aims to establish integrity within
the cryptocurrency sector.
According to a statement
shared by Abu Dhabi Global Market on X social media, the platform, set
to launch later in 2023, will enable both institutional and retail clients to
engage in buying, selling, and storing virtual assets like Bitcoin.
The stock exchange of Hong Kong (HKEX) has released its
interim results for 2023, disclosing remarkable growth in revenue and profit.
HKEX’s revenue and other income for this period reached HKD $10 billion,
showcasing an increase of 18% from the previous year.
The exchange’s revenue
from core business increased 5% year-over-year to HKD $9.7 billion compared to
the first half of 2023. Despite a rise of 7% in operating expenses reportedly due
to increased staff costs and professional fees, the company’s EBITDA margin
reached 75%, representing an upswing of 3 percent points in price from the same
period in 2022.
UK FinTech Growth
Partners Eyes Startups with New Investment Fund
The UK FinTech Growth Partners has unveiled an investments
initiative targeting growth-stage FinTech companies, primarily focusing on
those between Series B and pre-IPO stages; the company said in a statement
today (Wednesday).
The fund’s inaugural
capital deployment is scheduled for the fourth quarter, and it plans to invest
between £10 million and £100 million per endeavor. Operating with the intention
of making a minority equity investment, the FinTech Growth Fund will not only inject capital but
reportedly offers guidance to its portfolio companies.
Nomura Partners with
Angeleno Group: Pioneering Clean Energy Investment
The Tokyo-based Nomura
Holdings and the Los Angeles-based Angeleno Group have entered into a
partnership aimed at promoting investments in clean energy and climate
solutions. The collaboration aims to accelerate the global transition to
renewable energy sources.
Additionally, the deal
involves Nomura’s investment in Angeleno Group’s recent fund,
focused on nurturing clean energy and climate solutions startups in North
America.
The
partnership will lead to a new content initiative named 'BTC etc.' which will
feature a weekly crypto market overview, as well as a monthly podcast. This
podcast will be integrated into eToro's 'Digest & Invest' series and will
host experts from both firms, discussing the latest in the crypto world.
"We
are thrilled to be partnering with Reflexivity Research to bring our users even
more valuable insights about the world of crypto," Mati Alon, the Editor
in Chief at eToro, commented. "As a crypto pioneer, we see it as our
responsibility to provide accessible, timely and relevant content for our users."
Brokeree's Social Trading
Adds New Languages
Brokeree
Solutions, in its recent update, has expanded the linguistic range supported by
its Social Trading platform. This move aims to cater to a broader audience,
enabling them to leverage the platform's innovative features.
Social
Trading, a copy trading platform, empowers brokers to launch trading signal
sharing throughout their trading ecosystem. Reacting to the needs of brokers in
the Southeast Asian region, the platform now supports Malay and Indonesian
languages. The platform now boasts accessibility in over 14 languages,
including Chinese, Korean, Thai, and Hindi.
Julia
Ilychova, the Operations Director at Brokeree Solution, discussed the firm's
expansion strategies, emphasizing the team's growth and the concerted efforts
towards establishing a more substantial foothold in regions like APAC, Middle
East, Africa, the Americas, EU, and the UK. The recent opening of an office in
Cyprus testifies to this commitment.
Warning against Fortexs.com
by BaFin
BaFin, the
German financial regulator, has issued a warning against the financial
offerings presented by Fortexs on its website, fortexs.com. The company
allegedly claims to operate under the jurisdictions of Cyprus, Belize, and
Mauritius and suggests having a business location in London, both of which BaFin
disputes.
The name 'Fortexs' can
mislead customers, as it is associated with a technology provider in the FX and CFD space, 'Fortex'.
Klar Obtains $100M Credit
Facility from Victory Park Capital
Klar, a
digital financial services platform based in Mexico City, has announced the
procurement of a $100 million credit facility from Victory Park Capital, a
global alternative investment firm. This financial backing aims to aid Klar
during its pivotal growth phase as it broadens its offerings, especially in the
realm of transparent credit cards.
Since its
inception in 2019, Klar has experienced significant growth, leading the charge
in the Mexican financial sector by providing accessible credit lines to
millions. The recent collaboration with Victory Park Capital emphasizes Klar's
commitment to democratizing credit access in Mexico.
This is not
the first instance of Goldman facing disciplinary action. In 2017, the firm was
fined $2,500,000 for similar LOPR reporting violations and related supervisory
failures.
Jefferies Recruits from
Credit Suisse
Jefferies
has onboarded Jon Gegenheimer, a former Managing Director at Credit Suisse, to
strengthen its US technology dealmaking arm. Based in San Francisco,
Gegenheimer will directly report to Cameron Lester and Jason Greenberg, the
global Co-Heads of Jefferies' technology, media, and telecom investment banking
division.
This hiring
is part of Jefferies' strategic expansion, which recently saw the firm recruit
top talents from other competitors.
Calvin
Cheng, an investor and ex-parliamentarian from Singapore, has unveiled two new
stablecoins through his rebranded Swiss company, Anchored Coins. The company,
which joined the Swiss VQF earlier in 2023, will issue a Swiss Franc-backed
stablecoin (ACHF) and a Euro-backed stablecoin (AEUR) on Ethereum and BNB Chain
blockchains.
Both
stablecoins will be backed 1-to-1 by their respective fiat currencies. Cheng
emphasizes the stability of Swiss banking and Switzerland's clear regulatory
guidelines as key reasons behind the launch, aiming to provide alternatives to
US dollar-pegged stablecoins.
Bankrupt
Bittrex Reaches $24M Settlement with SEC
Bittrex,
the crypto exchange sued by the US Securities and Exchange Commission (SEC) in
April over alleged illegal operations, has secured the securities regulator’s agreement
to settle the case by paying $24 million. Previously, the exchange agreed to the penalty amount to resolve allegations that it
offered unregistered securities to investors in the United States.
Announcing
the agreement today (Wednesday) in a statement, Bittrex emphasized that the amount will be paid by its affiliate in the US, and not Bittrex Global.
The exchange neither admits nor denies the
allegations raised by the securities watchdog.
Abu Dhabi Grants License for M2 to Offer Crypto Services
The Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has granted M2, a virtual asset company, permission to operate a multilateral trading facility for crypto services in the UAE. Developed with a
focus on enhancing trust and security, M2 aims to establish integrity within
the cryptocurrency sector.
According to a statement
shared by Abu Dhabi Global Market on X social media, the platform, set
to launch later in 2023, will enable both institutional and retail clients to
engage in buying, selling, and storing virtual assets like Bitcoin.
The stock exchange of Hong Kong (HKEX) has released its
interim results for 2023, disclosing remarkable growth in revenue and profit.
HKEX’s revenue and other income for this period reached HKD $10 billion,
showcasing an increase of 18% from the previous year.
The exchange’s revenue
from core business increased 5% year-over-year to HKD $9.7 billion compared to
the first half of 2023. Despite a rise of 7% in operating expenses reportedly due
to increased staff costs and professional fees, the company’s EBITDA margin
reached 75%, representing an upswing of 3 percent points in price from the same
period in 2022.
UK FinTech Growth
Partners Eyes Startups with New Investment Fund
The UK FinTech Growth Partners has unveiled an investments
initiative targeting growth-stage FinTech companies, primarily focusing on
those between Series B and pre-IPO stages; the company said in a statement
today (Wednesday).
The fund’s inaugural
capital deployment is scheduled for the fourth quarter, and it plans to invest
between £10 million and £100 million per endeavor. Operating with the intention
of making a minority equity investment, the FinTech Growth Fund will not only inject capital but
reportedly offers guidance to its portfolio companies.
Nomura Partners with
Angeleno Group: Pioneering Clean Energy Investment
The Tokyo-based Nomura
Holdings and the Los Angeles-based Angeleno Group have entered into a
partnership aimed at promoting investments in clean energy and climate
solutions. The collaboration aims to accelerate the global transition to
renewable energy sources.
Additionally, the deal
involves Nomura’s investment in Angeleno Group’s recent fund,
focused on nurturing clean energy and climate solutions startups in North
America.
The
partnership will lead to a new content initiative named 'BTC etc.' which will
feature a weekly crypto market overview, as well as a monthly podcast. This
podcast will be integrated into eToro's 'Digest & Invest' series and will
host experts from both firms, discussing the latest in the crypto world.
"We
are thrilled to be partnering with Reflexivity Research to bring our users even
more valuable insights about the world of crypto," Mati Alon, the Editor
in Chief at eToro, commented. "As a crypto pioneer, we see it as our
responsibility to provide accessible, timely and relevant content for our users."
Brokeree's Social Trading
Adds New Languages
Brokeree
Solutions, in its recent update, has expanded the linguistic range supported by
its Social Trading platform. This move aims to cater to a broader audience,
enabling them to leverage the platform's innovative features.
Social
Trading, a copy trading platform, empowers brokers to launch trading signal
sharing throughout their trading ecosystem. Reacting to the needs of brokers in
the Southeast Asian region, the platform now supports Malay and Indonesian
languages. The platform now boasts accessibility in over 14 languages,
including Chinese, Korean, Thai, and Hindi.
Julia
Ilychova, the Operations Director at Brokeree Solution, discussed the firm's
expansion strategies, emphasizing the team's growth and the concerted efforts
towards establishing a more substantial foothold in regions like APAC, Middle
East, Africa, the Americas, EU, and the UK. The recent opening of an office in
Cyprus testifies to this commitment.
Warning against Fortexs.com
by BaFin
BaFin, the
German financial regulator, has issued a warning against the financial
offerings presented by Fortexs on its website, fortexs.com. The company
allegedly claims to operate under the jurisdictions of Cyprus, Belize, and
Mauritius and suggests having a business location in London, both of which BaFin
disputes.
The name 'Fortexs' can
mislead customers, as it is associated with a technology provider in the FX and CFD space, 'Fortex'.
Klar Obtains $100M Credit
Facility from Victory Park Capital
Klar, a
digital financial services platform based in Mexico City, has announced the
procurement of a $100 million credit facility from Victory Park Capital, a
global alternative investment firm. This financial backing aims to aid Klar
during its pivotal growth phase as it broadens its offerings, especially in the
realm of transparent credit cards.
Since its
inception in 2019, Klar has experienced significant growth, leading the charge
in the Mexican financial sector by providing accessible credit lines to
millions. The recent collaboration with Victory Park Capital emphasizes Klar's
commitment to democratizing credit access in Mexico.
This is not
the first instance of Goldman facing disciplinary action. In 2017, the firm was
fined $2,500,000 for similar LOPR reporting violations and related supervisory
failures.
Jefferies Recruits from
Credit Suisse
Jefferies
has onboarded Jon Gegenheimer, a former Managing Director at Credit Suisse, to
strengthen its US technology dealmaking arm. Based in San Francisco,
Gegenheimer will directly report to Cameron Lester and Jason Greenberg, the
global Co-Heads of Jefferies' technology, media, and telecom investment banking
division.
This hiring
is part of Jefferies' strategic expansion, which recently saw the firm recruit
top talents from other competitors.
Calvin
Cheng, an investor and ex-parliamentarian from Singapore, has unveiled two new
stablecoins through his rebranded Swiss company, Anchored Coins. The company,
which joined the Swiss VQF earlier in 2023, will issue a Swiss Franc-backed
stablecoin (ACHF) and a Euro-backed stablecoin (AEUR) on Ethereum and BNB Chain
blockchains.
Both
stablecoins will be backed 1-to-1 by their respective fiat currencies. Cheng
emphasizes the stability of Swiss banking and Switzerland's clear regulatory
guidelines as key reasons behind the launch, aiming to provide alternatives to
US dollar-pegged stablecoins.
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
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