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AvaTrade, a forex and contracts for differences (CFDs) broker, has expanded its offerings with the launch of a dedicated futures trading platform, AvaFuture. Launched yesterday (Tuesday), the new platform offers micro, mini, and standard futures contracts.The Launch of AvaFuturesAs seen on its website, AvaFuture provides futures contracts across a range of asset classes, including indices, commodities, currencies, treasuries, cryptocurrencies, and metals. It further highlighted that it is pricing the contracts at $1.75 per standard per trade.Founded in 2006, AvaTrade is an Ireland-headquartered brokerage offering retail forex and CFDs of stocks, exchange-traded funds (ETFs), cryptocurrencies, and other asset classes. The latest offerings of futures are an extension of its existing services to retail traders. It also offers options trading under the brand AvaOptions.The Irish broker is also well-regulated, as it holds operational licenses from the authorities in Ireland, the British Virgin Islands, Australia, South Africa, Japan, the UAE, Cyprus, and Israel. Although the website of the new futures platform did not specify any particular regulator for its services, AvaTrade can offer the services under any of its licenses, depending on the jurisdiction.Apart from product expansion, AvaTrade is also focused on geographies and is contemplating obtaining a regulatory license in Spain, thus further bolstering its services within the European Union.CFDs Platforms Shift Towards FuturesMeanwhile, AvaTrade is not the only broker to see value in futures, as other brokers have also launched futures offerings in recent years.In 2021, Plus500, a London-listed FX and CFDs broker, acquired Cunningham Commodities and Cunningham Trading Systems, two US-based firms, and has launched futures trading for its clients in the US. Furthermore, Ingmar Mattus, the founder of Tickmill, another FX/CFDs broker, recently launched MetroTrade, a futures trading platform in the US market.Interestingly, an earlier survey by Acuiti revealed that over 50 percent of European retail brokers would look to offer futures and options instead of retail over-the-counter instruments, such as CFDs.This article was written by Arnab Shome at www.financemagnates.com.
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Bankrupt cryptocurrency exchange FTX plans to repay 98 percent of its creditors up to 118 percent of their claims in cash, an announcement yesterday (Tuesday) detailed. Only creditors with $50,000 or less in claims will be eligible to receive the claims under this plan, which is expected to be fulfilled within 60 days of court approval.Under the plan, all non-governmental creditors will also receive their claims in full, along with a 9 percent interest to be calculated from the date of the bankruptcy filing. According to the exchange, it will fulfill “the time value of their investments.”Joy for FTX Creditors“We are pleased to be in a position to propose a Chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” John Ray III, CEO and Chief Restructuring Officer of FTX, said in a statement.The distribution plan came 17 months after the crypto exchange filed for bankruptcy. At the time of the bankruptcy filing, Bitcoin was trading at about $16,000, but it recently peaked at above $72,000. FTX was holding a significant stash of cryptocurrencies.“As previously disclosed, FTX.com had a massive shortfall at the time of the Chapter 11 filing in November 2022 — holding only 0.1% of the Bitcoin and only 1.2% of the Ethereum customers believed it held,” the exchange noted. “The Debtors have not been able to benefit from the appreciation of these missing tokens during the Chapter 11 cases.”Don’t know what Netflix paid for this Tom Brady Roast, but him getting roasted on FTX — with a side jab at Gronk — was worth it pic.twitter.com/Y0N0lorfgQ— Trung Phan (@TrungTPhan) May 6, 2024The bankruptcy exchange further highlighted that, according to its forecasts, it will have between $14.5 and $16.3 billion available for distribution.“FTX has achieved this recovery level by monetizing an extraordinarily diverse collection of assets, most of which were proprietary investments held by the Alameda or FTX Ventures businesses, or litigation claims,” the announcement added.The Compromise of Government AgenciesThe condition of FTX looked grim when the company filed for bankruptcy. However, a proposed payout earlier estimated that the creditors would receive about 90 percent of their claims. Those figures were revised by the CEO Ray last January, revealing the plans to repay the customers in full.The exchange was pushed to file for bankruptcy in November 2022 as it had an $8 billion hole in its books.The latest reorganization would also see the settlement of claims with regulators and government agencies. The Internal Revenue Service (IRS), which has a claim of $24 billion, would receive $200 million in cash payment and a $685 million subordinated claim, which it will receive after the payout to all creditors and other governmental entities.The Commodity Futures Trading Commission (CFTC) and other governmental claimants also agreed to subordinate their claims until the claim is paid to the FTX customers and other creditors.This article was written by Arnab Shome at www.financemagnates.com.
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OANDA, the online multi-asset trading service provider, has promoted Lucian Lauerman to Deputy Chief Operating Officer. Previously,Lauerman served as the Head of Digital Assets at the firm for more than two years. He joinedOANDA in 2019 as Head of Data Services.According to his LinkedIn profile, Lauerman has held keyroles in notable companies such as Saxo Bank, Lloyds Banking Group, and GLTrade. At Saxo Bank, he rose from the role of Head of API Business to GlobalHead of Electronic Distribution.Leadership Changes at OANDAIn February, Jessica Beckstead, the CEO of OANDA US,expanded her role as the Head of FX Data Services. With over 20 years ofexperience in the financial services industry, Beckstead has a wealth ofknowledge and leadership from previous key roles at FXCM. Her journeyin the financial services industry spans over two decades, including her tenureat FXCM, where she held various significant positions, including Managing Director & Global Head, CEO of FXCM Australia, and Managing Director of Emerging Markets.Commenting on her expanded responsibilities, Becksteadhighlighted the crucial role of data-driven insights in today's financialmarkets. She expressed enthusiasm about leading OANDA's FX Data Servicesdivision, emphasizing the company's commitment to delivering top-tier servicesglobally. Expanding OfferingsMeanwhile, OANDA recently ventured into proprietary trading with OANDA Labs Trader, Finance Magnates reported. The initiative aimsto empower traders, offering them the opportunity to earn up to 75% profitsthrough OANDA's Global Markets division in the British Virgin Islands. Tradersmust pass an assessment and adhere to regulatory standards, qualifying forfunding ranging from $25,000 to $500,000.OANDA's proprietary trading program presents challenges withprofit targets and loss limits, providing traders with a structured approach totrading while mitigating risks. By embracing proprietary trading, OANDA aims to empower traders with opportunities for growth while maintaining compliancewith regulatory standards.This article was written by Jared Kirui at www.financemagnates.com.
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Australian Taxation Office (ATO) has requestedpersonal data and transaction details from crypto exchanges of up to 1.2million accounts to crack down on potential tax evaders, Reuters reported. Thismove marks a significant escalation in the ATO's efforts to ensure compliancein the rapidly expanding digital currency market.Oversight of Crypto Tax ComplianceATO's notice, issued last month, aims to identifyindividuals who may have failed to report their crypto transactions. It focuseson instances where crypto assets were exchanged or utilized for paymentswithout proper tax declarations.ATO has acknowledged the complexities of thecrypto industry, attributing non-compliance to a lack of awareness regardingtax obligations. Additionally, the potential for anonymous transactions usingfalse information poses a challenge in effectively enforcing tax laws.The scope of the ATO's request extends beyond basictransaction details. It encompasses personal information such as dates of birth,phone numbers, and social media accounts. Additionally, the authority is seekingspecific details like bank accounts, wallet addresses, and the types of coinsinvolved. Australia categorizes cryptocurrencies as assets for tax assessment, subjecting investors to capital gainstax obligations upon selling or trading crypto assets. This approach aims toensure equitable taxation across traditional and digital asset classes.Rising Crypto AdoptionThe exponentialgrowth of Australia's crypto market is evident from a treasury reportindicating a significant uptick in digital asset transactions. With over800,000 taxpayers engaging in crypto activities in recent years, the country experienced a remarkable 63% surge in participation in 2021. Meanwhile, Australia is preparing to embrace Bitcoin exchange-traded funds(ETFs), a move that could reshape the country's investment landscape. Followingthe footsteps of the US and Hong Kong, ASX Ltd, Australia's primary equityexchange, could soon allow the launch of Bitcoin ETFs, Bloomberg reported.The soaring interest in cryptocurrenciesamong investors is evident in the $53 billion inflow into US Bitcoin ETFs thisyear. Notable players like Van Eck Associates Corp. and BetaShares Holdings Ptyare poised to introduce similar ETFs in Australia. This comes amidst aresurgence in the crypto market, which recently drove Bitcoin price to a record high exceeding$70,000.ASX, responsible for the majority of equitytrading in Australia, is currently evaluating applications for spot BitcoinETFs. Although the exact timeline hasn't been confirmed,insiders speculate approvals could materialize before the end of the year. Australia's $2.3 trillion pension market stands as acrucial catalyst for Bitcoin ETF inflows. This article was written by Jared Kirui at www.financemagnates.com.
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Cash, once theundisputed king of commerce, now languishes in forgotten corners of wallets. In its place, a new financial language is emerging, onedominated by taps, swipes, and the reassuring hum of mobile phones. At theforefront of this revolution stands China's Ant Group, whose brainchild,Alipay+, is <a href="https://www.cnbc.com/2024/05/06/chinese-fintech-ant-group-doubles-down-on-global-expansion-with-alipay.html">quietlyconstructing a digital infrastructure</a> that transcends borders and redefineshow we pay.Unlike its predecessorAlipay, which caters primarily to the Chinese domestic market, Alipay+functions as a bridge between a multitude of e-wallets. It allows internationaltravelers to seamlessly use their native payment apps abroad, eliminating theneed for cumbersome currency exchanges or fumbling with unfamiliar systems.This seemingly simple innovation holds immense potential, not just for theconvenience it offers individual consumers, but for the way it reshapes thevery fabric of global commerce.Ant Group's ambitionsstretch far beyond facilitating tourist transactions. They envision a worlddominated by the digital bazaar, a bustling marketplace devoid of geographicallimitations. <a href="https://www.financemagnates.com/fintech/payments/hong-kongs-digital-wallet-revolution-ushers-in-a-borderless-shopping-spree/">The driving force behindthis transformation </a>is a fundamental human desire: the need for familiarity andtrust. Ant Group understands that travelers, especially in unfamiliarterritory, crave a sense of control over their finances. By allowing them to utilizetheir trusted homegrown e-wallets, Alipay+ fosters a sense of security andremoves a layer of friction from the spending experience. This, in turn, fuelsa more dynamic and free-flowing global economy, as tourist dollars (or theirdigital equivalents) circulate with greater ease.However, the rise ofAlipay+ presents a fascinating puzzle. While it promotes an interconnectedfinancial ecosystem, it simultaneously raises questions about the dominance ofa single player, particularly one hailing from a nation with a complex geopoliticallandscape like China. Can Alipay+ maintain its neutrality in a worldincreasingly fractured by ideological divides? Or will it become an unwittingpawn in a larger geopolitical game?These concerns are notwithout merit. The dominance of American financial institutions like Visa andMastercard in the pre-digital era serves as a cautionary tale. Theirnear-monopoly created an imbalanced system, with hefty fees oftendisproportionately impacting developing economies. It is crucial to ensure thatAlipay+ doesn't replicate this model, but instead fosters a truly inclusive andinteroperable system that benefits all participants.The answer may lie infostering healthy competition. While Alipay+ is currently at the forefront,other tech giants are undoubtedly watching closely. The potential for similarplatforms catering to specific regions or demographics is vast. This potentialfor competition could pave the way for a more balanced and equitable digitalfinancial landscape.The long-term impact ofAlipay+ extends beyond commerce. It has the potential to redefine the way weinteract with the world around us. A seamless payment experience can fosterdeeper cultural exchange and understanding. Tourists, no longer burdened by currencywoes, can focus on immersing themselves in the local culture, patronizing localbusinesses, and forging meaningful connections. This, in turn, can lead to amore interconnected and empathetic global citizenry.Of course, challengesremain. Regulatory hurdles, data privacy concerns, and the ever-present threatof cybercrime all pose significant obstacles. However, the potential benefitsof a truly globalized digital payment system are undeniable. As Ant Group continuesto refine Alipay+, the world watches with a mix of anticipation andtrepidation. Will it usher in a new era of financial inclusion and culturalexchange, or will it become a tool for dominance in a fragmented world? Onlytime…
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The slumbering giant ofB2B payments in Europe is finally stirring. For decades, businesses have beenshackled to a system bogged down in paper invoices, manual reconciliations, andglacial settlement times. But a recent development promises to be the key thatunlocks the dungeon – EBA CLEARING's successful pan-European proof of conceptfor its Request to Pay (R2P) service.This isn't someincremental tweak to the existing system. R2P is a revolution in disguise, acomplete overhaul of how businesses request and receive payments from eachother. Forget the days of chasing down invoices or wrestling with arcaneremittance information. R2P ushers in an era of frictionless, instant payments,streamlined workflows, and a significant boost to cash flow for B2Btransactions.The magic lies in theinfrastructure. EBA CLEARING's R2P acts as a central nervous system,facilitating the secure and standardized exchange of request to pay messagesacross Europe. Think of it as a Rosetta Stone for B2B payments, breaking downcommunication barriers and ensuring everyone speaks the same financiallanguage. This not only streamlines the process but also opens the door to aworld of innovative applications, particularly when it comes to e-invoicing.As such, invoices will no longer paper prisons for data. Instead, they become dynamic,interactive documents embedded with R2P functionality. A supplier sends adigital invoice directly to the buyer's system. Embedded within the invoiceitself is a clear request to pay, complete with all the necessary details:amount due, due date, and crucially, a single click payment option. The buyersimply reviews the invoice and approves the payment with a tap of their finger.The benefits cascadedown like a financial waterfall as instant settlements mean suppliers receivetheir money faster, thus boosting their cash flow and operational efficiency. Buyers,on the other hand, can leverage early payment discounts and streamline theiraccounts payable processes. Automation eliminates the need for manual dataentry, reducing errors and freeing up valuable resources.But the ripple effectsextend far beyond immediate financial gains due to how R2P has the potential tofundamentally reshape the B2B ecosystem in Europe. Faster payments translate tosmoother supply chains, reducing disruptions and delays. Increased transparencyand improved cash flow management can foster stronger supplier relationshipsand collaboration. This, in turn, can lead to increased innovation andproductivity across the business landscape.While the recent proofof concept is a cause for celebration, it's just the first step on the road towidespread R2P adoption. Integration with existing financial systems willrequire collaboration between banks, fintechs, and businesses themselves. Standardizationacross the continent will be crucial to ensure seamless interoperability.Regulatory frameworks will need to adapt to accommodate this new paradigm.However, the potentialrewards are simply too significant to ignore. The European B2B paymentslandscape is ripe for disruption, and R2P offers a compelling alternative tothe status quo. With continued collaboration and a focus on overcomingimplementation hurdles, R2P has the power to break the chains that have longheld back B2B transactions in Europe, ushering in a new era of financialfreedom and efficiency.This isn't just aboutfaster payments; it's about unlocking the true potential of the Europeanbusiness ecosystem. It's about empowering businesses to focus on what they dobest – creating, innovating, and driving growth. The shackles are coming off,and the future of B2B payments in Europe is looking bright.This article was written by Pedro Ferreira at www.financemagnates.com.
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Bybit, one of the world’s top three crypto exchanges by volume, today announced a collaborative donation campaign with foxbit, a local cryptocurrency exchange in Brazil, to support the victims of the devastating floods in Southern Brazil.The recent heavy rains have caused the worst floods in the region in over 80 years, impacting an estimated 350,000 lives in the state of Rio Grande do Sul. Bybit stands in solidarity with the affected communities and is committed to providing urgent relief.Double Your Impact: Bybit to Match DonationsBybit is partnering with foxbit, which launched the emergency campaign "Ajude o Rio Grande do Sul," to channel donations directly to local NGOs leading the relief and reconstruction efforts.To maximize the impact of this initiative, Bybit will match all donations collected, up to US$10,000. Every contribution, big or small, will make a significant difference in the lives of those affected by this tragedy.How You Can HelpVisit the foxbit website to donate directly to the "Ajude o Rio Grande do Sul" campaign. Together, we can help the people of Southern Brazil recover from this devastating disaster.About BybitBybit (https://www.bybit.com) is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.This article was written by FM Contributors at www.financemagnates.com.
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Cryptocurrency casino platform TG.Casino and iconic Italian football team AC Milan announced they have struck a new partnership this week. TG.Casino AnnouncementIn a May 6 tweet, the @TGCasino_ account on X posted: ‘TG Casino is proud to formally announce our new partnership with AC Milan joining them as their iGaming partner in Europe. Players at TG Casino will soon be able to win money can’t buy AC Milan experiences and merchandise!’The acmilan.com website posted a press release the same day:‘AC Milan and TG.Casino are delighted to announce a new partnership, which sees the online casino platform become the Official Regional iGaming Partner of the Rossoneri in Europe. Thanks to this new partnership, $TGC token holders will have the chance to win lots of experiences offered by the Rossoneri club.’The football club went on to add that $TGC holders will have chances to win official AC Milan jerseys, visits to the Milanello training centre, VIP access at the San Siro stadium and more ‘bespoke experiences’ that bring them closer to the club.Players at the top crypto casino also took to Twitter to note that the partnership could be important for TG.Casino and it's native token ($TGC), thanks to the increased exposure for the Telegram compatible crypto casino app.New Crypto Casino Continues Giving Back to PlayersTG.Casino is a relatively new crypto casino, founded in 2023 and holding an ICO for its $TGC utility token in September of that year.Listed on Uniswap on January 5th, 2024, the $TGC token price raised over 10% hours after the AC Milan partnership was announced on the 6th May before getting back to the pre-announcement levels the day after.The existing use cases of $TGC according to CoinMarketCap include ‘cashback on losses and staking rewards’ for holders - a portion of the crypto casino’s profits are used to buy back $TGC on the open market, 40% of which are then burned to lower the circulating supply and 60% of which are added to a staking pool.Now following the partnership, AC Milan also described $TGC as a ‘fan engagement tool’.TG.Casino also launched an NFT collection on OpenSea in 2024, holders of which have their casino rewards multiplied further.About TG.CasinoLicensed in Curacao, TG.Casino (https://www.tg.casino/) has been ranked the top no KYC casino on leading tech blogs for its innovative Telegram bot that allows for instant play anywhere in the world of over 5,000 games, with no verification requirements.That was echoed by AC Milan following its May 6 announcement that TG.Casino will be its new regional iGaming partner, who stated the partnership ‘catapults TG.Casino into the top ranks of GameFi by bringing the brand into the living rooms and onto the mobiles of tens of millions of consumers all over Europe.’Since its 2023 launch the platform took a different, novel approach to other new crypto casinos and developed its platform primarily on Telegram, in order to provide complete anonymity and seamless mobile play.TG.Casino is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.This article was written by FM Contributors at www.financemagnates.com.
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FIS (NYSE: FIS) has launched a fintech platform toenable financial institutions, businesses, and software developers to integratefinancial services into their products and processes. Dubbed Atelio, the newplatform provides users with access to a range of financial services, includingdeposit collection, fund transfers, card issuance, invoicing, fraud prevention,cash flow forecasting, and customer behavior analysis.Targeting Financial Institutions and BusinessesAccording to thepress release, companies can simplify the process of offering financialservices and customer support through Atelio. The platform enables financial institutions and businessesto embed financial services into their products and processes.Tarun Bhatnagar, the President of Platform andEnterprise Products at FIS, mentioned: "Atelio by FIS is our vision to leadwhere fintech is going, which is outside the boundaries of how businessesenable, and their customers consume financial services today. More than just anew solution, Atelio is built to lend the expertise, tools, and distribution sothat our users and clients can focus on creating."Announcing Atelio by FIS → Learn more about how we’re building the future of fintech - https://t.co/gapbTM8DHv pic.twitter.com/LyCUibEoJX— Atelio (@ateliobyfis) May 7, 2024KeyBank, College Ave, and RoyalPay Inc. are some ofthe companies that have embraced Atelio. The launch comes at a time when embeddedfinance is poised for exponential growth, with modern software solutionsenhancing financial services. By making FIS’ fintech capabilities accessible innew ways, Atelio aims to facilitate greater participation in this growingspace.In February, FIS partnered with Banked, a provider ofopen banking solutions, for direct payments within the banking sector. Byleveraging open banking, APIs, and real-time payment services, thiscollaboration aims to enable fund transfers directly from users' accounts,bypassing traditional methods like card details or account numbers.Innovation in Digital PaymentsWith open banking gaining momentum in the UnitedStates, FIS is set to integrate this new feature across various sectors,including insurance, higher education, utilities, and governmental agencies.Seamus Smith, the Group President for Global Business-to-Business Payments atFIS, highlighted that the partnership with Banked marks FIS' dedication toproviding payment services across critical industries.Additionally, FIS partnered with Stratyfy to bolster its card fraud detection capabilities. This collaboration aims to address the growing concerns surrounding fraudulent activities that pose significant risks to businesses and consumers alike. Central to this collaboration is Stratyfy's machine learning approach, which promises better outcomes in fraud detection. FIS and Stratyfy aim to prevent unnecessary disruptions and delays in transactions caused by fraudulent activities.This article was written by Jared Kirui at www.financemagnates.com.
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As the digital dawn of gaming rises, the visionary minds behind DECIMATED are ecstatic to unveil their groundbreaking foray into the desolate yet captivating future of online gaming. DECIMATED, a novel 3rd person PvP and PvE online game experience, invites players to an unprecedented journey through a vast dystopian landscape. Offering freedom for players to explore this post-apocalyptic playground, DECIMATED opens up a realm where players craft their own fate as human citizens struggling for survival or cyborg cops enforcing order in a world where nature and technology collide in chaos.A New World Awaits: Immersive Gameplay and Unparalleled AdventureAt the heart of DECIMATED lies a richly designed, immersive world that tests each player’s survival instincts at every turn. Players engage in a relentless battle for existence against the apocalyptic aftermath, populated by mutated creatures, environmental hazards, and rival survivors. This rich narrative is further enhanced by offering players the opportunity to salvage advanced technology, uncover hidden treasures, and navigate the perils of a fractured society on the brink of rebirth.DECIMATED stands as a testament to survival, strategy, and resilience, offering a sandbox of endless possibilities. Whether patching up a battle-scarred vehicle, building impenetrable bases, to navigating the treacherous markets of this new world, players can embrace the lawless land, facing off against deranged robots, monstrous bio-entities, and other mutants, all while forging alliances or rivalries with other players to carve out a semblance of civilization amid chaos.Backed by 46 Investors and a Growing CommunityDecimated received an Epic Mega Grant and was backed by 46 investors in December 2021 after the studio was self-funded as an indie start-up for 3 years. Developers Fracture Labs were offered $34M from 180 investors and accepted $3.5M from VC’s including Mechanism Capital, Spartan Capital, Polygon Ventures, Good Games Guild, Israel Blockchain Association, Dutch Crypto Investors and Metavest Capital to name a few. Since then, the Decimated community has grown to 60k followers on Twitter and 23k members in Discord, many of whom are participating in the closed alpha testing.A Quest for Dominance in the Wasteland: The DIO TokenEconomic gameplay takes a revolutionary turn in DECIMATED with the DIO token, integrated into the game using the Solana chain, and with interoperability between all of Fracture Labs' planned games. This creates a real-time digital economy within DECIMATED, incentivizing players for each and every decision made, as well as their efforts within the game itself. Every transaction, trade, and treasure found within this desolate world is valued in DIO, bridging the game to real-world economic principles, making the thrill of loot discovery and trading exponentially more engaging.The ways to earn in DECIMATED are as varied as the wasteland itself. Players can venture into the unknown, salvaging cargo and lost technology, engaging in both legal and illicit commerce to claim their fortune. Whether it's ambushing convoys for loot, undertaking dangerous missions, or trading valuable finds on the virtual market, success in the desolate landscape of DECIMATED demands wit, bravery, and a keen sense of strategy. Decimated features a leaderboard system that rewards the best performing players, whether they play solo, in guilds or clans.A Game Forged for the Future at Token2049 DubaiIn a recent announcement, DECIMATED confirmed its official sponsorship of Token2049 Dubai, underscoring its commitment to innovation, blockchain technology, and the burgeoning digital economy, demonstrating their potential for the future from the lens of immersive gaming. This sponsorship accentuates DECIMATED’s commitment to forging a future where gaming transcends mere entertainment to become a cornerstone of digital economies in virtual worlds, allowing players to earn real rewards through tournaments.The community buzzed with excitement for DECIMATED…
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Australian Taxation Office (ATO) has requestedpersonal data and transaction details from crypto exchanges for up to 1.2million accounts to crack down on potential tax evaders, Reuters reported. Thismove marks a significant escalation in the ATO's efforts to ensure compliancein the rapidly expanding digital currency market.Oversight of Crypto Tax ComplianceThe ATO's notice, issued last month, aims to identifyindividuals who may have failed to report their crypto transactions. It focuseson instances where crypto assets were exchanged or utilized for paymentswithout proper tax declarations.The ATO has acknowledged the complexities of thecrypto industry, attributing non-compliance to a lack of awareness regardingtax obligations. Additionally, the potential for anonymous transactions usingfalse information poses a challenge in effectively enforcing tax laws.The scope of the ATO's request extends beyond basictransaction details, encompassing personal information such as dates of birth,phone numbers, and social media accounts. Additionally, the office is seekingspecific details like bank accounts, wallet addresses, and the types of coinsinvolved. Australia's tax treatment of digital currenciesreportedly categorizes them as assets, subjecting investors to capital gainstax obligations upon selling or trading crypto assets. This approach aims toensure equitable taxation across traditional and digital asset classes.Rising Crypto AdoptionThe exponentialgrowth of Australia's crypto market is evident from a treasury reportindicating a significant uptick in digital asset transactions. With over800,000 taxpayers engaging in crypto activities in recent years, 2021 witnesseda remarkable 63% surge in participation.Meanwhile, Australia is preparing to embrace Bitcoin exchange-traded funds(ETFs), a move that could reshape the country's investment landscape. Followingthe footsteps of the US and Hong Kong, ASX Ltd, Australia's primary equityexchange, could soon allow the launch of Bitcoin ETFs, Bloomberg reported.The soaring interest in cryptocurrenciesamong investors is evident in the $53 billion inflow into US Bitcoin ETFs thisyear. Notable players like Van Eck Associates Corp. and BetaShares Holdings Ptyare poised to introduce similar ETFs in Australia. This comes amidst aresurgence in the crypto market, driving Bitcoin to record highs exceeding$70,000.ASX, responsible for the majority of equitytrading in Australia, is currently evaluating applications for spot BitcoinETFs. Although an exact timeline hasn't been confirmed,insiders speculate approvals could materialize before the year's end. Australia's $2.3 trillion pension market stands as acrucial catalyst for Bitcoin ETF inflows. This article was written by Jared Kirui at www.financemagnates.com.
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Cash, once theundisputed king of commerce, now languishes in forgotten corners of wallets. In its place, a new financial language is emerging, onedominated by taps, swipes, and the reassuring hum of mobile phones. At theforefront of this revolution stands China's Ant Group, whose brainchild,Alipay+, is <a href="https://www.cnbc.com/2024/05/06/chinese-fintech-ant-group-doubles-down-on-global-expansion-with-alipay.html">quietlyconstructing a digital infrastructure</a> that transcends borders and redefineshow we pay.Unlike its predecessorAlipay, which caters primarily to the Chinese domestic market, Alipay+functions as a bridge between a multitude of e-wallets. It allows internationaltravelers to seamlessly use their native payment apps abroad, eliminating theneed for cumbersome currency exchanges or fumbling with unfamiliar systems.This seemingly simple innovation holds immense potential, not just for theconvenience it offers individual consumers, but for the way it reshapes thevery fabric of global commerce.Ant Group's ambitionsstretch far beyond facilitating tourist transactions. They envision a worlddominated by the digital bazaar, a bustling marketplace devoid of geographicallimitations. <a href="https://www.financemagnates.com/fintech/payments/hong-kongs-digital-wallet-revolution-ushers-in-a-borderless-shopping-spree/">The driving force behindthis transformation </a>is a fundamental human desire: the need for familiarity andtrust. Ant Group understands that travelers, especially in unfamiliarterritory, crave a sense of control over their finances. By allowing them to utilizetheir trusted homegrown e-wallets, Alipay+ fosters a sense of security andremoves a layer of friction from the spending experience. This, in turn, fuelsa more dynamic and free-flowing global economy, as tourist dollars (or theirdigital equivalents) circulate with greater ease.However, the rise ofAlipay+ presents a fascinating puzzle. While it promotes an interconnectedfinancial ecosystem, it simultaneously raises questions about the dominance ofa single player, particularly one hailing from a nation with a complex geopoliticallandscape like China. Can Alipay+ maintain its neutrality in a worldincreasingly fractured by ideological divides? Or will it become an unwittingpawn in a larger geopolitical game?These concerns are notwithout merit. The dominance of American financial institutions like Visa andMastercard in the pre-digital era serves as a cautionary tale. Theirnear-monopoly created an imbalanced system, with hefty fees oftendisproportionately impacting developing economies. It is crucial to ensure thatAlipay+ doesn't replicate this model, but instead fosters a truly inclusive andinteroperable system that benefits all participants.The answer may lie infostering healthy competition. While Alipay+ is currently at the forefront,other tech giants are undoubtedly watching closely. The potential for similarplatforms catering to specific regions or demographics is vast. This potentialfor competition could pave the way for a more balanced and equitable digitalfinancial landscape.The long-term impact ofAlipay+ extends beyond commerce. It has the potential to redefine the way weinteract with the world around us. A seamless payment experience can fosterdeeper cultural exchange and understanding. Tourists, no longer burdened by currencywoes, can focus on immersing themselves in the local culture, patronizing localbusinesses, and forging meaningful connections. This, in turn, can lead to amore interconnected and empathetic global citizenry.Of course, challengesremain. Regulatory hurdles, data privacy concerns, and the ever-present threatof cybercrime all pose significant obstacles. However, the potential benefitsof a truly globalized digital payment system are undeniable. As Ant Group continuesto refine Alipay+, the world watches with a mix of anticipation andtrepidation. Will it usher in a new era of financial inclusion and culturalexchange, or will it become a tool for dominance in a fragmented world? Onlytime…
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The slumbering giant ofB2B payments in Europe is finally stirring. For decades, businesses have beenshackled to a system bogged down in paper invoices, manual reconciliations, andglacial settlement times. But a recent development promises to be the key thatunlocks the dungeon – EBA CLEARING's successful pan-European proof of conceptfor its Request to Pay (R2P) service.This isn't someincremental tweak to the existing system. R2P is a revolution in disguise, acomplete overhaul of how businesses request and receive payments from eachother. Forget the days of chasing down invoices or wrestling with arcaneremittance information. R2P ushers in an era of frictionless, instant payments,streamlined workflows, and a significant boost to cash flow for B2Btransactions.The magic lies in theinfrastructure. EBA CLEARING's R2P acts as a central nervous system,facilitating the secure and standardized exchange of request to pay messagesacross Europe. Think of it as a Rosetta Stone for B2B payments, breaking downcommunication barriers and ensuring everyone speaks the same financiallanguage. This not only streamlines the process but also opens the door to aworld of innovative applications, particularly when it comes to e-invoicing.As such, invoices will no longer paper prisons for data. Instead, they become dynamic,interactive documents embedded with R2P functionality. A supplier sends adigital invoice directly to the buyer's system. Embedded within the invoiceitself is a clear request to pay, complete with all the necessary details:amount due, due date, and crucially, a single click payment option. The buyersimply reviews the invoice and approves the payment with a tap of their finger.The benefits cascadedown like a financial waterfall as instant settlements mean suppliers receivetheir money faster, thus boosting their cash flow and operational efficiency. Buyers,on the other hand, can leverage early payment discounts and streamline theiraccounts payable processes. Automation eliminates the need for manual dataentry, reducing errors and freeing up valuable resources.But the ripple effectsextend far beyond immediate financial gains due to how R2P has the potential tofundamentally reshape the B2B ecosystem in Europe. Faster payments translate tosmoother supply chains, reducing disruptions and delays. Increased transparencyand improved cash flow management can foster stronger supplier relationshipsand collaboration. This, in turn, can lead to increased innovation andproductivity across the business landscape.While the recent proofof concept is a cause for celebration, it's just the first step on the road towidespread R2P adoption. Integration with existing financial systems willrequire collaboration between banks, fintechs, and businesses themselves. Standardizationacross the continent will be crucial to ensure seamless interoperability.Regulatory frameworks will need to adapt to accommodate this new paradigm.However, the potentialrewards are simply too significant to ignore. The European B2B paymentslandscape is ripe for disruption, and R2P offers a compelling alternative tothe status quo. With continued collaboration and a focus on overcomingimplementation hurdles, R2P has the power to break the chains that have longheld back B2B transactions in Europe, ushering in a new era of financialfreedom and efficiency.This isn't just aboutfaster payments; it's about unlocking the true potential of the Europeanbusiness ecosystem. It's about empowering businesses to focus on what they dobest – creating, innovating, and driving growth. The shackles are coming off,and the future of B2B payments in Europe is looking bright.This article was written by Pedro Ferreira at www.financemagnates.com.
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Bybit, one of the world’s top three crypto exchanges by volume, today announced a collaborative donation campaign with foxbit, a local cryptocurrency exchange in Brazil, to support the victims of the devastating floods in Southern Brazil.The recent heavy rains have caused the worst floods in the region in over 80 years, impacting an estimated 350,000 lives in the state of Rio Grande do Sul. Bybit stands in solidarity with the affected communities and is committed to providing urgent relief.Double Your Impact: Bybit to Match DonationsBybit is partnering with foxbit, which launched the emergency campaign "Ajude o Rio Grande do Sul," to channel donations directly to local NGOs leading the relief and reconstruction efforts.To maximize the impact of this initiative, Bybit will match all donations collected, up to US$10,000. Every contribution, big or small, will make a significant difference in the lives of those affected by this tragedy.How You Can HelpVisit the foxbit website to donate directly to the "Ajude o Rio Grande do Sul" campaign. Together, we can help the people of Southern Brazil recover from this devastating disaster.About BybitBybit (https://www.bybit.com) is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.This article was written by FM Contributors at www.financemagnates.com.
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Cryptocurrency casino platform TG.Casino and iconic Italian football team AC Milan announced they have struck a new partnership this week. TG.Casino AnnouncementIn a May 6 tweet, the @TGCasino_ account on X posted: ‘TG Casino is proud to formally announce our new partnership with AC Milan joining them as their iGaming partner in Europe. Players at TG Casino will soon be able to win money can’t buy AC Milan experiences and merchandise!’The acmilan.com website posted a press release the same day:‘AC Milan and TG.Casino are delighted to announce a new partnership, which sees the online casino platform become the Official Regional iGaming Partner of the Rossoneri in Europe. Thanks to this new partnership, $TGC token holders will have the chance to win lots of experiences offered by the Rossoneri club.’The football club went on to add that $TGC holders will have chances to win official AC Milan jerseys, visits to the Milanello training centre, VIP access at the San Siro stadium and more ‘bespoke experiences’ that bring them closer to the club.Players at the top crypto casino also took to Twitter to note that the partnership could be important for TG.Casino and it's native token ($TGC), thanks to the increased exposure for the Telegram compatible crypto casino app.New Crypto Casino Continues Giving Back to PlayersTG.Casino is a relatively new crypto casino, founded in 2023 and holding an ICO for its $TGC utility token in September of that year.Listed on Uniswap on January 5th, 2024, the $TGC token price raised over 10% hours after the AC Milan partnership was announced on the 6th May before getting back to the pre-announcement levels the day after.The existing use cases of $TGC according to CoinMarketCap include ‘cashback on losses and staking rewards’ for holders - a portion of the crypto casino’s profits are used to buy back $TGC on the open market, 40% of which are then burned to lower the circulating supply and 60% of which are added to a staking pool.Now following the partnership, AC Milan also described $TGC as a ‘fan engagement tool’.TG.Casino also launched an NFT collection on OpenSea in 2024, holders of which have their casino rewards multiplied further.About TG.CasinoLicensed in Curacao, TG.Casino (https://www.tg.casino/) has been ranked the top no KYC casino on leading tech blogs for its innovative Telegram bot that allows for instant play anywhere in the world of over 5,000 games, with no verification requirements.That was echoed by AC Milan following its May 6 announcement that TG.Casino will be its new regional iGaming partner, who stated the partnership ‘catapults TG.Casino into the top ranks of GameFi by bringing the brand into the living rooms and onto the mobiles of tens of millions of consumers all over Europe.’Since its 2023 launch the platform took a different, novel approach to other new crypto casinos and developed its platform primarily on Telegram, in order to provide complete anonymity and seamless mobile play.TG.Casino is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.This article was written by FM Contributors at www.financemagnates.com.
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Bankrupt cryptocurrency exchange FTX plans to repay 98 percent of its creditors up to 118 percent of their claims in cash, an announcement yesterday (Tuesday) detailed. Only creditors with $50,000 or less in claims will be eligible to receive the claims under this plan, which is expected to be fulfilled within 60 days of court approval.Under the plan, all non-governmental creditors will also receive their claims in full, along with a 9 percent interest to be calculated from the date of the bankruptcy filing. According to the exchange, it will fulfill “the time value of their investments.”Joy for FTX Creditors“We are pleased to be in a position to propose a Chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” John Ray III, CEO and Chief Restructuring Officer of FTX, said in a statement.The distribution plan came 17 months after the crypto exchange filed for bankruptcy. At the time of the bankruptcy filing, Bitcoin was trading at about $16,000, but it recently peaked at above $72,000. FTX was holding a significant stash of cryptocurrencies.“As previously disclosed, FTX.com had a massive shortfall at the time of the Chapter 11 filing in November 2022 — holding only 0.1% of the Bitcoin and only 1.2% of the Ethereum customers believed it held,” the exchange noted. “The Debtors have not been able to benefit from the appreciation of these missing tokens during the Chapter 11 cases.”Don’t know what Netflix paid for this Tom Brady Roast, but him getting roasted on FTX — with a side jab at Gronk — was worth it pic.twitter.com/Y0N0lorfgQ— Trung Phan (@TrungTPhan) May 6, 2024The bankruptcy exchange further highlighted that, according to its forecasts, it will have between $14.5 and $16.3 billion available for distribution.“FTX has achieved this recovery level by monetizing an extraordinarily diverse collection of assets, most of which were proprietary investments held by the Alameda or FTX Ventures businesses, or litigation claims,” the announcement added.The Compromise of Government AgenciesThe condition of FTX looked grim when the company filed for bankruptcy. However, a proposed payout earlier estimated that the creditors would receive about 90 percent of their claims. Those figures were revised by the CEO Ray last January, revealing the plans to repay the customers in full.The exchange was pushed to file for bankruptcy in November 2022 as it had an $8 billion hole in its books.The latest reorganization would also see the settlement of claims with regulators and government agencies. The Internal Revenue Service (IRS), which has a claim of $24 billion, would receive $200 million in cash payment and a $685 million subordinated claim, which it will receive after the payout to all creditors and other governmental entities.The Commodity Futures Trading Commission (CFTC) and other governmental claimants also agreed to subordinate their claims until the claim is paid to the FTX customers and other creditors.This article was written by Arnab Shome at www.financemagnates.com.
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OANDA, the online multi-asset trading service provider, has promoted Lucian Lauerman to Deputy Chief Operating Officer. Previously,Lauerman served as the Head of Digital Assets at the firm for more than two years. He joinedOANDA in 2019 as Head of Data Services.According to his LinkedIn profile, Lauerman has held keyroles in notable companies such as Saxo Bank, Lloyds Banking Group, and GLTrade. At Saxo Bank, he rose from the role of Head of API Business to GlobalHead of Electronic Distribution.Leadership Changes at OANDAIn February, Jessica Beckstead, the CEO of OANDA US,expanded her role as the Head of FX Data Services. With over 20 years ofexperience in the financial services industry, Beckstead has a wealth ofknowledge and leadership from previous key roles at FXCM. Her journeyin the financial services industry spans over two decades, including her tenureat FXCM, where she held various significant positions, including Managing Director & Global Head, CEO of FXCM Australia, and Managing Director of Emerging Markets.Commenting on her expanded responsibilities, Becksteadhighlighted the crucial role of data-driven insights in today's financialmarkets. She expressed enthusiasm about leading OANDA's FX Data Servicesdivision, emphasizing the company's commitment to delivering top-tier servicesglobally. Expanding OfferingsMeanwhile, OANDA recently ventured into proprietary trading with OANDA Labs Trader, Finance Magnates reported. The initiative aimsto empower traders, offering them the opportunity to earn up to 75% profitsthrough OANDA's Global Markets division in the British Virgin Islands. Tradersmust pass an assessment and adhere to regulatory standards, qualifying forfunding ranging from $25,000 to $500,000.OANDA's proprietary trading program presents challenges withprofit targets and loss limits, providing traders with a structured approach totrading while mitigating risks. By embracing proprietary trading, OANDA aims to empower traders with opportunities for growth while maintaining compliancewith regulatory standards.This article was written by Jared Kirui at www.financemagnates.com.
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Coincheck and Spacial Purpose Acquisition Company Thunder Bridge Capital Partners IV is progressing with their merger deal, which will enable the Japanese cryptocurrency exchange to list on Nasdaq. This action signifies a significant step for both companies and has implications for investors seeking exposure to the burgeoning cryptoindustry.Gateway to NasdaqCoincheck is a renowned digital asset exchange in Japan, with a market share of over 1.98 million accounts. Thunder Bridge Capital Partners IV is an SPAC that facilitates mergers and acquisitions within the finance sector. The proposed merger signifies Coincheck's ambition to expand its global footprint andgain access to the Nasdaq market. The combined entity, to be named Coincheck GroupN.V., is pending regulatory approvals and shareholders' consent.Last year, Coincheck's Nasdaq faced a hurdle after theparent company Monex Group announced a one-year delay in the cryptocurrencyexchange's public listing. The anticipated merger, originally scheduled forcompletion by July 2, 2023, was extended to July 2, 2024. Monex Group confirmed the delay, citing the approvalof an amendment to the SPAC's certificate of incorporation at a specialshareholders' meeting held on June 21, 2023. While the exact reasons behind the delay remainunclear, speculations emerged about potential setbacks pending shareholders'approval. This latest setback marked the second delay in Coincheck's journeytoward a Nasdaq listing.Coincheck IPO DelayedMonex announced its intentions to take Coincheckpublic in March of the previous year, entering an agreement valued atapproximately $1.25 billion with Thunder Bridge. Originally expected to debuton the Nasdaq in the latter half of 2021, unforeseen circumstances havecontinuously pushed the listing further, now scheduled for this year.Thunder Bridge is set to inject $237 million in cashinto the combined entity under the terms of the agreement. Additionally, GarySimanson, Thunder Bridge's President and CEO, will reportedly assume the roleof CEO in the merged organization. Monex will retain a significant majoritystake of 82% in the new entity and maintain its commitment to Coincheck's growthtrajectory amidst the challenges of the listing delay.This article was written by Jared Kirui at www.financemagnates.com.
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Liquidity provider and prime brokerage firm Finaltorecently released a guide to help brokerage firms navigate thecomplexity of marketing to retail investors while adhering to regulatorystandards. The guide emphasized the importance of striking a balance betweencatering to digitally savvy retail traders and maintaining relationships withtraditional institutional clients. Dubbed " The Finalto Broker Series," the guide delves into the complexitiesof marketing to a rapidly evolving audience of retail traders. According to thecompany, retail investor activity in 2021 accounted for nearly 25% of the totaltrading volume in the equities market. This surge in activity has reshapedthe trading landscape with the advent of digital platforms. It presentsopportunities and challenges for brokerage businesses.Engaging Retail and Institutional ClientsBy understanding the unique preferences and regulatoryrequirements of different demographics, brokers can design their marketingefforts to effectively communicate with diverse audiences. Additionally, Finalto highlightedthe significance of crafting cohesive brand identities that resonate with bothretail and institutional clients.Klelia Orphanidou, the B2B Head of RegulatoryCompliance at Finalto, mentioned: "Compliance in marketing isn't justabout ticking boxes and avoiding penalties. It's about building a culture ofresponsibility and fostering long-term relationships and brand loyalty."Last year, Finalto launched a new addition to itsBroker Series dubbed "The Liquidity Whitepaper." This document analyzes the intricacies of liquidity provision and offers insights for brokersand traders. At the heart of Finalto's liquidity guideline is bespokepricing. Chief Analyst Neil Wilson emphasized that liquidityprovision isn't a one-size-fits-all model. Instead, it prioritizes designing pricing to meet individual client needs while ensuring access to a diverse andsecure liquidity pool. By narrowing spreads and utilizing skewed price feeds,Finalto aims to provide optimal pricing that aligns with clients' tradingstrategies.Boosting Liquidity SolutionsIn March, Finalto Asia and oneZero Financial Systems strengthened their partnership to bolster liquidity solutions. This collaborationentails integrating the Equinix Tokyo data center into oneZero'sinfrastructure, thus expanding Finalto's liquidity offerings to traders inthe region.This collaboration grants Finalto access toover 250 brokers and banks within the oneZero EcoSystem. With the addition ofthe Equinix Tokyo data center, Finalto's Asia-Pacific clients can reportedly tap into a broader network of liquidity providers, thereby enhancing tradingopportunities and efficiency.oneZero's Institutional Hub is a trading solution for financial institutions and brokers. It facilitates access toliquidity across multiple asset classes and offers functionalities inaggregation, price formation, distribution, risk management, and creditmanagement, thereby enabling traders to access trading tools and analytics.This article was written by Jared Kirui at www.financemagnates.com.
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The once futuristicscene of robots managing our every need might still be confined to sciencefiction, but a corner of that vision is quietly unfolding in the utilitarianworld of self-checkout kiosks. Diebold Nixdorf, a tech giant with its fingersin ATMs and point-of-sale systems, <a href="https://investors.dieboldnixdorf.com/news-and-events/press-releases/news-details/2024/EDEKA-Jaeger-Introduces-AI-powered-Age-Verification-at-Self-Service-Checkouts/default.aspx">ispiloting a new AI-powered system</a> that promises to streamline the process ofbuying age-restricted items like alcohol at these unmanned stations.This innovation cutsthrough the familiar tedium of self-checkout and having to awkwardlywave an ID at a harried store employee hovering nearby. Instead, the newsystem employs facial recognition technology – or, more accurately, asophisticated cousin – to analyze a customer's face and estimate their age. Ifthe AI deems you worthy (read: old enough), the purchase sails through.But before you startpicturing Big Brother scanning your grocery haul, Diebold Nixdorf assures usthis technology treads lightly on privacy concerns. They claim the systemdoesn't employ true facial recognition, which would involve creating a digitalmap of your unique facial features. Instead, it uses a "smart-vision"system that analyzes broad characteristics to make an age guess. Additionally,the company assures us no customer data is stored – the age estimation happensin real-time and disappears into the digital ether once complete.While the efficiencygains are undeniable, this foray into AI-powered age verification raises a hostof intriguing questions. The first, and perhapsmost pressing, is one of accuracy. How well can a machine, trained onwho-knows-what dataset of faces, truly discern a 20-year-old from a25-year-old?Consider the gremlinsthat already plague facial recognition software – its notorious bias againstpeople of color and certain ethnicities. Could a similar bias creep into thisage-guessing algorithm? A young woman with flawless skin might be mistaken fora teenager, while a man with a weathered face could be flagged for a secondlook by the AI bouncer.The potential for sucherrors, particularly when dealing with a product as age-restricted as alcohol,is a concern. Imagine the frustration of being denied a bottle of celebratorychampagne because a machine thinks you haven't reached the legal drinking age.The convenience factor of self-checkout could quickly turn into a source ofembarrassment and inconvenience.Then there's thequestion of trust. While Diebold Nixdorf assures us their system prioritizesprivacy, the very act of surrendering your face to an algorithm for ageverification feels like a new frontier in data collection. Even if the companyclaims they aren't storing the information, the precedent it sets is a slipperyslope. Will this technology pave the way for even more intrusive data gatheringin the future?Thispush towards facial analysis for age verification at self-checkout kiosksthrows biometrics, the science of using unique physical characteristics foridentification, into sharp relief. The potential benefitsof this technology are clear. Faster checkouts, reduced reliance on overworkedstore staff, and a smoother shopping experience are all attractivepropositions. But these advantages must be weighed against the potentialpitfalls – the accuracy concerns, the privacy questions, and the slippery slopeof data collection.So,while the convenience of a quick scan is undeniable, biometrics raise a host ofphilosophical and ethical questions that extend far beyond the self-checkoutaisle.One of the most concerningaspects <a href="https://www.financemagnates.com/fintech/payments/the-payment-panopticon-when-your-palm-becomes-the-price-tag/">is the potential for a "surveillance creep."</a> As biometrictechnology becomes more sophisticated and readily available, the lines betweenidentification and constant monitoring blur. Imagine a world where facialrecognition software not only verifies your…
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With just weeks to go before the US moves to the T+1 securities settlement, market participants should be carefully assessing their capacity to fund securities settlements with a related FX trade.It has been almost a year since the FX division of the Global Financial Markets Association stated in a report entitled "FX Considerations for T+1 US Securities Settlement" that the switch to faster settlement raised the risk that transaction funding dependent on FX settlement might not occur in time based on the requirement for matching, confirmation, and payment of trades to be completed within local currency cut-off times.The Foreign Exchange Professionals Association published guidance late last year advocating for traders to conduct a full review of the implications of the new settlement timeframe, taking into account factors such as trading relationships, credit and operational processes, and funding.Preparing for T+1 Securities Settlement"Institutions should automate as much of the workflow as possible and be prepared to make changes to their current workflow,” suggested Tara Taylor, the Head of North America StreetFX Pricing Services, who said simultaneous <a href="https://www.financemagnates.com/terms/e/execution/">execution</a> of <a href="https://www.financemagnates.com/tag/equity/">equity</a> and currency trades depends on workflow, technology, and the internal trade execution and operation function set-up.She said workflow evaluation should consider where equity and FX execution is taking place and whether it is done through a centralized team or across multiple locations."An automated solution with consistent workflow for all activity allows managers to choose their execution times to allow better alignment with security execution, and because the spread is pre-negotiated, there is consistency in pricing and cost transparency," added Taylor.Scott Gold, the Head of Sales for Americas at BidFX, agreed that clients need technology and execution management platforms that are built to handle rapid decision-making and execution. He added that automation is becoming common practice to capture favorable pricing opportunities while mitigating risk.Managers will need to carefully think about the trade-related FX element of the investment decision because FX <a href="https://www.financemagnates.com/tag/liquidity/">liquidity</a> dries up on a Friday afternoon in USD versus all currencies, and then the dollar market closes for the US weekend. This is particularly acute - and needs careful planning - when a US public holiday falls on a Monday.Overcoming Trade-Related FX Risks"In our view, it is possible to address many of the risks of the trade-related FX issue, but there is no ready-made solution for sourcing FX in a closed market," said Gerard Walsh, the Global Head of Capital Markets Client Solutions at Northern Trust. "Managers will need to know and understand the sources, availability of, and cost of any <a href="https://www.financemagnates.com/terms/l/liquidity/">liquidity</a> solutions (overdrafts, use of derivatives, other cash-like instruments) they intend to use."He suggested that the key to the simultaneous execution of equity and currency trades is working with as few actors as possible and only with those who have embedded high levels of automation into the full lifecycle of the trade.Katie Renouf, the Senior Vice President of Mesirow's Global Investment Management distribution team, noted that a huge volume of trades are currently settled via CLS, but its current cut-off times will not work for the shift to T+1.Earlier this month, CLS confirmed that it would not make any operational changes to its settlement ahead of T+1 implementation in the US."Settling trades outside of CLS not only heightens settlement risk but potentially has a knock-on impact on bank credit lines,” says Renouf, who says some clients are considering opening spot desks in <a href="https://www.financemagnates.com/tag/north-america/">North America</a>.She observed that simultaneous execution of equity…
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Jeffrey Navarro has joined AvaTrade as Regional Manager for LATAM, nearly a month after exiting Taurex, where he served as Head of LATAM. Navarro is an experienced forex industry expert, having previously worked at Tickmill as Regional Manager of LATAM and Spain. He has also worked for AxiCorp and Forex Capital Markets.From Taurex to AvaTradeSpeaking about his appointment on LinkedIn, Navarro mentioned: "I’m excited to share that I’m starting a new position as Regional Manager LATAM at AvaTrade!" According to his LinkedIn profile, Navarro holds a Bachelor of Business Administration, Finance, and Investments from Baruch College.Last month, Navarro announced his departure from Taurex after more than two years of steering its operations in Latin America.Navarro's exit came at a pivotal moment for Taurex, following significantmilestones in both its leadership and financial performance."Today marks my last day at Taurex. I will now beanother member of the company's worldwide fans cheering from afar. Many thanksto my good friend Nick Cooke for entrusting me with so many important companymatters. Huge thanks to the rest of the company and especially to the TaurexLATAM team, which today stands strong and is one of the best in the region.Forever grateful for being part of this amazing journey!" Navarro mentioned.Shift in Leadership DynamicsTaking to LinkedIn to share the news, Navarroexpressed gratitude towards his colleagues and the company, signaling his movetowards a new professional journey. His departure from Taurex signifies a shiftin leadership dynamics within the company and prompts reflection on hiscontributions to its LATAM operations.Meanwhile, Taurex, formerly known as Zenfinex, underwent a significant transformation last year, rebranding its retail arm and closing asubstantial $15 million Series B funding round. With plans to enhance itsproprietary technology, including the development of a mobile app and webplatform scheduled for release in 2024, Taurex aims to solidify its position inboth B2C and B2B markets.This article was written by Jared Kirui at www.financemagnates.com.
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The Finance Magnates Africa Summit (FMAS:24) will be here in less than two weeks. Ahead of the event, FM spoke with Alex Stefanidis, Senior Business Development Executive at <a href="https://www.hfeu.com/en/">HF Markets</a>. In this full length interview he gives his take on the upcoming event as well as the current playing field in Africa and HF Markets’ prospects in the region. Are you excited for FMAS:24 and how do you feel your company can directly benefit from attending an event such as this in Africa?As a Representative of HFM in South Africa, I am incredibly excited for FMAS:24. This event presents a unique opportunity for our company to connect with industry leaders, traders, and partners in the African market. We believe that attending an event of this caliber allows us to showcase our commitment to empowering traders, offering innovative solutions, and providing unparalleled support to our clients. By participating in FMAS:24, we aim to strengthen our presence in Africa, forge new partnerships, and explore growth opportunities in the region.FMAS is returning to Sandton City for its second year. What are you hoping to see or get out of this year’s event?FMAS returning to Sandton City for its second year is a testament to the success and significance of this event. This year, we are eager to build upon the momentum of our participation in FMAS:23 and further solidify our position as a leading broker in the African market. We anticipate engaging with a diverse range of participants, attending insightful sessions, and fostering meaningful connections that drive mutual success. We look forward to leveraging the platform provided by FMAS:24 to showcase our latest offerings, share industry insights, and demonstrate our commitment to excellence in the financial services sector.Many brokers and brands have made the move to Africa amid the continent’s hype, size, and overall potential. Does this perspective align with your company’s goals in 2024 or beyond and is this excitement warranted? At HFM, we recognise the immense potential and growth opportunities that the African market presents. As part of our long-term strategy, expanding our presence in Africa aligns perfectly with our company's goals for 2024 and beyond. We are committed to serving the needs of traders across the continent by offering cutting-edge technology, comprehensive education, and personalised support. The excitement surrounding Africa's growth trajectory is indeed warranted, and we are enthusiastic about contributing to and benefiting from this dynamic market landscape.FMAS:24 will be drawing the biggest brands as well as regional and local providers across multiple industries. How does your company plan to stand out in the crowd this year?To stand out in the crowd at FMAS:24, HFM plans to leverage our unique strengths and value propositions. We differentiate ourselves through our unwavering commitment to exceptional customer service, comprehensive education, and our client-centric approach. Our goal is to showcase our innovative trading tools, highlight our dedication to empowering traders to have a profitable trading journey, and demonstrate our ability to deliver results. Through engaging presentations, interactive demonstrations, and personalised interactions, we aim to leave a lasting impression and solidify our position as a trusted partner in the financial services industry. In addition, we have a few very special surprises, gifts and business opportunities to participants of FMAS:24 that will visit us on our booth (booth 28)! The retail industry continues to see sweeping changes, necessitating different strategies to chart a course forward. Given this uncertainty, how is your company built to navigate any industry headwinds in 2024 or what techniques do you feel are the most important looking ahead?The retail industry is indeed experiencing significant changes, and adaptability is key to navigating these challenges. At HFM, we are well-equipped to navigate industry headwinds by staying agile…
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The digital era has transformed many aspects of our lives, including how we manage our finances. Online loans have emerged as a convenient alternative to traditional banking, offering quick access to funds with minimal hassle. This article delves into the nuances of online loans, helping you understand what they are, how they work, and what to consider before applying for one.Understanding Online LoansOnline loans are financial transactions that are initiated and completed over the internet. These loans are provided by various lenders, including traditional banks, credit unions, and exclusively online entities. The primary allure of online loans is convenience; applicants can complete the entire loan process—from application to disbursement—without ever visiting a bank branch.These loans can be used for a variety of purposes, such as debt consolidation, home improvement, or emergency expenses. They often come in different forms, including personal loans, payday loans, and lines of credit, each with its own set of terms and conditions.The Application Process and RequirementsApplying for an online loan is typically straightforward. The first step is to find a reputable lender. Once a suitable lender is identified, the next step involves filling out an online application form. This form requires basic personal and financial information, such as your name, address, income, and employment details.Most online lenders also require proof of identity, income, and bank account details. Some may conduct a credit check to assess your creditworthiness. The better your credit score, the more favorable the loan terms you might receive.Advantages of Online LoansOne of the biggest advantages of online loans is the speed of processing. Many online lenders offer quick approvals and can deposit funds into your account within a day or two. This is particularly beneficial inemergency situations where immediate access to money is crucial.Moreover, online loans are often more accessible to people with less-than-perfect credit. Some online lenders specialize in bad credit loans, offering financing options that might not be available through traditional banks.MoneyKey Features of Online LoansOne of the most appealing features of online loans is their accessibility. Lenders like MoneyKey offer services directly through their websites, enabling you to apply from the comfort of your home at any time. Another significant advantage is speed. Many online loan applications can be completed in minutes, and if approved, funds may be deposited into your bank account as quickly as the next business day. This efficiency is particularly crucial in emergencies where immediate access to funds can be a lifesaver.Conclusion: Is an Online Loan Right for You?Online loans offer a convenient and accessible means to obtain financial assistance. However, they are not without risks. It's essential to understand the terms and conditions, as well as any associated fees, before committing to an online loan. Always ensure that you can comfortably meet the repayment terms without compromising your financial health.By being well-informed and cautious, you can make the most of the benefits that online loans have to offer, while avoiding potential pitfalls. Whether for an urgent financial need or a planned expense, online loans can be a valuable financial tool if used wisely.This article was written by FM Contributors at www.financemagnates.com.
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Coincheck and Spacial Purpose Acquisition Company Thunder Bridge Capital Partners IV is progressing with their merger deal, which will enable the Japanese cryptocurrency exchange to list on Nasdaq. This action signifies a significant step for both companies and has implications for investors seeking exposure to the burgeoning cryptoindustry.Gateway to NasdaqCoincheck is a renowned digital asset exchange in Japan, with a market share of over 1.98 million accounts. Thunder Bridge Capital Partners IV is an SPAC that facilitates mergers and acquisitions within the finance sector. The proposed merger signifies Coincheck's ambition to expand its global footprint andgain access to the Nasdaq market. The combined entity, to be named Coincheck GroupN.V., is pending regulatory approvals and shareholders' consent.Last year, Coincheck's Nasdaq faced a hurdle after theparent company Monex Group announced a one-year delay in the cryptocurrencyexchange's public listing. The anticipated merger, originally scheduled forcompletion by July 2, 2023, was extended to July 2, 2024. Monex Group confirmed the delay, citing the approvalof an amendment to the SPAC's certificate of incorporation at a specialshareholders' meeting held on June 21, 2023. While the exact reasons behind the delay remainunclear, speculations emerged about potential setbacks pending shareholders'approval. This latest setback marked the second delay in Coincheck's journeytoward a Nasdaq listing.Coincheck IPO DelayedMonex announced its intentions to take Coincheckpublic in March of the previous year, entering an agreement valued atapproximately $1.25 billion with Thunder Bridge. Originally expected to debuton the Nasdaq in the latter half of 2021, unforeseen circumstances havecontinuously pushed the listing further, now scheduled for this year.Thunder Bridge is set to inject $237 million in cashinto the combined entity under the terms of the agreement. Additionally, GarySimanson, Thunder Bridge's President and CEO, will reportedly assume the roleof CEO in the merged organization. Monex will retain a significant majoritystake of 82% in the new entity and maintain its commitment to Coincheck's growthtrajectory amidst the challenges of the listing delay.This article was written by Jared Kirui at www.financemagnates.com.
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Liquidity provider and prime brokerage firm Finaltorecently released a guide to help brokerage firms navigate thecomplexity of marketing to retail investors while adhering to regulatorystandards. The guide emphasized the importance of striking a balance betweencatering to digitally savvy retail traders and maintaining relationships withtraditional institutional clients. Dubbed " The Finalto Broker Series," the guide delves into the complexitiesof marketing to a rapidly evolving audience of retail traders. According to thecompany, retail investor activity in 2021 accounted for nearly 25% of the totaltrading volume in the equities market. This surge in activity has reshapedthe trading landscape with the advent of digital platforms. It presentsopportunities and challenges for brokerage businesses.Engaging Retail and Institutional ClientsBy understanding the unique preferences and regulatoryrequirements of different demographics, brokers can design their marketingefforts to effectively communicate with diverse audiences. Additionally, Finalto highlightedthe significance of crafting cohesive brand identities that resonate with bothretail and institutional clients.Klelia Orphanidou, the B2B Head of RegulatoryCompliance at Finalto, mentioned: "Compliance in marketing isn't justabout ticking boxes and avoiding penalties. It's about building a culture ofresponsibility and fostering long-term relationships and brand loyalty."Last year, Finalto launched a new addition to itsBroker Series dubbed "The Liquidity Whitepaper." This document analyzes the intricacies of liquidity provision and offers insights for brokersand traders. At the heart of Finalto's liquidity guideline is bespokepricing. Chief Analyst Neil Wilson emphasized that liquidityprovision isn't a one-size-fits-all model. Instead, it prioritizes designing pricing to meet individual client needs while ensuring access to a diverse andsecure liquidity pool. By narrowing spreads and utilizing skewed price feeds,Finalto aims to provide optimal pricing that aligns with clients' tradingstrategies.Boosting Liquidity SolutionsIn March, Finalto Asia and oneZero Financial Systems strengthened their partnership to bolster liquidity solutions. This collaborationentails integrating the Equinix Tokyo data center into oneZero'sinfrastructure, thus expanding Finalto's liquidity offerings to traders inthe region.This collaboration grants Finalto access toover 250 brokers and banks within the oneZero EcoSystem. With the addition ofthe Equinix Tokyo data center, Finalto's Asia-Pacific clients can reportedly tap into a broader network of liquidity providers, thereby enhancing tradingopportunities and efficiency.oneZero's Institutional Hub is a trading solution for financial institutions and brokers. It facilitates access toliquidity across multiple asset classes and offers functionalities inaggregation, price formation, distribution, risk management, and creditmanagement, thereby enabling traders to access trading tools and analytics.This article was written by Jared Kirui at www.financemagnates.com.
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The once futuristicscene of robots managing our every need might still be confined to sciencefiction, but a corner of that vision is quietly unfolding in the utilitarianworld of self-checkout kiosks. Diebold Nixdorf, a tech giant with its fingersin ATMs and point-of-sale systems, <a href="https://investors.dieboldnixdorf.com/news-and-events/press-releases/news-details/2024/EDEKA-Jaeger-Introduces-AI-powered-Age-Verification-at-Self-Service-Checkouts/default.aspx">ispiloting a new AI-powered system</a> that promises to streamline the process ofbuying age-restricted items like alcohol at these unmanned stations.This innovation cutsthrough the familiar tedium of self-checkout and having to awkwardlywave an ID at a harried store employee hovering nearby. Instead, the newsystem employs facial recognition technology – or, more accurately, asophisticated cousin – to analyze a customer's face and estimate their age. Ifthe AI deems you worthy (read: old enough), the purchase sails through.But before you startpicturing Big Brother scanning your grocery haul, Diebold Nixdorf assures usthis technology treads lightly on privacy concerns. They claim the systemdoesn't employ true facial recognition, which would involve creating a digitalmap of your unique facial features. Instead, it uses a "smart-vision"system that analyzes broad characteristics to make an age guess. Additionally,the company assures us no customer data is stored – the age estimation happensin real-time and disappears into the digital ether once complete.While the efficiencygains are undeniable, this foray into AI-powered age verification raises a hostof intriguing questions. The first, and perhapsmost pressing, is one of accuracy. How well can a machine, trained onwho-knows-what dataset of faces, truly discern a 20-year-old from a25-year-old?Consider the gremlinsthat already plague facial recognition software – its notorious bias againstpeople of color and certain ethnicities. Could a similar bias creep into thisage-guessing algorithm? A young woman with flawless skin might be mistaken fora teenager, while a man with a weathered face could be flagged for a secondlook by the AI bouncer.The potential for sucherrors, particularly when dealing with a product as age-restricted as alcohol,is a concern. Imagine the frustration of being denied a bottle of celebratorychampagne because a machine thinks you haven't reached the legal drinking age.The convenience factor of self-checkout could quickly turn into a source ofembarrassment and inconvenience.Then there's thequestion of trust. While Diebold Nixdorf assures us their system prioritizesprivacy, the very act of surrendering your face to an algorithm for ageverification feels like a new frontier in data collection. Even if the companyclaims they aren't storing the information, the precedent it sets is a slipperyslope. Will this technology pave the way for even more intrusive data gatheringin the future?Thispush towards facial analysis for age verification at self-checkout kiosksthrows biometrics, the science of using unique physical characteristics foridentification, into sharp relief. The potential benefitsof this technology are clear. Faster checkouts, reduced reliance on overworkedstore staff, and a smoother shopping experience are all attractivepropositions. But these advantages must be weighed against the potentialpitfalls – the accuracy concerns, the privacy questions, and the slippery slopeof data collection.So,while the convenience of a quick scan is undeniable, biometrics raise a host ofphilosophical and ethical questions that extend far beyond the self-checkoutaisle.One of the most concerningaspects <a href="https://www.financemagnates.com/fintech/payments/the-payment-panopticon-when-your-palm-becomes-the-price-tag/">is the potential for a "surveillance creep."</a> As biometrictechnology becomes more sophisticated and readily available, the lines betweenidentification and constant monitoring blur. Imagine a world where facialrecognition software not only verifies your…
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With just weeks to go before the US moves to the T+1 securities settlement, market participants should be carefully assessing their capacity to fund securities settlements with a related FX trade.It has been almost a year since the FX division of the Global Financial Markets Association stated in a report entitled "FX Considerations for T+1 US Securities Settlement" that the switch to faster settlement raised the risk that transaction funding dependent on FX settlement might not occur in time based on the requirement for matching, confirmation, and payment of trades to be completed within local currency cut-off times.The Foreign Exchange Professionals Association published guidance late last year advocating for traders to conduct a full review of the implications of the new settlement timeframe, taking into account factors such as trading relationships, credit and operational processes, and funding.Preparing for T+1 Securities Settlement"Institutions should automate as much of the workflow as possible and be prepared to make changes to their current workflow,” suggested Tara Taylor, the Head of North America StreetFX Pricing Services, who said simultaneous <a href="https://www.financemagnates.com/terms/e/execution/">execution</a> of <a href="https://www.financemagnates.com/tag/equity/">equity</a> and currency trades depends on workflow, technology, and the internal trade execution and operation function set-up.She said workflow evaluation should consider where equity and FX execution is taking place and whether it is done through a centralized team or across multiple locations."An automated solution with consistent workflow for all activity allows managers to choose their execution times to allow better alignment with security execution, and because the spread is pre-negotiated, there is consistency in pricing and cost transparency," added Taylor.Scott Gold, the Head of Sales for Americas at BidFX, agreed that clients need technology and execution management platforms that are built to handle rapid decision-making and execution. He added that automation is becoming common practice to capture favorable pricing opportunities while mitigating risk.Managers will need to carefully think about the trade-related FX element of the investment decision because FX <a href="https://www.financemagnates.com/tag/liquidity/">liquidity</a> dries up on a Friday afternoon in USD versus all currencies, and then the dollar market closes for the US weekend. This is particularly acute - and needs careful planning - when a US public holiday falls on a Monday.Overcoming Trade-Related FX Risks"In our view, it is possible to address many of the risks of the trade-related FX issue, but there is no ready-made solution for sourcing FX in a closed market," said Gerard Walsh, the Global Head of Capital Markets Client Solutions at Northern Trust. "Managers will need to know and understand the sources, availability of, and cost of any <a href="https://www.financemagnates.com/terms/l/liquidity/">liquidity</a> solutions (overdrafts, use of derivatives, other cash-like instruments) they intend to use."He suggested that the key to the simultaneous execution of equity and currency trades is working with as few actors as possible and only with those who have embedded high levels of automation into the full lifecycle of the trade.Katie Renouf, the Senior Vice President of Mesirow's Global Investment Management distribution team, noted that a huge volume of trades are currently settled via CLS, but its current cut-off times will not work for the shift to T+1.Earlier this month, CLS confirmed that it would not make any operational changes to its settlement ahead of T+1 implementation in the US."Settling trades outside of CLS not only heightens settlement risk but potentially has a knock-on impact on bank credit lines,” says Renouf, who says some clients are considering opening spot desks in <a href="https://www.financemagnates.com/tag/north-america/">North America</a>.She observed that simultaneous execution of equity…
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Jeffrey Navarro has joined AvaTrade as Regional Manager for LATAM, nearly a month after exiting Taurex, where he served as Head of LATAM. Navarro is an experienced forex industry expert, having previously worked at Tickmill as Regional Manager of LATAM and Spain. He has also worked for AxiCorp and Forex Capital Markets.From Taurex to AvaTradeSpeaking about his appointment on LinkedIn, Navarro mentioned: "I’m excited to share that I’m starting a new position as Regional Manager LATAM at AvaTrade!" According to his LinkedIn profile, Navarro holds a Bachelor of Business Administration, Finance, and Investments from Baruch College.Last month, Navarro announced his departure from Taurex after more than two years of steering its operations in Latin America.Navarro's exit came at a pivotal moment for Taurex, following significantmilestones in both its leadership and financial performance."Today marks my last day at Taurex. I will now beanother member of the company's worldwide fans cheering from afar. Many thanksto my good friend Nick Cooke for entrusting me with so many important companymatters. Huge thanks to the rest of the company and especially to the TaurexLATAM team, which today stands strong and is one of the best in the region.Forever grateful for being part of this amazing journey!" Navarro mentioned.Shift in Leadership DynamicsTaking to LinkedIn to share the news, Navarroexpressed gratitude towards his colleagues and the company, signaling his movetowards a new professional journey. His departure from Taurex signifies a shiftin leadership dynamics within the company and prompts reflection on hiscontributions to its LATAM operations.Meanwhile, Taurex, formerly known as Zenfinex, underwent a significant transformation last year, rebranding its retail arm and closing asubstantial $15 million Series B funding round. With plans to enhance itsproprietary technology, including the development of a mobile app and webplatform scheduled for release in 2024, Taurex aims to solidify its position inboth B2C and B2B markets.This article was written by Jared Kirui at www.financemagnates.com.
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The Finance Magnates Africa Summit (FMAS:24) will be here in less than two weeks. Ahead of the event, FM spoke with Alex Stefanidis, Senior Business Development Executive at <a href="https://www.hfeu.com/en/">HF Markets</a>. In this full length interview he gives his take on the upcoming event as well as the current playing field in Africa and HF Markets’ prospects in the region. Are you excited for FMAS:24 and how do you feel your company can directly benefit from attending an event such as this in Africa?As a Representative of HFM in South Africa, I am incredibly excited for FMAS:24. This event presents a unique opportunity for our company to connect with industry leaders, traders, and partners in the African market. We believe that attending an event of this caliber allows us to showcase our commitment to empowering traders, offering innovative solutions, and providing unparalleled support to our clients. By participating in FMAS:24, we aim to strengthen our presence in Africa, forge new partnerships, and explore growth opportunities in the region.FMAS is returning to Sandton City for its second year. What are you hoping to see or get out of this year’s event?FMAS returning to Sandton City for its second year is a testament to the success and significance of this event. This year, we are eager to build upon the momentum of our participation in FMAS:23 and further solidify our position as a leading broker in the African market. We anticipate engaging with a diverse range of participants, attending insightful sessions, and fostering meaningful connections that drive mutual success. We look forward to leveraging the platform provided by FMAS:24 to showcase our latest offerings, share industry insights, and demonstrate our commitment to excellence in the financial services sector.Many brokers and brands have made the move to Africa amid the continent’s hype, size, and overall potential. Does this perspective align with your company’s goals in 2024 or beyond and is this excitement warranted? At HFM, we recognise the immense potential and growth opportunities that the African market presents. As part of our long-term strategy, expanding our presence in Africa aligns perfectly with our company's goals for 2024 and beyond. We are committed to serving the needs of traders across the continent by offering cutting-edge technology, comprehensive education, and personalised support. The excitement surrounding Africa's growth trajectory is indeed warranted, and we are enthusiastic about contributing to and benefiting from this dynamic market landscape.FMAS:24 will be drawing the biggest brands as well as regional and local providers across multiple industries. How does your company plan to stand out in the crowd this year?To stand out in the crowd at FMAS:24, HFM plans to leverage our unique strengths and value propositions. We differentiate ourselves through our unwavering commitment to exceptional customer service, comprehensive education, and our client-centric approach. Our goal is to showcase our innovative trading tools, highlight our dedication to empowering traders to have a profitable trading journey, and demonstrate our ability to deliver results. Through engaging presentations, interactive demonstrations, and personalised interactions, we aim to leave a lasting impression and solidify our position as a trusted partner in the financial services industry. In addition, we have a few very special surprises, gifts and business opportunities to participants of FMAS:24 that will visit us on our booth (booth 28)! The retail industry continues to see sweeping changes, necessitating different strategies to chart a course forward. Given this uncertainty, how is your company built to navigate any industry headwinds in 2024 or what techniques do you feel are the most important looking ahead?The retail industry is indeed experiencing significant changes, and adaptability is key to navigating these challenges. At HFM, we are well-equipped to navigate industry headwinds by staying agile…
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