Markets
Saxo Bank’s Co-Founder Places Funds Into Skynet Trading
Saxo Bank’s co-founder, Lars Seier Christensen, has invested an unannounced amount of money into Skynet Trading, through Seier Capital, the bank’s investment arm. According to the report, Skynet also received funding from Edessa Capital. The two investors become the first...
Elon Musk Plans To Add Bank Account Feature To X Platform
Elon Musk is planning to revolutionize banking with X (formerly Twitter). By securing money transmitter permits in half of the US states, X is set to provide its users with an innovative financial experience, merging banking services with social media....
The Federal Reserve Moves To Establish Control Over Crypto’s Wild West
The promise of cryptocurrency's decentralization has inevitably led to conflicts with centralized institutions. The most recent development in this ongoing battle emerges in the guise of the Lummis-Gillibrand Payment Stablecoin Act. This proposed law comes in the mix of cryptocurrency...
CySEC Removes Leverate’s ICF Membership and CIF Authorization
The Cyprus Securities and Exchange Commission (CySEC) released a public statement regarding the Investors Compensation Fund (ICF). It addressed the revocation of Leverate Financial Services Ltd's membership status. According to the announcement, the removal of Leverate’s ICF membership does not...
UniCredit Partners With Mastercard To Roll Out Touch Cards
UniCredit, in partnership with Mastercard, has unveiled its enhanced pre-paid, credit, and debit cards incorporating the Mastercard Touch Card technology. This project seeks to improve accessibility for visually impaired individuals. The Mastercard Touch Card implements features designed to aid visually...
CFI UAE Under New Leadership With Jareer Hiary As Chief Executive Officer
CFI Financial Markets, the UAE branch of CFI Financial Group, has declared a change in leadership, with Jareer Hiary assuming the position of Chief Executive Officer. Hiary will replace Nidal Abdel Hadi, who will now concentrate on personal projects. This...
Shareholder Approval Secured for NAGA and CAPEX.com Merger
The stakeholders of publicly listed NAGA GROUP AG (XETRA: N4G) have ratified the consolidation of the brokerage firm with CAPEX.com. A staggering 99.81 percent of NAGA shareholders expressed their support for the merger during the extraordinary general assembly held on...
Midas Investment Platform Eyes MENA Expansion With $45 Million Boost
Midas, a fintech company that grants millions of Turkish citizens access to investing markets, revealed last week that it secured $45 million in a Series A financing round. The round was spearheaded by Canada's Portage. The investment round also included...
ASIC Revokes Financial Services License of Retail Broker JB Markets
The Australian Securities and Investments Commission (ASIC) has canceled the license of JB Markets Ltd. According to the announcement, the company did not maintain adequate resources and failed to meet financial requirements. ASIC revoked the license after the platform’s license was suspended...
Investment Platform Public Sets To Acquire Stocktwits’ Brokerage Accounts
Major investment platform Public has made a move to purchase the TradeApp investment accounts of Stocktwits, a platform for direct discussions and news about cryptocurrencies and stocks. The purchase will assist Public in developing its brokerage services, according to the...
Australian Court Orders The Dissolution Of Prospero Markets
The Federal Court of Australia has provided liquidators for Prospero Markets Pty Ltd. The Australian Court made the move as major officials of the platform are faced with charges concerning financial fraud of more than $200 million. The decision comes...
Financial Commission Welcomes Orfinex As Approved Broker
Orfinex, a Multi-asset brokerage company, is now part of the self-regulatory organization of the Financial Commission. This endorsement assures traders that the company adheres to the commission's quality benchmarks. Orfinex's recognition as an Approved Broker Member came into effect on...
Brazil Pioneers Financial Inclusion Efforts In Latin America
In Latin America, Brazil is at the forefront of financial accessibility with 70% of people using credit or debit cards. The nation has seen 55% card usage and a high level of Instant money transfers. This Promising development is because...
Interactive Brokers Expands Product Portfolio with CFDs in Japan
Interactive Brokers has added more investment options for Japanese customers by including CFDs for US stocks. The Chief Executive Officer of Interactive Brokers Securities, Dan Kerrigan, stated that the team is happy to give its Japanese customers more options by...
Cypriot regulator CySEC Imposes €360,000 Fine On FXORO Parent Company
The Cyprus Securities and Exchange Commission (CySEC) has penalized MCA Intelifunds with a fine of €360,000 for several breaches of Cypriot investment regulations. This fine was reached following a September 2022 investigation that exposed multiple failures in adherence at the...
