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"The business models used by firms engaged in prop trading (technically funded trader services) can take various forms, some of which may be subject to the MiFID regulatory framework,” the Czech National Bank told Finance Magnates exclusively. In this context, It's worth mentioning that one of the top prop trading companies, FTMO, is domiciled in the Czech Republic.“In those scenarios", added the regulator, "we believe that the relevant MiFID services could be: reception and transmission of orders in relation to one or more financial instruments; execution of orders on behalf of clients; or dealing on own account.” The regulator added that, “however, in other cases, the exemptions from MiFID apply, and in such cases, the prop trading entity is not subject to the supervision of the Czech National Bank and does not need to be supervised. Also, should there be a suspicion of fraud, we stress that such conduct would be subject to criminal law.”The Czech National Bank has confirmed to Finance Magnates that it has “taken notice of the prop trading industry,” adding that it is “well aware of the existence and occurrence of the prop trading phenomenon” and the "the potential need for new regulation in this area should be assessed on the EU level." The response from the Czech National Bank came amid Finance Magnates revealed that the European Securities and Markets Authority (ESMA) <a href="https://www.financemagnates.com/forex/exclusive-regulators-conducted-preliminary-reviews-on-potential-prop-trading-regulations/">ran an initial check on such prop trading firms</a> and discussed potential regulations. Also, according to Muinmos’ founder and CEO, Remonda Kirketerp-Møller, “regulators have been conducting studies, gathering data, and engaging in consultations with industry participants to better understand the nature and implications of prop trading.”However, none of the top regulators have confirmed their move towards bringing prop trading regulations, making the Czech National Bank the first one in the EU to come up with a comment on prop trading regulations.Finance Magnates also talked to several industry experts and stakeholders in prop trading. Interestingly, their views varied drastically.No Regulations to Same Rules as FX/CFDs"Prop firms should be subject to the same rules and scrutiny that FX/CFD brokers are subject to," Greg Rubin, Head of Axi Select, told Finance Magnates. Meanwhile, <a href="https://www.financemagnates.com/forex/exclusive-prop-trading-firm-ftmo-to-become-a-broker-hires-michael-kamerman/">FTMO’s</a> General Counsel, Matus Tutko, does not think regulations are “necessary [as] the current regulatory environment is robust enough.” Both brands offer prop trading services.Notably, by “current regulatory environment,” Tutko is pointing at generic business rules like “laws such as consumer protection rules, data protection rules, rules on international sanctions.”“I truly believe that there is a good argument why the modern prop trading industry should not be regulated by any specific regulation,” Tutko said, adding that “clients are only trading on demo accounts and are never depositing any money for actual trading and therefore they are not facing any risk of losing them.” However, he is in favour of “self-regulation [that] would help steer compliance practices and hence increase the trust of clients.”Axi’s Rubin, who is on the other extreme, detailed that “prop firms are ultimately servicing retail traders who are placing trades with the ambition of profiting. I don’t see how this is any different from the standard FX/CFD industry, which, of course, we know is heavily regulated.”“It seems the main reason the industry has managed to avoid regulations so far is due to the technicalities of using <a href="https://www.financemagnates.com/forex/beginning-of-the-end-axi-predicts-collapse-of-demo-prop-trading-model/">demo accounts instead of live trading accounts</a>, meaning it is virtual without any ‘real trading’ or financial transaction taking place,” Ruben added.…
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ADSS has announced that clients can now trade stocks listedon the Abu Dhabi Securities Exchange (ADX) through its flagship tradingplatform. This new feature allows investors to access and trade localstocks such as EAND, Aldar Properties, and AD Ports Group.Expanding Trading OptionsThe move aims to provide clients with unique tradingopportunities and broaden their access to the local market. ADSS now offerstrading in various sectors including finance, energy, materials, logistics,property, and telecom.ADSS is regulated by the Securities and CommoditiesAuthority (SCA) in the UAE, ensuring that client funds are subject to strictregulatory oversight. Additionally, fund transfers, withdrawals, and depositsare streamlined through UAEPGS in collaboration with the Central Bank of theUAE, providing security for UAE bank account holders.We're officially an ADX Trading Member! 🔔 As part of our commitment to provide our traders with new opportunities, we’re thrilled to offer them local stocks listed on the Abu Dhabi Securities Exchange. 👏 https://t.co/Lc6vcdYgmu— ADSS (@adssgroup) June 4, 2024Embracing Cloud TechnologyADSS has adopted cloud-based technologyfor its proprietary trading platform, partnering with Adaptive FinancialConsulting, as reported by FinanceMagnates. This move signifies a departure from traditional legacyinfrastructure in the financial sector. سوق أبوظبي للأوراق المالية يرحب بشركة “إي دي إس إس“ كأحدث عضو تداول في السوق يصل إجمالي عدد شركات الوساطة الأعضاء في سوق أبوظبي للأوراق المالية إلى 33 شركة #ADX Welcomes #ADSS as its newest market member. Bringing the total number of market members on ADX to 33.@adssgroup pic.twitter.com/Iix3LTTi4u— سوق أبوظبي للأوراق المالية (@ADX_AE) June 3, 2024Cloud-based infrastructure, provided by tech giants such asAmazon, Google, and Microsoft, offers flexibility and scalability, allowingseamless integration for brokers and vendors. Matt Barrett, CEO of AdaptiveFinancial Consulting, emphasizes the reliability and performance of cloudservices for retail brokers, highlighting the absence of latency issues andresource constraints.This article was written by Tareq Sikder at www.financemagnates.com.
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Citi, Deutsche Bank, Mastercard, Northern Trust and Centrifuge provide insights on paths to secure, multichain asset tokenization for report produced by Axelar Foundation and MetrikaA group of leading financial institutions and Web3 innovators have contributed to an in-depth paper on a path to achieve interoperability for tokenized assets across public blockchains, private blockchains, and legacy systems. Published today, “Institutional Interoperability: How Financial Institutions Navigate a Multichain World” addresses how to achieve increased accessibility and liquidity for tokenized assets, with flexibility, privacy, transparency and scalability.Tokenized assets are on-chain representations of financial assets such as real estate, currencies and securities. A recent report authored by Boston Consulting Group and market operator ADDX predicts multi-trillion-dollar value in tokenized assets within the decade. All institutions participating in the paper emphasized the need for interlinked network models that embrace multiple blockchains, as well as traditional systems, in order to realize this potential.Financial institutions Citi, Deutsche Bank, Mastercard and Northern Trust contributed insights to the paper in spotlight sections. Topics covered include descriptions of their projects in asset tokenization, points where they have implemented multiple blockchains, and potential requirements and challenges for blockchain interoperability. Web3-native innovators Axelar Foundation, Centrifuge and Metrika also contributed to the paper.The paper acts as a road map for financial institutions developing tokenized-asset opportunities and facing a complex array of blockchains public and private, alongside stringent requirements imposed by clients and regulations. It was authored by blockchain analyst Emily Parker, based on a framework laid by the Monetary Authority of Singapore’s Project Guardian in 2023. Contributors to the paper will be invited to discuss the paper’s findings in a panel event at Point Zero Forum in Zurich, July 1-3. “Tokenized assets are by design interoperable, bridging assets recorded on off-chain ledgers with on-chain representations,” said Georgios Vlachos, director of Axelar Foundation and co-founder of Axelar protocol. “The question isn’t, how do we facilitate one such connection – it’s how do we facilitate potentially thousands of connections across on-chain and off-chain ledgers, in a way that’s secure, scalable and open.” “Multichain asset interoperability and servicing will in all likelihood become a necessity for securities service providers as their clients adopt different chains,”said Anand Rengarajan, managing director, global head of sales & head of securities services APAC, Corporate Bank, Deutsche Bank. “It will be essential that asset servicers know how to address and service interoperability – between chains and with traditional processes – on a cost and risks-managed basis to enable sustainable growth that multiple chains can amplify.” “Northern Trust is preparing for significant growth in the share of its assets under custody that are tokenized on-chain,” said Alvin Chia, head of digital assets innovation for Asia Pacific at Northern Trust. “To provide the best services possible to our clients, we’ll need to participate actively in the blockchain ecosystem, connecting multiple blockchains with tailored approaches at multiple points.”“Asset tokenization brings major advantages in access and liquidity – and with a modular, multichain architecture, it can also do a great deal to improve visibility and on-chain utility,” said Bhaji Illuminati, CMO of Centrifuge. “This is Centrifuge’s path to enable flexibility and scalability in the rapidly evolving RWA ecosystem.”“Tokenized assets hold transformative potential for financial institutions, and interoperability in tandem with risk management is key to unlocking that potential,” said Nikos Andrikogiannopoulos, Founder and CEO of Metrika. “Effective risk management and ongoing surveillance ensure these…
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The relationship between traditional banks and the cryptocurrency industry has been, to put it mildly, strained. While Bitcoin continues to gain mainstream attention, many financial institutions remain hesitant to embrace this new asset class. To understand this dynamic, we spoke with Danny Scott, co-founder and CEO of CoinCorner, a Bitcoin exchange company at the forefront of this technological shift. Scott's early involvement in Bitcoin and debanking provides a unique perspective on both what it means to be an early BTC adopter and the friction between traditional financial systems and the rapidly expanding cryptocurrency market. CoinCorner wasn't just an early adopter of Bitcoin, they were pioneers. Scott himself began mining Bitcoin in 2013, a time when the fledgling cryptocurrency was still a fringe concept. This head start has allowed CoinCorner to witness the evolution of Bitcoin firsthand, and more importantly, to navigate the challenges and opportunities that come with being an early mover in such a fast-paced environment. On the Public Perception of Bitcoin2016: "<a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> is a joke"Same people2021: "Should I buy <a href="https://twitter.com/hashtag/Dogecoin?src=hash&ref_src=twsrc%5Etfw">#Dogecoin</a>?"— Danny Scott ⚡ (@CoinCornerDanny) <a href="https://twitter.com/CoinCornerDanny/status/1384387207654432768?ref_src=twsrc%5Etfw">April 20, 2021</a>When asked what the biggest hurdles preventing widespread public adoption of cryptocurrencies for everyday transactions were, Scott didn’t skip a beat. Education on crypto is lackluster.“One of the biggest challenges facing widespread Bitcoin adoption is the public perception of cryptocurrencies. Here, the issue is twofold. Meme tokens, with their wild price swings and often ludicrous purposes, create a sense of volatility and frivolity that overshadows the potential of serious projects like Bitcoin. Additionally, the technical aspects of cryptocurrency can be daunting for newcomers. The unfamiliar vocabulary and complex processes can create a barrier to entry, discouraging potential users who might otherwise be interested.”Scott acknowledges these hurdles. However, he argues that these are temporary obstacles that will be overcome with time and education.“A key factor in this education process will be a generational shift. Younger demographics, already comfortable with digital technology, are more likely to embrace cryptocurrencies. As this generation grows in influence, the overall perception of crypto is likely to improve.”But the challenges aren't limited to public perception. The traditional banking system itself presents a significant hurdle.On Crypto Education, Risk Aversion, and Getting Debanked“Many banks remain wary of crypto due to a fundamental lack of understanding. Just as some early internet entrepreneurs faced resistance from established businesses, cryptocurrency companies today encounter similar skepticism from the financial world. This lack of education often manifests as risk aversion. Banks, naturally cautious institutions, are hesitant to embrace something they don't fully comprehend and will only do so when they find it to be compatible with their business model.”This risk aversion can even manifest in what's known as debanking. De-banking is the closure of a customer's bank account by a bank that perceives the customer to be a financial, legal, regulatory, or reputational risk. Scott himself experienced this firsthand in 2016 when his own bank account was closed simply because he was associated with a Bitcoin exchange. The good news, according to Scott, is that “this resistance is likely to soften in the face of growing public interest and potential financial benefits. As Bitcoin adoption increases, banks will eventually realize that they can't afford to ignore this new asset class.”“There's simply too much potential value at stake.”CoinCorner, for example, is already demonstrating the ways in which banks and crypto companies…
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CentFx, an established online broker, has added another prestigious industry title to its collection, after receiving the highly-coveted “Best Online Trading Services” award at the BrokersView Expo 2024 which took place on 16-17 April. Company representatives claimed the prize in a special ceremony held at the Conrad in Dubai.It represents the latest in a long line of honours bestowed upon the company since its foundation in 2022, reinforcing its reputation as an award-winning, multi-regulated broker, while also demonstrating an unwavering commitment to the principles of trust, quality and reliability.As a leading international brokerage firm, CentFx provides high-quality services to clients all around the world, offering an excellent range of account types and wide selection of tradable assets, with 24/5 multilingual support and highly-competitive forex and CFD trading conditions.Fully licenced and regulated by the Financial Services Commission (FSC) in Mauritius, the company has already amassed more than 18 industry awards to date, in recognition of its exceptional product offerings, which also includes a multi-level affiliate program.Trusted by Traders Worldwide Since 2022Since its inception, CentFx has rapidly emerged as a frontrunner in the online trading sector, setting out with a clear vision to create a robust and intelligent trading platform. A key element of this is empowering traders to enjoy an enhanced experience while trading the global markets. In 2022, the broker launched its initial trading platform, offering a diverse range of financial instruments, including currencies, commodities, indices, and metals. By 2023, the company had expanded its global reach, incorporating multilingual support and introducing a swap-free trading feature catering specifically to Muslim clients. Last year also saw CentFx achieve exponential growth, with the company boasting around 23,600 active traders and 5,800 Introducing Brokers (IBs) on its books, alongside an impressive average monthly transaction volume of $9.6 million. This unprecedented expansion serves to highlight the top-notch trading solutions and exceptional customer service already on offer. A Truly Innovative Global BrokerCentral to CentFx's success is its devotion to providing true innovation and client satisfaction, with the company implementing a host of key features to offer added value to all its clients, including copy trading capabilities, expert webinars, and risk-free trading on a demo account.Looking ahead, the broker is planning to further bolster its trading platform suite by adding MetaTrader 4 (MT4), which is set to be launched in the near future, complementing MetaTrader 5 (MT5) which is already accessible to CentFx clients. There are also exciting plans to expand its asset lineup to include cryptocurrencies - on top of the 400+ trading instruments already provided - offering clients even greater trading choice. The company also intends to strengthen its educational initiatives to continue empowering traders, which aligns with its goal of maintaining industry leadership and delivering award-winning services.A Testament to ExcellenceCentFx's path to its latest award at the BrokersView Expo 2024 has been a story of multiple successes, characterised by its complete dedication to innovation and excellence. As the company looks to the future, it remains fully focused on delivering cutting-edge trading solutions and exceptional services to traders worldwide.To find out more about trading with CentFx, please click here.This article was written by FM Contributors at www.financemagnates.com.
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HashKey Global May 2024 Monthly Report released, the daily trading volume reached 348 million USD, representing a month-over-month increase of 173%. Launchpool's first-phase yield rate was as high as 37.68%, which made a notable impact on the market.Launchpool Introduces High APR to the MarketThe first Launchpool surprised the market with a high APR, attracting over 2,157 users who locked assets on the first day. The total amount pledged reached USD 109 million, with an APR of 37.68% during the first settlement period. The highest single-user earnings were 6,500 ZK, making it the most profitable launchpool in the market that month.High Trading volume & High KYC Verification RateHashKey Global experienced a significant 173% increase in daily trading volume, reaching USD 348 million, with a cumulative asset balance of USD 105 million, up 338% month-over-month.In May, 2,763 users participated in mining events, and 1,251 users had a monthly trading volume exceeding USD 5 million. The platform also gained 28,500 new registered users, with 12,810 new KYC applications submitted.About HashKey GlobalHashKey Global (https://ift.tt/vMOGDQd) is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts, leverage, and staking.Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation.This article was written by FM Contributors at www.financemagnates.com.
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Tradeweb Markets reported trading volume amounting to $41.7trillion in May 2024, marking a 40% year-over-year increase in average dailyvolume (ADV) to $1.9 trillion. This significant growth highlights the robustactivity across various trading segments in the electronic marketplace.Strong Institutional ActivityUS government bond ADV surged by 33.4% YoY to $192.5billion, supported by broad client sector growth and favorable marketconditions. European government bond ADV experienced a slight dip of 0.4% YoYto $41.4 billion. The adoption of new protocols and increased primary issuancein Europe and the UK contributed to sustained trading volumes.Mortgage ADV climbed by 18.4% YoY to $197.1 billion,driven by heightened activity in dollar rolls, coupon swaps, and basis trading.Tradeweb experienced the second-highest total volume ever for specified pooltrading.Swaps and swaptions with maturities of one year ormore experienced a 53.3% YoY increase in ADV to $484.2 billion. Overall ratesderivatives ADV rose by 67.9% YoY to $784.6 billion, reportedly boosted by astrong institutional activity and a 69% increase in compression activity.Fully electronic US credit ADV grew by 46.7% YoY to$6.6 billion, with European credit ADV up 16.1% YoY to $2.2 billion. The UScredit market posted a notable growth in RFQ, portfolio trading, and TradewebAllTrade usage. Equities and Money MarketsMunicipal bonds ADV increased by 11.1% YoY to $357million, aligning with broader market trends as institutional activity outpacedretail activity. Credit derivatives ADV rose by 5.7% YoY to $8.7 billion,driven by heightened credit volatility and increased activity in swap executionfacilities.US and European ETF trading volumes declined, with US ETF ADV dropping 15.3% YoY to $6.1 billion and European ETF ADV decreasing 1.4% YoY to $2.3 billion. This reduction was primarily due to lowersecondary market volumes and decreased equity volatility.Conversely, repurchase agreement ADV saw a 28.7% YoYincrease to $605.1 billion, fueled by heightened client activity on Tradeweb’selectronic repo platform. The market shift towards money markets was influencedby quantitative tightening, increased collateral supply, and adjustments inFederal Reserve policy.Recently, Tradeweb introduced a new feature that connects its repurchase agreement and interest rate swaps to enhance execution workflow in these markets. The electronic marketplaces aim to boost efficiency in how institutional clients navigate these markets through the new offering.The integration between the two markets aims to respond to heightened volatility in money markets caused by shifting expectations surrounding central bank policies. The platform has integrated overnight index swap curves into the repo trade negotiation process to provide institutional clients with insights into pricing to address this challenge.This article was written by Jared Kirui at www.financemagnates.com.
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After much anticipation, registration is now live for Finance Magnates Pacific Summit 2024 (FMPS:24), the year’s largest professional event in the Asia-Pacific region. The premium event looks to bridge the B2B and B2C space, taking place in Sydney, Australia on August 27-29. Prospective attendees can expect to meet, network, and engage with the industry’s leading talent and brokers, while connecting with regional and local providers.FMPS:24 is all about expanding one’s global reach or footprint through unique networking opportunities. Nowhere else in APAC will attendees have the chance to speak to so many different parties, speakers, and talent, all under one roof. This is one event you cannot afford to miss this August!Register Today for FMPS:24FMPS will be held at the world-famous International Convention Centre (ICC) in downtown Sydney. ICC Sydney is not only one of Australia’s leading venues but a locale renowned for its conventions, exhibitions, and entertainment. As one of the world’s greatest business event centers, ICC promises to be the perfect setting for FMPS:24, conveniently located next to the premium waterfront location at Darling Harbour.Attendees can expect to take a deep dive into multiple verticals represented at length, such as the online trading, payments, digital assets, and fintech space. With only a few months to go until the doors of this event swing open, the time to reserve your seat is now and can be done by accessing the following link.What Can Attendees Expect from FMPS:24?FMPS:24 is APAC’s can’t miss event of 2024 that starts with professionalism and includes a diverse range of individuals available for doing business with. Attendees can expect to network, engage, and connect face-to-face with the following participants:Forex/CFD BrokersInstitutional BrokersAffiliates & IBsTraders & InvestorsEducators & Market ExpertsFintech & Payments BrandsCrypto & Digital Assets BusinessesTechnology & Liquidity ProvidersPress/MediaRegulatorsStart-upsInvestors/VCsIn terms of content, FMPS:24 will take a explore the latest topics and trends with actionable insights, engaging conversation, and an eye on the future. This includes an entire content slate of discussions, webinars, workshops, keynote speeches, and much more. These informative sessions provide the ideal forum and platform for traders and industry professionals to learn and gain valuable perspective into new trading techniques, technologies, and trends in Australia, APAC, and the broader financial services space.Look for the event to attract upwards of 2,000+ attendees, 70+ exhibitors, and 50+ speakers, making FMPS:24 one of the largest events in Australia in 2024. Stay tuned over the next month for more updates on FMPS:24, including the rollout of the detailed agenda, and more!This article was written by Jeff Patterson at www.financemagnates.com.
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Robinhood Markets, Inc. has announced its agreement toacquire Bitstamp Ltd, a global cryptocurrency exchange. Founded in 2011,Bitstamp operates offices in Luxembourg, the UK, Slovenia, Singapore, and theUS.The acquisition is expected to expedite Robinhood Crypto'sglobal expansion. Bitstamp holds over 50 active licenses and registrationsworldwide, attracting customers from the EU, UK, US, and Asia to Robinhood'splatform.Entering Institutional Crypto RealmThis acquisition marks Robinhood's venture into theinstitutional business, leveraging Bitstamp's reputation for reliable tradeexecution, deep order books, and leading API connectivity. Bitstamp'sinstitutional offerings, including white label solution Bitstamp-as-a-service,institutional lending, and staking, will provide Robinhood with establishedrelationships and industry-leading products.Bitstamp's core spot exchange offers over 85 tradableassets, along with products like staking and lending, which will enhanceRobinhood's Crypto offering.“As the world’s longest running cryptocurrency exchange,Bitstamp is known as one of the most-trusted and transparent crypto platformsworldwide,” said JB Graftieaux, CEO of Bitstamp. “Bringing Bitstamp's platformand expertise into Robinhood’s ecosystem will give users an enhanced tradingexperience with a continuing commitment to compliance, security, andcustomer-centricity.”We’re accelerating Robinhood Crypto’s worldwide expansion. Robinhood has officially entered into an agreement to acquire @Bitstamp, a global cryptocurrency exchange with customers across the EU, UK, US and Asia. More details: https://t.co/wk3x02z0rU pic.twitter.com/aadKzhCxlx— Robinhood (@RobinhoodApp) June 6, 2024Pending Regulatory Green LightThe final deal consideration is expected to be approximately$200 million in cash, subject to customary purchase price adjustments. Theacquisition is pending regulatory approvals and other closing conditions, witha projected completion in the first half of 2025. Barclays Capital Inc. actedas the exclusive financial advisor to Robinhood, while Galaxy Digital PartnersLLC advised Bitstamp.“By seamlessly coupling customerexperience with safety across geographies, the Bitstamp team has establishedone of the strongest reputations across retail and institutional cryptoinvestors," said Johann Kerbrat, General Manager of Robinhood Crypto.“Through this strategic combination, we are better positioned to expand ourfootprint outside of the US and welcome institutional customers to Robinhood.”This article was written by Tareq Sikder at www.financemagnates.com.
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<a href="https://www.ironfx.com/en/">IronFX</a>, an award-winning global leader in online trading, is setting the standard in client experience through its Complete Trader’s Toolkit – the ultimate destination of choice for traders of all experience levels.Through its holistic toolkit, the broker presents unparalleled trading features to its clients, including advanced trading platforms like MetaTrader 4 (MT4), generous ongoing promotions, and a wealth of educational resources via the IronFX Academy.Serving more than 1.5 million clients across 180 countries worldwide, IronFX’s enhanced product offering arms traders with the best available trading tools, giving them the foundation they need to enter the global markets with confidence.Bespoke trading platformsIronFX presents a comprehensive suite of trading platforms including the internationally popular MetaTrader 4 (MT4), one of the world’s most reliable and advanced options on the market, renowned for its user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs).Clients can enjoy instant access to hundreds of CFD assets and trade the world’s largest markets on a single system, with more than 500 instruments from 6 different available asset classes including forex, metals, indices, commodities, futures, and shares.The broker offers the ultimate trading choice, tailored to meet the needs of different traders, which is demonstrated through the broad array of platform options provided. With IronFX, clients can choose from MT4, MT4 Web Trader and the firm’s own proprietary Personal Multi Account Manager (PMAM), with each application able to feature standard or custom Virtual Private Server (VPS) Hosting integration, available upon request.Ultimate trading convenienceIn testament to its solid emphasis on delivering innovative trading solutions, IronFX facilitates on the go trading through its powerful mobile app, available on both Android and iOS devices. This brings the full functionality of IronFX's desktop platform to the user’s fingertips, allowing traders to manage their portfolios and stay tuned in to the markets wherever they are in the world.Featuring an intuitive interface, real-time market data, advanced charting tools, and a variety of technical indicators, the app provides traders with greater trading flexibility. This not only enables them to maintain their accounts from anywhere, but also provides a convenient way to react swiftly to sudden price movements as and when the market direction changes.Importantly, the IronFX mobile app ensures a seamless trading experience thanks to its full synchronisation with the desktop platform, meaning traders can switch between devices without missing a beat, with all data, preferences, and trading history being consistently updated.Comprehensive educational resourcesIronFX has a solid reputation as a broker that is truly committed to enhancing traders’ knowledge, as shown through its extensive catalogue of educational resources, accessible for free via a<a href="https://academy.ironfx.com/en/"> dedicated section</a> on its website.Known as the IronFX Academy, it includes well-structured forex courses, covering everything from the basics up to advanced trading strategies, so that beginner traders can explore the markets at their own pace.There is also a sizable bank of online visual content, including trading videos, webinars, and podcasts, which offer fascinating insights into a range of subjects, including market trends, trading tips, techniques, market analysis, as well as featuring numerous interviews with leading industry professionals.For those who prefer text materials, IronFX has all bases covered, thanks to a range of published eBooks, articles, and a full glossary of terms. These written resources provide an in-depth focus on a range of important aspects of trading, such as trading strategies, technical analysis, and fundamental analysis, helping traders to continuously expand their knowledge pool.Exclusive bonuses…
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Fxview, a multi-regulated forex and CFD brokerage owned by Finvasia Group, has been crowned “BEST ECN/STP BROKER AFRICA” at the Financial Achievements in Markets Excellency (FAME) Awards 2024, in recognition of its strong product offering in Africa, further solidifying its position as a leading player in the region.The company received the award on May 22, 2024 at a special ceremony held during the Finance Magnates Africa Summit (FMAS:24) at the Sandton Convention Centre, South Africa. The event featured prominent industry figures from across the African continent, who gathered together in celebration of excellence, innovation, and achievement.This prestigious accolade serves to highlight Fxview’s unwavering commitment to growth and expansion in Africa, while also recognising the hard work and dedication provided by its team. It also highlights the trading conditions offered by the broker including institutional grade spreads and high-quality execution.Trusted by traders worldwideFxview is a trusted global multi-asset brokerage, forming a key part of Finvasia Group, a leading cross-industry conglomerate established in 2009. Known for its extensive selection of reputable and top-tier platforms, Fxview offers competitive trading conditions on a range of markets, tailored to traders of all experience levels on the ActTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5) platforms.Since its inception, Fxview has remained steadfast in its commitment to transparency, reliability, and high levels of customer service. By offering low-cost trading solutions and utilising the latest and best technological solutions, Fxview fully supports every one of its clients throughout each stage of their trading journey. A truly award-winning brokerIn receiving this latest award, Fxview adds to its already impressive collection of accomplishments, demonstrating its consistent high performance in providing the best service possible to its many clients spanning multiple territories worldwide. It builds on some of the recent successes achieved by the company, which include: “BEST BROKER – MEA”, “FASTEST GROWING BROKER”, “BEST GLOBAL BROKER”, “BEST MULTI-ASSET BROKER AFRICA”, and “BEST ECN/STP BROKER MEA.”Tajinder Virk, Co-founder and CEO of Finvasia said: "Winning the 'BEST ECN/STP BROKER AFRICA' at the FAME Awards 2024 is the latest in a long line of achievements at Fxview.”“This award is a testament to all the efforts of our team who have worked so hard to ensure that Fxview continues to lead the way in Africa through delivering exceptional products to clients in the retail trading space.”“It is a strong endorsement of trading environment, which offers a whole host of other advantages, including lightning-fast execution, razor-thin spreads, and deep liquidity on forex, stocks, indices, and commodities that empower clients to trade with confidence and precision.”A bright future aheadLooking ahead, Fxview remains dedicated to its mission of providing best-in-class services to traders across the globe. With a focus on continuous improvement and customer satisfaction, Fxview sets new standards in the FX industry, ensuring that its traders always have access to exceptional trading conditions.For more information, please visit Fxview's website.All references to “Fxview” in this article refers to Finvasia Capital South Africa (Pty) Ltd. Finvasia Capital South Africa (Pty) Ltd is a company registered on 3rd Floor, 34 Whiteley Blvd,Melrose Arch, Birnam, 2196, with license number 50410 and regulated by the Financial Sector Conduct Authority. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.This article was written by FM Contributors at www.financemagnates.com.
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Blockchain-based AI infrastructure startup <a href="https://hypercycle.ai/">HyperCycle.ai</a> is making its mark on the market for wearable devices with the launch of its new HyperRing. It’s a strikingly beautiful, battery-free device that utilizes Near-Field Communication technology to enable crypto payments and securely store user data in a decentralized way. The very first <a href="https://www.hyperring.co/">HyperRings</a> were distributed to delegates and attendees at the <a href="https://www.superai.com/">SuperAI event</a> in Singapore on June 5-6, giving them a way to “secure their wealth generated from the AI economy”, the company explained. The launch follows a long period of development, and represents a big expansion of HyperCycle’s initial vision of creating an “Internet of AIs”. The company is best known for its ledgerless blockchain architecture that aims to democratize AI by providing access to a <a href="https://www.hypercycle.ai/technology">fast and secure network</a> of powerful computing resources. HyperCycle’s vision is to build a lower-cost computing resource for AI developers, so they don’t have to rely on centralized cloud infrastructure providers or buy high-end servers themselves. To enable this, it has created a device called the HyperAiBox, which is a specialized plug-and-play server that allows users to set up and run a distributed network node that works collectively with other nodes to provide computing power for AI models. Users can also connect third-party hardware to the network. Node operators earn crypto rewards for providing compute resources to the network. Convenient and stylish ‘hyper-security’In line with this vision of a decentralized AI future, HyperCycle believes there’s a need for its community to better secure the rewards they earn from this new economy, and this is what the HyperRing wearable is all about. Pitched as an elegant security wearable, the HyperRing melds its sleek and stylish aesthetic with powerful utility, enabling users to secure their AI and crypto assets with advanced cryptography, and bring them anywhere they go. The HyperRing <a href="https://medium.com/@singularitynetambassadors/exploring-the-potential-of-hyperring-nfc-technology-8ee57a2f203b">relies on NFC technology</a> for communication, but unlike other kinds of “smart rings”, it does not use batteries and it is not equipped with any sensors. This means users will never have to charge their ring, and they can be confident that it’s highly secure too.“HyperRing provides users with an added layer of security on AI platforms where digital assets are generated, stored, and consumed,” the company said. “The smart device utilizes NFC and MFA (multi-factor authentication) to protect against data theft, identity theft, and impersonation.”HyperCycle, which has spun off HyperRing as an independent entity, said the wearable combines convenience with security, enabling people to transact online or in-person with heightened security. In addition, the ring can also act as a store of the user’s confidential data, such as their health records, so they can share this information whenever it’s necessary to do so, while keeping it secure from prying eyes. The company said its novel security mechanism uses an Earth64 data structure that supports decentralized verification, similar to something like Apple’s Face ID, but more secure than an iPhone that’s susceptible to hacking. Users will be able to purchase the HyperRing directly, and the company is also planning to offer a white-label version for companies that want to brand the product and give to their customers. HyperCycle founder and Chief Executive Toufi Saliba expressed his belief that in future, most new wealth creation will come from AI systems. As such, his “number one priority is ensuring those partaking in running AIs are securing their wealth using top tech that remains inconspicuous, stylish and convenient”. HyperRing’s launch comes not long after HyperCycle released a new SDK for developers looking to build intelligent…
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US Securities and Exchange Commission (SEC) Chairman GaryGensler delivered a cautionary message to cryptocurrency exchanges,underscoring that merely providing disclosures to investors does not immunizethem from regulatory scrutiny.Crypto Disclosure Gaps and Regulatory ConcernsSpeaking in an interview with CNBC yesterday (Wednesday),Gensler stressed the inadequacy of disclosures alone, especially if cryptoexchanges are involved in activities like market manipulation or disseminationof misleading information affecting investment decisions.He highlighted the prevalent absence of disclosures fromnumerous crypto firms, operating in a manner that would not meet the standardsexpected in traditional financial markets. The SEC has intensified its enforcement efforts in thedigital assets realm, particularly following the collapse of cryptocurrencyexchange FTX in late 2022.The agency is actively pursuing legal actions against someof the major players in the US crypto market, including an ongoing case againstCoinbase, the largest exchange in the country by daily trading volume.⚡️ News Flash - 5 Jun 2024 !1️⃣ @SECGov Chair @GaryGensler Asserts Disclosures Alone Insufficient to Protect #Crypto Exchanges #SEC Chair Gary Gensler stated in a #CNBC interview that crypto exchanges providing disclosures are still subject to enforcement actions by the agency.… pic.twitter.com/SD4quYVrM7— Altcoin Alerts (@Altcoin_Alerts) June 5, 2024Balanced Approach on Crypto ETFsGensler adopted a nuanced approach when discussing thepotential for crypto exchange-traded funds (ETFs), citing examples like thoseinvolving the Solana memecoin BONK.The year is 2024 Jim Cramer is asking Gary Gensler if we should have a BONK ETF on CNBCthis is real life pic.twitter.com/5zyCzDZwAq— gaut (@0xgaut) June 5, 2024This moderated stance aligns with the SEC's recent greenlight on spot Ethereum ETFs, a decision that surprised many given previousconsiderations of Ethereum as an unregistered security. The SEC's approval of Ethereum ETFs has spurred discussionson the agency's openness to considering other altcoin spot ETFs.Observers speculate that political dynamics, including theinfluence of the crypto lobby and the impending 2024 election, may havecontributed to the SEC's evolving position.This article was written by Tareq Sikder at www.financemagnates.com.
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Amid the bustling Finance Magnates Africa Summit(FMAS:24) in Johannesburg, South Africa, Gerhard Van Deventer, the Divisional Executive of Enforcement at theFinancial Sector Conduct Authority (FSCA), shared crucial advice for newtraders on avoiding financial scams in an interview with our very own AdamButton, ForexLive Chief Currency Analyst. We're at the Finance MagnatesAfrica Summit, and it's a packed house with hundreds of new traders pouring in.What is the main message you want to tell them?"I think the main message from our side iscertainly talking to the actual traders and the platform owners. Please keep inmind that not everybody can afford the risk of trading in <a href="https://www.financemagnates.com/tag/cfds/">CFDs</a>, trading onplatforms, or trading in underlying products like crypto. So, the whole issueof suitability is very important, and that is something that we would reallyappreciate if our service providers would keep an eye on.""Our message is always only to deal withregulated entities. Very important, only deal with regulated entities. There'sa framework that they must operate in, and there's something we can do if itgoes wrong. The problem is there's a trend that we are seeing nowadays ofimpersonations, so the public has a really hard time because scammers wouldimpersonate one of our regulated entities."We've seen it's a moving target. The most legitimatebrokers often can't offer the same things or make the same claims, making itless tempting for users to trade with them. While promising returns that areway out of reach should be a red flag, what are the different ways scammerslure people to deposit their money?"You're absolutely right; unrealistic returns arethe most important red flag. But there's a more sophisticated problem:impersonations. Scammers impersonate our regulated entities, making it hard forthe public. I used to say look out for bad language or incorrect grammar onwebsites or social media, but scammers have upped their game.""Now, you mightsee professional-looking websites. The best advice is to contact the <a href="https://www.financemagnates.com/tag/fsca/">FSCA</a> andcheck on our website whether the entity is genuine. It's crucial for the publicto do their due diligence.""Is there any way to trade with a non-regulatedbroker here? There is a way to do it, but is that ever advisable? It's neveradvisable. We distinguish between a non-regulated person and an unregisteredperson. An unregistered person is someone who should have a license but doesn'thave one, while an unregulated person is someone who doesn't require alicense."It's impressive to see some advertising emphasizing<a href="https://www.financemagnates.com/terms/r/regulation/">regulation</a> from South Africa and around the world. Consumers often gloss over-regulation, but it's crucial to check if an entity is regulated. You mentionedthere are thousands of regulated entities and many more unregulated orimpersonating them. What can you tell us about that?"Absolutely. Our focus is on the unregulatedentities because that's where the big risk is. The public often doesn't stand achance against these scams, so it's essential to do due diligence.Unfortunately, even very smart people can fall for scams because they don'thave time to look after their finances. For instance, we've seen doctorstargeted because they deal in trust and don't have time to manage theirfinances."Influencers seem to be a growing concern. Why is thata red flag?"Influences is a big issue for the FSCA and it'scertainly a focus area for enforcement in the coming year. What you're reallydoing is you're giving financial advice, and you have influence. You're givingfinancial advice to people who are not going to think twice about it, and thatis really dangerous.""Before we will grant a license for an intermediary or abroker to provide advice, he or she must convince us that they have the skills,the qualifications, and the experience to give that advice."What about copy trading? Why is that dangerous forretail traders?"<a…
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Blockchain-based AI infrastructure startup <a href="https://hypercycle.ai/">HyperCycle.ai</a> is making its mark on the market for wearable devices with the launch of its new HyperRing. It’s a strikingly beautiful, battery-free device that utilizes Near-Field Communication technology to enable crypto payments and securely store user data in a decentralized way. The very first <a href="https://www.hyperring.co/">HyperRings</a> were distributed to delegates and attendees at the <a href="https://www.superai.com/">SuperAI event</a> in Singapore on June 5-6, giving them a way to “secure their wealth generated from the AI economy”, the company explained. The launch follows a long period of development, and represents a big expansion of HyperCycle’s initial vision of creating an “Internet of AIs”. The company is best known for its ledgerless blockchain architecture that aims to democratize AI by providing access to a <a href="https://www.hypercycle.ai/technology">fast and secure network</a> of powerful computing resources. HyperCycle’s vision is to build a lower-cost computing resource for AI developers, so they don’t have to rely on centralized cloud infrastructure providers or buy high-end servers themselves. To enable this, it has created a device called the HyperAiBox, which is a specialized plug-and-play server that allows users to set up and run a distributed network node that works collectively with other nodes to provide computing power for AI models. Users can also connect third-party hardware to the network. Node operators earn crypto rewards for providing compute resources to the network. Convenient and stylish ‘hyper-security’In line with this vision of a decentralized AI future, HyperCycle believes there’s a need for its community to better secure the rewards they earn from this new economy, and this is what the HyperRing wearable is all about. Pitched as an elegant security wearable, the HyperRing melds its sleek and stylish aesthetic with powerful utility, enabling users to secure their AI and crypto assets with advanced cryptography, and bring them anywhere they go. The HyperRing <a href="https://medium.com/@singularitynetambassadors/exploring-the-potential-of-hyperring-nfc-technology-8ee57a2f203b">relies on NFC technology</a> for communication, but unlike other kinds of “smart rings”, it does not use batteries and it is not equipped with any sensors. This means users will never have to charge their ring, and they can be confident that it’s highly secure too.“HyperRing provides users with an added layer of security on AI platforms where digital assets are generated, stored, and consumed,” the company said. “The smart device utilizes NFC and MFA (multi-factor authentication) to protect against data theft, identity theft, and impersonation.”HyperCycle, which has spun off HyperRing as an independent entity, said the wearable combines convenience with security, enabling people to transact online or in-person with heightened security. In addition, the ring can also act as a store of the user’s confidential data, such as their health records, so they can share this information whenever it’s necessary to do so, while keeping it secure from prying eyes. The company said its novel security mechanism uses an Earth64 data structure that supports decentralized verification, similar to something like Apple’s Face ID, but more secure than an iPhone that’s susceptible to hacking. Users will be able to purchase the HyperRing directly, and the company is also planning to offer a white-label version for companies that want to brand the product and give to their customers. HyperCycle founder and Chief Executive Toufi Saliba expressed his belief that in future, most new wealth creation will come from AI systems. As such, his “number one priority is ensuring those partaking in running AIs are securing their wealth using top tech that remains inconspicuous, stylish and convenient”. HyperRing’s launch comes not long after HyperCycle released a new SDK for developers looking to build intelligent…
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The relationship between traditional banks and the cryptocurrency industry has been, to put it mildly, strained. While Bitcoin continues to gain mainstream attention, many financial institutions remain hesitant to embrace this new asset class. To understand this dynamic, we spoke with Danny Scott, co-founder and CEO of CoinCorner, a Bitcoin exchange company at the forefront of this technological shift. Scott's early involvement in Bitcoin and debanking provides a unique perspective on both what it means to be an early BTC adopter and the friction between traditional financial systems and the rapidly expanding cryptocurrency market. CoinCorner wasn't just an early adopter of Bitcoin, they were pioneers. Scott himself began mining Bitcoin in 2013, a time when the fledgling cryptocurrency was still a fringe concept. This head start has allowed CoinCorner to witness the evolution of Bitcoin firsthand, and more importantly, to navigate the challenges and opportunities that come with being an early mover in such a fast-paced environment. On the Public Perception of Bitcoin2016: "<a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> is a joke"Same people2021: "Should I buy <a href="https://twitter.com/hashtag/Dogecoin?src=hash&ref_src=twsrc%5Etfw">#Dogecoin</a>?"— Danny Scott ⚡ (@CoinCornerDanny) <a href="https://twitter.com/CoinCornerDanny/status/1384387207654432768?ref_src=twsrc%5Etfw">April 20, 2021</a>When asked what the biggest hurdles preventing widespread public adoption of cryptocurrencies for everyday transactions were, Scott didn’t skip a beat. Education on crypto is lackluster.“One of the biggest challenges facing widespread Bitcoin adoption is the public perception of cryptocurrencies. Here, the issue is twofold. Meme tokens, with their wild price swings and often ludicrous purposes, create a sense of volatility and frivolity that overshadows the potential of serious projects like Bitcoin. Additionally, the technical aspects of cryptocurrency can be daunting for newcomers. The unfamiliar vocabulary and complex processes can create a barrier to entry, discouraging potential users who might otherwise be interested.”Scott acknowledges these hurdles. However, he argues that these are temporary obstacles that will be overcome with time and education.“A key factor in this education process will be a generational shift. Younger demographics, already comfortable with digital technology, are more likely to embrace cryptocurrencies. As this generation grows in influence, the overall perception of crypto is likely to improve.”But the challenges aren't limited to public perception. The traditional banking system itself presents a significant hurdle.On Crypto Education, Risk Aversion, and Getting Debanked“Many banks remain wary of crypto due to a fundamental lack of understanding. Just as some early internet entrepreneurs faced resistance from established businesses, cryptocurrency companies today encounter similar skepticism from the financial world. This lack of education often manifests as risk aversion. Banks, naturally cautious institutions, are hesitant to embrace something they don't fully comprehend and will only do so when they find it to be compatible with their business model.”This risk aversion can even manifest in what's known as debanking. De-banking is the closure of a customer's bank account by a bank that perceives the customer to be a financial, legal, regulatory, or reputational risk. Scott himself experienced this firsthand in 2016 when his own bank account was closed simply because he was associated with a Bitcoin exchange. The good news, according to Scott, is that “this resistance is likely to soften in the face of growing public interest and potential financial benefits. As Bitcoin adoption increases, banks will eventually realize that they can't afford to ignore this new asset class.”“There's simply too much potential value at stake.”CoinCorner, for example, is already demonstrating the ways in which banks and crypto companies…
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Binance has reportedly reintroduced Mastercardpayments for crypto purchases. This move comes after Mastercard paused thisservice in August 2023 due to Binance's legal challenges in the US. Both theU.S. Securities and Exchange Commission (SEC) and the Commodity Futures TradingCommission (CFTC) had filed multiple charges against the exchange, leading to atemporary cessation of these services.Enhanced Security Measures Binance's spokesperson told Coindesk that thisdecision was reached after a review of the controls and processes that Binance has implemented. Mastercard now allows Binance-related purchases onits network and plans to support other services later, such as withdrawals. Mastercard reportedly confirmed this development butemphasized the importance of continuous monitoring. The payment giant mentionedthat it has reviewed the controls and processes that Binance has put intoplace. Based on those efforts, the company decided to enable support of Binancepurchases and deposits on its network. Expect ongoing updates as this story evolves. This article was written by Jared Kirui at www.financemagnates.com.
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"The business models used by firms engaged in prop trading (technically funded trader services) can take various forms, some of which may be subject to the MiFID regulatory framework,” the Czech National Bank told Finance Magnates exclusively. In this context, It's worth mentioning that one of the top prop trading companies, FTMO, is domiciled in the Czech Republic.“In those scenarios", added the regulator, "we believe that the relevant MiFID services could be: reception and transmission of orders in relation to one or more financial instruments; execution of orders on behalf of clients; or dealing on own account.” The regulator added that, “however, in other cases, the exemptions from MiFID apply, and in such cases, the prop trading entity is not subject to the supervision of the Czech National Bank and does not need to be supervised. Also, should there be a suspicion of fraud, we stress that such conduct would be subject to criminal law.”The Czech National Bank has confirmed to Finance Magnates that it has “taken notice of the prop trading industry,” adding that it is “well aware of the existence and occurrence of the prop trading phenomenon” and the "the potential need for new regulation in this area should be assessed on the EU level." The response from the Czech National Bank came amid Finance Magnates revealed that the European Securities and Markets Authority (ESMA) <a href="https://www.financemagnates.com/forex/exclusive-regulators-conducted-preliminary-reviews-on-potential-prop-trading-regulations/">ran an initial check on such prop trading firms</a> and discussed potential regulations. Also, according to Muinmos’ founder and CEO, Remonda Kirketerp-Møller, “regulators have been conducting studies, gathering data, and engaging in consultations with industry participants to better understand the nature and implications of prop trading.”However, none of the top regulators have confirmed their move towards bringing prop trading regulations, making the Czech National Bank the first one in the EU to come up with a comment on prop trading regulations.Finance Magnates also talked to several industry experts and stakeholders in prop trading. Interestingly, their views varied drastically.No Regulations to Same Rules as FX/CFDs"Prop firms should be subject to the same rules and scrutiny that FX/CFD brokers are subject to," Greg Rubin, Head of Axi Select, told Finance Magnates. Meanwhile, <a href="https://www.financemagnates.com/forex/exclusive-prop-trading-firm-ftmo-to-become-a-broker-hires-michael-kamerman/">FTMO’s</a> General Counsel, Matus Tutko, does not think regulations are “necessary [as] the current regulatory environment is robust enough.” Both brands offer prop trading services.Notably, by “current regulatory environment,” Tutko is pointing at generic business rules like “laws such as consumer protection rules, data protection rules, rules on international sanctions.”“I truly believe that there is a good argument why the modern prop trading industry should not be regulated by any specific regulation,” Tutko said, adding that “clients are only trading on demo accounts and are never depositing any money for actual trading and therefore they are not facing any risk of losing them.” However, he is in favour of “self-regulation [that] would help steer compliance practices and hence increase the trust of clients.”Axi’s Rubin, who is on the other extreme, detailed that “prop firms are ultimately servicing retail traders who are placing trades with the ambition of profiting. I don’t see how this is any different from the standard FX/CFD industry, which, of course, we know is heavily regulated.”“It seems the main reason the industry has managed to avoid regulations so far is due to the technicalities of using <a href="https://www.financemagnates.com/forex/beginning-of-the-end-axi-predicts-collapse-of-demo-prop-trading-model/">demo accounts instead of live trading accounts</a>, meaning it is virtual without any ‘real trading’ or financial transaction taking place,” Ruben added.…
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ADSS has announced that clients can now trade stocks listedon the Abu Dhabi Securities Exchange (ADX) through its flagship tradingplatform. This new feature allows investors to access and trade localstocks such as EAND, Aldar Properties, and AD Ports Group.Expanding Trading OptionsThe move aims to provide clients with unique tradingopportunities and broaden their access to the local market. ADSS now offerstrading in various sectors including finance, energy, materials, logistics,property, and telecom.ADSS is regulated by the Securities and CommoditiesAuthority (SCA) in the UAE, ensuring that client funds are subject to strictregulatory oversight. Additionally, fund transfers, withdrawals, and depositsare streamlined through UAEPGS in collaboration with the Central Bank of theUAE, providing security for UAE bank account holders.We're officially an ADX Trading Member! 🔔 As part of our commitment to provide our traders with new opportunities, we’re thrilled to offer them local stocks listed on the Abu Dhabi Securities Exchange. 👏 https://t.co/Lc6vcdYgmu— ADSS (@adssgroup) June 4, 2024Embracing Cloud TechnologyADSS has adopted cloud-based technologyfor its proprietary trading platform, partnering with Adaptive FinancialConsulting, as reported by FinanceMagnates. This move signifies a departure from traditional legacyinfrastructure in the financial sector. سوق أبوظبي للأوراق المالية يرحب بشركة “إي دي إس إس“ كأحدث عضو تداول في السوق يصل إجمالي عدد شركات الوساطة الأعضاء في سوق أبوظبي للأوراق المالية إلى 33 شركة #ADX Welcomes #ADSS as its newest market member. Bringing the total number of market members on ADX to 33.@adssgroup pic.twitter.com/Iix3LTTi4u— سوق أبوظبي للأوراق المالية (@ADX_AE) June 3, 2024Cloud-based infrastructure, provided by tech giants such asAmazon, Google, and Microsoft, offers flexibility and scalability, allowingseamless integration for brokers and vendors. Matt Barrett, CEO of AdaptiveFinancial Consulting, emphasizes the reliability and performance of cloudservices for retail brokers, highlighting the absence of latency issues andresource constraints.This article was written by Tareq Sikder at www.financemagnates.com.
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Tradeweb Markets reported trading volume amounting to $41.7trillion in May 2024, representing a 40% year-over-year increase in average dailyvolume (ADV) to $1.9 trillion. This significant growth highlighted the heightened activity across various trading segments in the electronic marketplace.Strong Institutional ActivityUS government bond ADV surged by 33.4% YoY to $192.5billion, supported by broad client sector growth and favorable marketconditions. European government bond ADV experienced a slight dip of 0.4% YoYto $41.4 billion. The adoption of new protocols and increased primary issuancein Europe and the UK contributed to sustained trading volumes.Mortgage ADV climbed by 18.4% YoY to $197.1 billion,driven by heightened activity in dollar rolls, coupon swaps, and basis trading.Tradeweb experienced the second-highest total volume ever for specified pooltrading.Swaps and swaptions with maturities of one year ormore experienced a 53.3% YoY increase in ADV to $484.2 billion. Overall ratesderivatives ADV rose by 67.9% YoY to $784.6 billion, reportedly boosted by astrong institutional activity and a 69% increase in compression activity.Fully electronic US credit ADV grew by 46.7% YoY to$6.6 billion, with European credit ADV up 16.1% YoY to $2.2 billion. The UScredit market posted a notable growth in RFQ, portfolio trading, and TradewebAllTrade usage. Equities and Money MarketsMunicipal bonds ADV increased by 11.1% YoY to $357million, aligning with broader market trends as institutional activity outpacedretail activity. Credit derivatives ADV rose by 5.7% YoY to $8.7 billion,driven by heightened credit volatility and increased activity in swap executionfacilities.US and European ETF trading volumes declined, with US ETF ADV dropping 15.3% YoY to $6.1 billion and European ETF ADV decreasing 1.4% YoY to $2.3 billion. This reduction was primarily due to lowersecondary market volumes and decreased equity volatility.Conversely, repurchase agreement ADV saw a 28.7% YoYincrease to $605.1 billion, fueled by heightened client activity on Tradeweb’selectronic repo platform. The market shift towards money markets was influencedby quantitative tightening, increased collateral supply, and adjustments inFederal Reserve policy.Recently, Tradeweb introduced a new feature that connects its repurchase agreement and interest rate swaps to enhance execution workflow in these markets. The electronic marketplaces aim to boost efficiency in how institutional clients navigate these markets through the new offering.The integration between the two markets aims to respond to heightened volatility in money markets caused by shifting expectations surrounding central bank policies. The platform has integrated overnight index swap curves into the repo trade negotiation process to provide institutional clients with insights into pricing to address this challenge.This article was written by Jared Kirui at www.financemagnates.com.
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CentFx, an established online broker, has added another prestigious industry title to its collection, after receiving the highly-coveted “Best Online Trading Services” award at the BrokersView Expo 2024 which took place on 16-17 April. Company representatives claimed the prize in a special ceremony held at the Conrad in Dubai.It represents the latest in a long line of honours bestowed upon the company since its foundation in 2022, reinforcing its reputation as an award-winning, multi-regulated broker, while also demonstrating an unwavering commitment to the principles of trust, quality and reliability.As a leading international brokerage firm, CentFx provides high-quality services to clients all around the world, offering an excellent range of account types and wide selection of tradable assets, with 24/5 multilingual support and highly-competitive forex and CFD trading conditions.Fully licenced and regulated by the Financial Services Commission (FSC) in Mauritius, the company has already amassed more than 18 industry awards to date, in recognition of its exceptional product offerings, which also includes a multi-level affiliate program.Trusted by Traders Worldwide Since 2022Since its inception, CentFx has rapidly emerged as a frontrunner in the online trading sector, setting out with a clear vision to create a robust and intelligent trading platform. A key element of this is empowering traders to enjoy an enhanced experience while trading the global markets. In 2022, the broker launched its initial trading platform, offering a diverse range of financial instruments, including currencies, commodities, indices, and metals. By 2023, the company had expanded its global reach, incorporating multilingual support and introducing a swap-free trading feature catering specifically to Muslim clients. Last year also saw CentFx achieve exponential growth, with the company boasting around 23,600 active traders and 5,800 Introducing Brokers (IBs) on its books, alongside an impressive average monthly transaction volume of $9.6 million. This unprecedented expansion serves to highlight the top-notch trading solutions and exceptional customer service already on offer. A Truly Innovative Global BrokerCentral to CentFx's success is its devotion to providing true innovation and client satisfaction, with the company implementing a host of key features to offer added value to all its clients, including copy trading capabilities, expert webinars, and risk-free trading on a demo account.Looking ahead, the broker is planning to further bolster its trading platform suite by adding MetaTrader 4 (MT4), which is set to be launched in the near future, complementing MetaTrader 5 (MT5) which is already accessible to CentFx clients. There are also exciting plans to expand its asset lineup to include cryptocurrencies - on top of the 400+ trading instruments already provided - offering clients even greater trading choice. The company also intends to strengthen its educational initiatives to continue empowering traders, which aligns with its goal of maintaining industry leadership and delivering award-winning services.A Testament to ExcellenceCentFx's path to its latest award at the BrokersView Expo 2024 has been a story of multiple successes, characterised by its complete dedication to innovation and excellence. As the company looks to the future, it remains fully focused on delivering cutting-edge trading solutions and exceptional services to traders worldwide.To find out more about trading with CentFx, please click here.This article was written by FM Contributors at www.financemagnates.com.
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HashKey Global May 2024 Monthly Report released, the daily trading volume reached 348 million USD, representing a month-over-month increase of 173%. Launchpool's first-phase yield rate was as high as 37.68%, which made a notable impact on the market.Launchpool Introduces High APR to the MarketThe first Launchpool surprised the market with a high APR, attracting over 2,157 users who locked assets on the first day. The total amount pledged reached USD 109 million, with an APR of 37.68% during the first settlement period. The highest single-user earnings were 6,500 ZK, making it the most profitable launchpool in the market that month.High Trading volume & High KYC Verification RateHashKey Global experienced a significant 173% increase in daily trading volume, reaching USD 348 million, with a cumulative asset balance of USD 105 million, up 338% month-over-month.In May, 2,763 users participated in mining events, and 1,251 users had a monthly trading volume exceeding USD 5 million. The platform also gained 28,500 new registered users, with 12,810 new KYC applications submitted.About HashKey GlobalHashKey Global (https://ift.tt/vMOGDQd) is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts, leverage, and staking.Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation.This article was written by FM Contributors at www.financemagnates.com.
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After much anticipation, registration is now live for Finance Magnates Pacific Summit 2024 (FMPS:24), the year’s largest professional event in the Asia-Pacific region. The premium event looks to bridge the B2B and B2C space, taking place in Sydney, Australia on August 27-29. Prospective attendees can expect to meet, network, and engage with the industry’s leading talent and brokers, while connecting with regional and local providers.FMPS:24 is all about expanding one’s global reach or footprint through unique networking opportunities. Nowhere else in APAC will attendees have the chance to speak to so many different parties, speakers, and talent, all under one roof. This is one event you cannot afford to miss this August!Register Today for FMPS:24FMPS will be held at the world-famous International Convention Centre (ICC) in downtown Sydney. ICC Sydney is not only one of Australia’s leading venues but a locale renowned for its conventions, exhibitions, and entertainment. As one of the world’s greatest business event centers, ICC promises to be the perfect setting for FMPS:24, conveniently located next to the premium waterfront location at Darling Harbour.Attendees can expect to take a deep dive into multiple verticals represented at length, such as the online trading, payments, digital assets, and fintech space. With only a few months to go until the doors of this event swing open, the time to reserve your seat is now and can be done by accessing the following link.What Can Attendees Expect from FMPS:24?FMPS:24 is APAC’s can’t miss event of 2024 that starts with professionalism and includes a diverse range of individuals available for doing business with. Attendees can expect to network, engage, and connect face-to-face with the following participants:Forex/CFD BrokersInstitutional BrokersAffiliates & IBsTraders & InvestorsEducators & Market ExpertsFintech & Payments BrandsCrypto & Digital Assets BusinessesTechnology & Liquidity ProvidersPress/MediaRegulatorsStart-upsInvestors/VCsIn terms of content, FMPS:24 will take a explore the latest topics and trends with actionable insights, engaging conversation, and an eye on the future. This includes an entire content slate of discussions, webinars, workshops, keynote speeches, and much more. These informative sessions provide the ideal forum and platform for traders and industry professionals to learn and gain valuable perspective into new trading techniques, technologies, and trends in Australia, APAC, and the broader financial services space.Look for the event to attract upwards of 2,000+ attendees, 70+ exhibitors, and 50+ speakers, making FMPS:24 one of the largest events in Australia in 2024. Stay tuned over the next month for more updates on FMPS:24, including the rollout of the detailed agenda, and more!This article was written by Jeff Patterson at www.financemagnates.com.
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Fxview, a multi-regulated forex and CFD brokerage owned by Finvasia Group, has been crowned “BEST ECN/STP BROKER AFRICA” at the Financial Achievements in Markets Excellency (FAME) Awards 2024, in recognition of its strong product offering in Africa, further solidifying its position as a leading player in the region.The company received the award on May 22, 2024 at a special ceremony held during the Finance Magnates Africa Summit (FMAS:24) at the Sandton Convention Centre, South Africa. The event featured prominent industry figures from across the African continent, who gathered together in celebration of excellence, innovation, and achievement.This prestigious accolade serves to highlight Fxview’s unwavering commitment to growth and expansion in Africa, while also recognising the hard work and dedication provided by its team. It also highlights the trading conditions offered by the broker including institutional grade spreads and high-quality execution.Trusted by traders worldwideFxview is a trusted global multi-asset brokerage, forming a key part of Finvasia Group, a leading cross-industry conglomerate established in 2009. Known for its extensive selection of reputable and top-tier platforms, Fxview offers competitive trading conditions on a range of markets, tailored to traders of all experience levels on the ActTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5) platforms.Since its inception, Fxview has remained steadfast in its commitment to transparency, reliability, and high levels of customer service. By offering low-cost trading solutions and utilising the latest and best technological solutions, Fxview fully supports every one of its clients throughout each stage of their trading journey. A truly award-winning brokerIn receiving this latest award, Fxview adds to its already impressive collection of accomplishments, demonstrating its consistent high performance in providing the best service possible to its many clients spanning multiple territories worldwide. It builds on some of the recent successes achieved by the company, which include: “BEST BROKER – MEA”, “FASTEST GROWING BROKER”, “BEST GLOBAL BROKER”, “BEST MULTI-ASSET BROKER AFRICA”, and “BEST ECN/STP BROKER MEA.”Tajinder Virk, Co-founder and CEO of Finvasia said: "Winning the 'BEST ECN/STP BROKER AFRICA' at the FAME Awards 2024 is the latest in a long line of achievements at Fxview.”“This award is a testament to all the efforts of our team who have worked so hard to ensure that Fxview continues to lead the way in Africa through delivering exceptional products to clients in the retail trading space.”“It is a strong endorsement of trading environment, which offers a whole host of other advantages, including lightning-fast execution, razor-thin spreads, and deep liquidity on forex, stocks, indices, and commodities that empower clients to trade with confidence and precision.”A bright future aheadLooking ahead, Fxview remains dedicated to its mission of providing best-in-class services to traders across the globe. With a focus on continuous improvement and customer satisfaction, Fxview sets new standards in the FX industry, ensuring that its traders always have access to exceptional trading conditions.For more information, please visit Fxview's website.All references to “Fxview” in this article refers to Finvasia Capital South Africa (Pty) Ltd. Finvasia Capital South Africa (Pty) Ltd is a company registered on 3rd Floor, 34 Whiteley Blvd,Melrose Arch, Birnam, 2196, with license number 50410 and regulated by the Financial Sector Conduct Authority. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.This article was written by FM Contributors at www.financemagnates.com.
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Robinhood Markets, Inc. has announced its agreement toacquire Bitstamp Ltd, a global cryptocurrency exchange. Founded in 2011,Bitstamp operates offices in Luxembourg, the UK, Slovenia, Singapore, and theUS.The acquisition is expected to expedite Robinhood Crypto'sglobal expansion. Bitstamp holds over 50 active licenses and registrationsworldwide, attracting customers from the EU, UK, US, and Asia to Robinhood'splatform.Entering Institutional Crypto RealmThis acquisition marks Robinhood's venture into theinstitutional business, leveraging Bitstamp's reputation for reliable tradeexecution, deep order books, and leading API connectivity. Bitstamp'sinstitutional offerings, including white label solution Bitstamp-as-a-service,institutional lending, and staking, will provide Robinhood with establishedrelationships and industry-leading products.Bitstamp's core spot exchange offers over 85 tradableassets, along with products like staking and lending, which will enhanceRobinhood's Crypto offering.We’re accelerating Robinhood Crypto’s worldwide expansion. Robinhood has officially entered into an agreement to acquire @Bitstamp, a global cryptocurrency exchange with customers across the EU, UK, US and Asia. More details: https://t.co/wk3x02z0rU pic.twitter.com/aadKzhCxlx— Robinhood (@RobinhoodApp) June 6, 2024Pending Regulatory Green LightThe final deal consideration is expected to be approximately$200 million in cash, subject to customary purchase price adjustments. Theacquisition is pending regulatory approvals and other closing conditions, witha projected completion in the first half of 2025. Barclays Capital Inc. actedas the exclusive financial advisor to Robinhood, while Galaxy Digital PartnersLLC advised Bitstamp.This article was written by Tareq Sikder at www.financemagnates.com.
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<a href="https://www.ironfx.com/en/">IronFX</a>, an award-winning global leader in online trading, is setting the standard in client experience through its Complete Trader’s Toolkit – the ultimate destination of choice for traders of all experience levels.Through its holistic toolkit, the broker presents unparalleled trading features to its clients, including advanced trading platforms like MetaTrader 4 (MT4), generous ongoing promotions, and a wealth of educational resources via the IronFX Academy.Serving more than 1.5 million clients across 180 countries worldwide, IronFX’s enhanced product offering arms traders with the best available trading tools, giving them the foundation they need to enter the global markets with confidence.Bespoke trading platformsIronFX presents a comprehensive suite of trading platforms including the internationally popular MetaTrader 4 (MT4), one of the world’s most reliable and advanced options on the market, renowned for its user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs).Clients can enjoy instant access to hundreds of CFD assets and trade the world’s largest markets on a single system, with more than 500 instruments from 6 different available asset classes including forex, metals, indices, commodities, futures, and shares.The broker offers the ultimate trading choice, tailored to meet the needs of different traders, which is demonstrated through the broad array of platform options provided. With IronFX, clients can choose from MT4, MT4 Web Trader and the firm’s own proprietary Personal Multi Account Manager (PMAM), with each application able to feature standard or custom Virtual Private Server (VPS) Hosting integration, available upon request.Ultimate trading convenienceIn testament to its solid emphasis on delivering innovative trading solutions, IronFX facilitates on the go trading through its powerful mobile app, available on both Android and iOS devices. This brings the full functionality of IronFX's desktop platform to the user’s fingertips, allowing traders to manage their portfolios and stay tuned in to the markets wherever they are in the world.Featuring an intuitive interface, real-time market data, advanced charting tools, and a variety of technical indicators, the app provides traders with greater trading flexibility. This not only enables them to maintain their accounts from anywhere, but also provides a convenient way to react swiftly to sudden price movements as and when the market direction changes.Importantly, the IronFX mobile app ensures a seamless trading experience thanks to its full synchronisation with the desktop platform, meaning traders can switch between devices without missing a beat, with all data, preferences, and trading history being consistently updated.Comprehensive educational resourcesIronFX has a solid reputation as a broker that is truly committed to enhancing traders’ knowledge, as shown through its extensive catalogue of educational resources, accessible for free via a<a href="https://academy.ironfx.com/en/"> dedicated section</a> on its website.Known as the IronFX Academy, it includes well-structured forex courses, covering everything from the basics up to advanced trading strategies, so that beginner traders can explore the markets at their own pace.There is also a sizable bank of online visual content, including trading videos, webinars, and podcasts, which offer fascinating insights into a range of subjects, including market trends, trading tips, techniques, market analysis, as well as featuring numerous interviews with leading industry professionals.For those who prefer text materials, IronFX has all bases covered, thanks to a range of published eBooks, articles, and a full glossary of terms. These written resources provide an in-depth focus on a range of important aspects of trading, such as trading strategies, technical analysis, and fundamental analysis, helping traders to continuously expand their knowledge pool.Exclusive bonuses…
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<a href="https://b2binpay.com/">B2BinPay</a>, the world-leading blockchain platform, has just become even better. The latest version introduces TRX staking and expands blockchain support, offering clients greater flexibility and efficiency. Here is a review of how these new features enhance the experience with B2BinPay.TRX Staking – Earn Passive Income!A key highlight of <a href="https://b2binpay.com/en/b2binpay-v20-enhancing-functionality-with-trx-staking-and-broader-blockchain-support/">B2BinPay v20</a> is the introduction of TRX Staking, built on the TRON community's advanced Stake 2.0 mechanism. This new approach surpasses the previous Stake 1.0 by offering greater flexibility, simplified user interactions, and enhanced efficiency in resource delegation and utilisation.TRX staking allows B2BinPay clients to stake any amount of TRX and earn a passive annual yield of 3-5% (subject to network conditions). Additionally, staking TRX can significantly reduce transaction fees on the TRON network by converting staked TRX into Bandwidth and Energy, two essential resources.Bandwidth is utilised for transaction processing capacity, while Energy powers smart contract operations. By staking TRX and acquiring these resources, businesses and individuals can optimise their transaction efficiency and lower operational costs, gaining a distinct competitive advantage in the digital asset landscape.TRX Staking through B2BinPay is a simple process:Firstly, convert your TRX into either Bandwidth or Energy, depending on the particular processing requirements of your selected asset type.Following this, allocate your votes, which are converted from Bandwidth or Energy to SR.Extended Blockchain Support with Optimism, Arbitrum, and BaseExpanding upon the prior integration of <a href="https://b2binpay.com/en/b2binpay-v19-is-here/">Polygon and Avalanche</a>, B2BinPay v20 broadens its blockchain support by introducing Optimism, Arbitrum, and Base. These additions are particularly noteworthy as they provide native support for stablecoins.OptimismOptimism is a Layer 2 solution that boosts the scalability of the Ethereum main network through transaction batching. By collecting transaction data from the Ethereum blockchain, consolidating it into batches, and then validating it on the Ethereum mainnet, Optimism significantly reduces fees, which are typically one-tenth of Ethereum's base level. Since its inception in 2021, Optimism has enabled users to save over $1 billion in gas payments, establishing itself as one of the most cost-effective blockchain solutions available.ArbitrumArbitrum is an Ethereum scaling solution designed to enable greater transaction throughput at reduced costs. Leveraging the same tooling as Ethereum, it offers developers a seamless and secure environment for swiftly deploying DApps on the Arbitrum network. This integration is particularly advantageous for stablecoin users, as it broadens available options.BaseCrafted by Coinbase, Base utilises Optimism's OP Stack to bolster compatibility with EVM. This open-source rollup facilitates the support of stablecoins and streamlines code deployment across Ethereum and compatible blockchains.The Significance of Expanded Blockchain Support for ClientsWith the integration of more blockchains into B2BinPay, clients gain a broader array of choices for their transactions, aligning their business needs with the appropriate technology. Specifically, B2BinPay now supports:USDT on 7 networks:Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, and Arbitrum.USDC on 8 networks: Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, Arbitrum, and Base.Bridged USDC on 4 networks: Avalanche, Polygon, Optimism, and Arbitrum.Here are several other use cases demonstrating how the expansion of blockchain support can benefit clients.Facilitating Withdrawals for End-UsersWhen an end-user necessitates withdrawal in a currency that is not readily accessible, B2BinPay can promptly convert assets into the required currency and manage…
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Two individuals have filed a civil claim against HongKong-based cryptocurrency exchange JPEX, seeking to recover over HK$1.85million. This lawsuit is the first civil action related to an alleged fraudcase involving more than 2,600 victims with total losses amounting to HK$1.6billion. A lawmaker indicated that ten more victims plan to take similar legalactions.Filing Lawsuit over Missing FundsThe plaintiffs, Chan Wing-yan and Herbert Lam, filed a writof summons in District Court against seven defendants, including JP-EX CryptoAsset Platform and Web 3.0 Technical Support. These companies allegedlyprovided virtual asset services under the JPEX brand since 2021. Felix Chiu, avirtual asset manager at over-the-counter crypto exchange Coingaroo, andunidentified holders of three JPEX wallets are also named as defendants. According to the legal documents, Wing-yan registered twoaccounts with JPEX in July and August last year and opened a third account in Lam’sname. Wing-yan’s decision was influenced by seminars and promotional materialsfrom social media influencer Joseph Lam, who claimed to be a partner of JPEXand was arrested in September over conspiracy to defraud but has not beencharged.During this period, Wing-yan transferred HK$850,000 and paidan additional HK$1 million in cash to Chiu to purchase Tether cryptocurrency(USDT) for her JPEX accounts. She also transferred 6219.6 USDT (HK$48,575) fromanother cryptocurrency platform to JPEX. The total deposits amounted to 247,498USDT (HK$1.93 million).First Civil Lawsuit Filed Against #Crypto Exchange #JPEX for Alleged Fraud #NewsBytes https://t.co/9YFCJ1OZrV— Bitcoin.com News (@BTCTN) June 5, 2024Police Report 73 ArrestsThe plaintiffs allege they were unable to withdraw theirassets after JPEX imposed a 99 percent withdrawal fee last September when theSecurities and Futures Commission identified JPEX as unlicensed. Theydiscovered their assets had been transferred to unknown wallets shortly aftereach deposit, leaving their accounts nearly empty.The plaintiffs also stated they lacked access to the privatekeys necessary to manage their crypto-assets, which were controlled by thedefendants. They have lodged three alternative claims, one seeking to recoverabout 226,013 USDT allegedly converted into other cryptocurrencies withoutauthorization. They have also requested the court to trace the assets and issuean injunction to prevent the defendants from dealing with them.Police reported that 73 individuals had been arrested inconnection to the JPEX scandal, all of whom were granted bail and must reportto the police regularly.This article was written by Tareq Sikder at www.financemagnates.com.
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Issuer processing powerhouse Enfuce announced a groundbreaking partnership with Síminn Pay, thefintech arm of Síminn, the largest telecom service provider in Iceland. Enfuceis launching a new, <a href="https://enfuce.com/product/issue-payment-card/">virtual commercial cardprogramme</a> for Síminn Pay, equipped with aCO2 calculator by climate action platform Deedster, to help itscommercial clients reduce their carbon footprints.This announcement follows a series of strategicpartnerships unveiled by Enfuce, including collaborations with French worktechunicornSwile in France tolaunch an innovative all-in-one employee benefits card,and allpay, the UK’s leader in payment services forthe public and social housing sectors to modernise payments in the UK publicsector, showcasing Enfuce’s strong growth across Europe.This seemingly innocuous addition of a carbonfootprint tracker signifies a potentially significant shift in the paymentsindustry. Traditionally, the environmental cost of financial transactions hasremained largely invisible to consumers and businesses alike. With Enfuce andSíminn Pay's initiative, however, environmental impact is no longer relegatedto the realm of afterthought. Businesses can now gain real-time insights intothe carbon footprint associated with their purchases, empowering them to make data-drivendecisions that minimize their environmental impact.With this new partnership, Síminn Pay, with asubstantial business client base of around 14,000 in Iceland, is introducing acommercial card solution that will provide an easy onboarding process andaccessible credit lines for Síminn Pay’s customers. The new open loopMastercard credit card, sponsored by Enfuce, is a virtual card compatible withApple Pay and Google Pay.While this programme is newly launched, thepartnership between Enfuce and Síminn Pay has already proven successful. SinceNovember 2022, Enfuce has issued 8,000 consumer credit cards for Síminn Pay,enabling its users to make seamless payments. The new commercial card programmestrengthens this relationship, highlighting Síminn Pay’s confidence in Enfuce’ssecure, scalable, and innovative card payment solutions that are modular aswell as cloud-based. This pioneering collaboration also sets a new standardfor sustainability. Síminn Pay is the first Enfuce customer to implement CO2calculation with climate action platform Deedster, as part of a strategicalliance formed with Enfuce in 2023. Enfuce will provide Síminn Pay withauthorization and transaction data related to purchases, which Deedster willuse to calculate the carbon footprint of Síminn Pay’s clients' transactions.This innovative use of advanced analytics and reporting enables Síminn Pay’s clientsto understand the carbon emissions of their business activities and incorporateactionable insights into their own ESG reporting, facilitating more sustainablebusiness decisions.The implications go beyond mere awareness. Businessesincreasingly face pressure from stakeholders and consumers to embracesustainable practices. This card program equips them with a valuable tool todemonstrate their commitment to ESG principles. Transparency around carbon footprint allows businesses to not onlytrack progress towards sustainability goals but also communicate their effortseffectively.The new partnership is just one example of Enfuce’ssector-leading commitment to levelling up ESG in the payments space and beyond.Through its partnership with Deedster, Enfuce is empowering card users tominimise their carbon footprints through impactful initiatives, demonstratingwhat it means to walk the walk when it comes to ESG and how to weavesustainability into the fabric of a business.Monika Liikamaa, Co-Founder andCo-CEO of Enfuce says: "We’re thrilledto be levelling up our long-standing partnership with Síminn Pay, a companythat shares our Nordic values and commitment to sustainability. Thiscollaboration is a testament to our joint vision for a more environmentallyresponsible future and to setting new standards in the fintech and te…
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<a href="https://b2binpay.com/">B2BinPay</a>, the world-leading blockchain platform, has just become even better. The latest version introduces TRX staking and expands blockchain support, offering clients greater flexibility and efficiency. Here is a review of how these new features enhance the experience with B2BinPay.TRX Staking – Earn Passive Income!A key highlight of <a href="https://b2binpay.com/en/b2binpay-v20-enhancing-functionality-with-trx-staking-and-broader-blockchain-support/">B2BinPay v20</a> is the introduction of TRX Staking, built on the TRON community's advanced Stake 2.0 mechanism. This new approach surpasses the previous Stake 1.0 by offering greater flexibility, simplified user interactions, and enhanced efficiency in resource delegation and utilisation.TRX staking allows B2BinPay clients to stake any amount of TRX and earn a passive annual yield of 3-5% (subject to network conditions). Additionally, staking TRX can significantly reduce transaction fees on the TRON network by converting staked TRX into Bandwidth and Energy, two essential resources.Bandwidth is utilised for transaction processing capacity, while Energy powers smart contract operations. By staking TRX and acquiring these resources, businesses and individuals can optimise their transaction efficiency and lower operational costs, gaining a distinct competitive advantage in the digital asset landscape.TRX Staking through B2BinPay is a simple process:Firstly, convert your TRX into either Bandwidth or Energy, depending on the particular processing requirements of your selected asset type.Following this, allocate your votes, which are converted from Bandwidth or Energy to SR.Extended Blockchain Support with Optimism, Arbitrum, and BaseExpanding upon the prior integration of <a href="https://b2binpay.com/en/b2binpay-v19-is-here/">Polygon and Avalanche</a>, B2BinPay v20 broadens its blockchain support by introducing Optimism, Arbitrum, and Base. These additions are particularly noteworthy as they provide native support for stablecoins.OptimismOptimism is a Layer 2 solution that boosts the scalability of the Ethereum main network through transaction batching. By collecting transaction data from the Ethereum blockchain, consolidating it into batches, and then validating it on the Ethereum mainnet, Optimism significantly reduces fees, which are typically one-tenth of Ethereum's base level. Since its inception in 2021, Optimism has enabled users to save over $1 billion in gas payments, establishing itself as one of the most cost-effective blockchain solutions available.ArbitrumArbitrum is an Ethereum scaling solution designed to enable greater transaction throughput at reduced costs. Leveraging the same tooling as Ethereum, it offers developers a seamless and secure environment for swiftly deploying DApps on the Arbitrum network. This integration is particularly advantageous for stablecoin users, as it broadens available options.BaseCrafted by Coinbase, Base utilises Optimism's OP Stack to bolster compatibility with EVM. This open-source rollup facilitates the support of stablecoins and streamlines code deployment across Ethereum and compatible blockchains.The Significance of Expanded Blockchain Support for ClientsWith the integration of more blockchains into B2BinPay, clients gain a broader array of choices for their transactions, aligning their business needs with the appropriate technology. Specifically, B2BinPay now supports:USDT on 7 networks:Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, and Arbitrum.USDC on 8 networks: Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, Arbitrum, and Base.Bridged USDC on 4 networks: Avalanche, Polygon, Optimism, and Arbitrum.Here are several other use cases demonstrating how the expansion of blockchain support can benefit clients.Facilitating Withdrawals for End-UsersWhen an end-user necessitates withdrawal in a currency that is not readily accessible, B2BinPay can promptly convert assets into the required currency and manage…
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