Markets

Asian countries are coming up with new, faster, and simpler ways of making international payments, fully adopting new financial technologies. The newest example of this includes the central banks of Malaysia and Singapore, which launched a unified Quick Response (QR)...

Rocket-making company Virgin Orbit Holdings recently announced some bad news, revealing that it has to lay off 85% of its staff. The company revealed yesterday, March 30th, that this is necessary as it was not able to raise new investments....

Yesterday, March 30th, China responded to the US Treasury Secretary’s recent remarks about its lending activities, calling such statements irresponsible and unreasonable. The statement that the country addressed was actually a criticism of Beijing’s lending practices. Yellen remarked that China’s...

Wells Fargo & Co is finally going to resolve an old and lengthy case by paying a $97.8 million fine for inadequate oversight of its compliance risks. Due to its poor practices, the company ended up violating US sanctions against...

An investigation by the US Senate Finance Committee has revealed that troubled Swiss bank Credit Suisse breached a 2014 plea deal agreement with the US Department of Justice. The investigation lasted for two years, with the report showing that the...

The Thailand Securities and Exchange Commission (SEC) is considering lifting the retail investment limit imposed on initial coin offerings (ICO). The regulator currently has a limit of 300,000 baht, equivalent to around $8,800, for ICOs. Lifting the limit is aimed...

Gemini, one of the leading cryptocurrency exchanges owned by the Winklevoss twins, is currently assessing the possibility of launching a global crypto derivatives platform. The development comes amid prior reports that Coinbase, the largest exchange in the US, was looking...

Axi, a forex and contracts-for-difference (CFD) brokerage firm based in Australia, has announced extending its sports partnership deal with Manchester City FC. The broker has also extended its sponsorship rights to the Manchester City women's team. Axi extends sports partnership...

The European Securities and Markets Authority (ESMA) has shared its views on fractional shares. The financial markets regulator for the European Union noted that the term "fractional shares" misled investors as they could not comprehend the nature of these financial...

The Australian division of Saxo Bank has expanded its product offerings following the launch of SaxoSelect. SaxoSelect is a suite containing managed portfolios that target self-directed investors and self-managed funds. Saxo Australia launched SaxoSelect SaxoSelect is a service that the...

The former CEO of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, is facing an additional charge of bribing Chinese officials. US prosecutors are charging Bankman-Fried with conspiracy to violate the Foreign Corrupt Practices Act, which contains anti-bribery provisions. Sam Bankman-Fried faces...

Robinhood Securities, one of the most popular retail trading platforms, has amended its credit agreement with a bank syndicate. It marks the second time that the California-based brokerage platform is amending the credit agreement. Robinhood Securities amends the credit facility...

CMC Markets has released its expected financial results for the fiscal year 2023, ending on March 31. The brokerage firm anticipates revenues for the period to range between £280M and £290M. CMC Markets anticipates a net operating income of £290M...

Cobalt, a company owned by United Fintech, has announced plans to rebrand and relaunch its services to CobaltFX. The firm is trying to focus solely on the foreign exchange market. Cobalt rebrands to CobaltFX The founder of the rebranded CobaltFX...

The increasing prominence of cryptocurrencies might disrupt the banking system in Africa. Cryptocurrencies are gaining popularity in Africa because moving money on the continent is expensive and complicated. Bitcoin is disrupting the banking system Access to commercial bank branches in...