Ramp Network expands its cryptoasset purchasing services to all 50 U.S. states and the District of Columbia, making it easier for millions of Americans to access digital assets through streamlined onboarding solutions. Ramp Network, a fintech company that develops payment infrastructure connecting cryptocurrencies to the global financial system, has expanded its services to cover all 50 U.S. states, including the District of Columbia, adding support for 17 new states. This expansion makes Ramp a leading on-ramp provider for crypto purchases across the entire United States. Previously, Ramp Network’s crypto onboarding services were accessible in 33 states and the District of Columbia, allowing users to buy and sell over 100 cryptocurrencies with rapid delivery and high purchase limits. The expansion opens the door to more users, facilitating purchases with bank cards and Apple Pay. With this latest expansion, Ramp Network now supports simplified crypto onboarding for over 100 million additional users in states including Alaska, Alabama, Arkansas, Florida, Kentucky, Louisiana, Maryland, Minnesota, Nevada, New Jersey, New Mexico, New York, North Dakota, Ohio, Oregon, Vermont, and Washington. The platform now offers seamless access to Web3 services in all 50 states and the District of Columbia. Users in these newly added states can purchase popular crypto assets such as Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), USD Coin (USDC), and Tether (USDT), among others. The specific cryptocurrencies available may vary by state due to differing regulatory requirements. “The U.S. market is Ramp’s largest, and we have always prioritized delivering the best experience to our American users. Previously, our services were available in 33 states, but today marks a significant milestone as we expand our reach to all 50 states. We’re proud to offer our top-tier services to launch in traditionally challenging markets like New York, Hawaii, and Louisiana” said Szymon Sypniewicz, CEO and Co-Founder of Ramp Network. “This expansion allows us to serve all Americans but also enables hundreds of our partners to onboard over 100 million people in the now accessible states. We’re thrilled to offer nationwide access and look forward to welcoming new users to our platform” continued Sypniewicz. Interest in cryptocurrencies among Americans is growing. A report from Coinbase reveals that 58% of Americans are familiar with Bitcoin, and 15% are somewhat or very likely to purchase crypto in the near future. With 70% of U.S. states already implementing regulations around cryptocurrencies and blockchain, the demand for Ramp’s easy-to-use crypto on-ramp solutions is poised to increase. Ramp Network is a key player in fintech infrastructure, providing on- and off-ramp services that simplify the process of acquiring digital assets. Its API-based tools allow developers to integrate straightforward crypto on-ramp and off-ramp features directly into their decentralized applications (dApps). Notable partners include popular crypto wallets like MetaMask, Trust Wallet, and Exodus, which utilize Ramp’s on-ramp within their platforms. Ramp operates in over 150 countries and supports crypto purchases in 42 fiat currencies, offering multiple payment methods including bank transfers, credit/debit cards, Apple Pay, Google Pay, SEPA & SEPA Instant, and Pix (in Brazil). The company is also working to add support for local payment options in Argentina, Mexico, India, and more. In its mission to bring Web3 to a global audience, Ramp Network is continually developing new solutions to enhance the crypto onboarding experience. Recently, Ramp launched a document-free verification system in Brazil, enabling new users to purchase crypto faster and with higher limits while maintaining stringent security standards. This innovative feature is currently available in Brazil, with plans for a broader global rollout in the near future.  For more information, visit Ramp Network’s official website.  About Ramp Network Ramp Network is a leading financial technology company dedicated to bridging the gap between the crypto economy and the global financial infrastructure. Specializing in on- and off-ramp solutions, Ramp Network enables seamless conversion between cryptocurrencies and fiat currencies for businesses and individuals in over 150 countries. The platform is fully integrated with major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more, offering a streamlined and user-friendly experience for crypto transactions worldwide. More about Ramp Network’s services at Ramp Network.

Advantage Futures, one of the industry’s highest volume futures commission merchants (FCMs), processing over 5.3 billion contracts since the firm’s launch in 2003, has migrated to ION’s cleared derivatives trade processing platform, XTP. ION’s continued investment in XTP’s capabilities has helped it onboard a rapidly growing number of futures commission merchants and global banks. XTP will allow Advantage Futures to scale its business even further and create a more efficient, unified experience for clients with real-time visibility of positions, commissions, fees, margins, cash flows, and risk. “We now deliver real-time data and automation capabilities” Advantage Futures, which processed over 325 million contracts in 2023, serves a diverse client base, including professional traders, institutional clients, exchange-traded funds, foreign and domestic non-clearing futures brokers, hedge funds, and individual traders. Its clients are domiciled in 64 countries, territories, and jurisdictions and can access over 20 futures exchanges around the world. The Chicago-based FCM operates an agency model brokerage and does not trade for its own account; thereby avoiding a conflict of interest by not competing with client trading. The agency broker has been using the same post-trade technology platform for decades. By migrating to ION’s XTP, legacy technology will be a thing of the past as the Chicago-based firm leverages ION’s flexible, modern solution that provides extensive automation across clearing and settlement workflows. Joe Guinan, Chairman and CEO of Advantage Futures, said: “In the two decades since founding Advantage Futures, we’ve expanded from a small boutique to among the industry’s highest volume clearing firms serving some of the world’s high-volume traders. As we continue to scale the business, we prioritize giving clients best-in-class, customized technology to seamlessly navigate an increasingly complex market. Having successfully completed the migration to ION’s XTP, we now deliver real-time data and automation capabilities, meeting client needs to process ever-growing trade volumes quickly and efficiently.” Francesco Margini, Chief Product Officer for Cleared Derivatives, ION Markets, said: “We are very pleased about our partnership with Advantage Futures, one of the industry’s highest volume clearing firms. The transition from their legacy back-office solution to XTP was completed in record time, leveraging ION’s established methodology and tools developed to manage large and complex migration projects. The Advantage-XTP rollout demonstrates ION’s proven track record in bringing new products to the market and the strong discipline required for a timely and successful delivery to customers.”

XTB has announced the appointment of Salma Tabbech as its new Sales Director for the Middle East and North Africa (MENA) region. The global online trading provider will leverage Salma Tabbech’s extensive years of experience in the UAE and global financial services industry, which are expected to be instrumental in driving the company’s growth and enhancing its market position globally. Salma Tabbech joins XTB  from ADSS Salma Tabbech joins XTB after nearly six years at ADSS, most recently under the role of Premier Client Manager. Throughout her career in strategic relationship management positions, Tabbech has been recognized for her ability to build and maintain strategic relationships with key stakeholders in the financial services sector. Her deep understanding of the industry’s complexities and her passion for leading clients to success in the international trading world through technology have enabled her to manage the demands of highly discerning investor clients. Salma’s client-centric approach and strategic mindset align perfectly with XTB’s mission to provide exceptional service and innovative solutions to its clients. “Joining the internationally recognized XTB team is quite a distinction” Achraf Drid, Managing Director at XTB MENA, said: “We are thrilled to welcome Salma to the XTB family. Her proven ability to build strategic relationships and deliver outstanding results for international traders make her the ideal person to lead our sales team. We are confident that under her leadership, XTB will continue to strengthen its market presence and achieve new levels of success.” Salma Tabbech, XTB’s new Sales Director at XTB MENA, commented: “Having devoted my professional life to understanding the international environment of modern trading and the needs of global investors in Dubai and abroad, joining the internationally recognized XTB team is quite a distinction. I’m eager to evolve with this challenge and bring my expertise on long-lasting client relationships and innovative approach to trading to the table.” Founded in Poland in 2004, XTB currently supports over 1 million customers globally, providing an online investing platform that offers access to 6,200+ instruments including stocks, ETFs, CFDs based on currency pairs, commodities, indices, stocks, ETFs, and cryptocurrencies. XTB recently launched Investment Plans, a long-term passive investing product that allows users to unlock the growing potential of ETFs and diversify their portfolios effectively. The broker also offers interest rates on uninvested funds enabling investors to put their money to work and benefit even when they aren’t actively investing. The brokerage firm offers an extensive library of educational materials, videos, webinars, and courses to help customers become better investors irrespective of their trading experience. Its customer service team provides support in 18 languages and is available 24/5 via email, chat, or phone. XTB is headquartered in Poland with offices in multiple countries across the globe, including the UK, Germany, Romania, Spain, Czech Republic, Slovakia, Portugal, France, Dubai and Chile. XTB MENA is is regulated by the Dubai Financial Services Authority. XTB to launch bonds, retirement products and an e-wallet It was in April that XTB celebrated the “one million customers” milestone. Since the end of 2021, the customer base has doubled, mirroring the global movement towards more accessible investing. According to the company, XTB onboarded 312,000 new clients in 2023 and reported a consolidated net profit of EUR 175 million and consolidated revenues of EUR 351 million. Three years ago XTB decided to broaden its Contract for Difference (CFD) offerings to include stocks and ETFs. The fast growth experienced by the broker is widely attributed to that strategy, coupled with a strong marketing presence across the media, and a newfound market awareness by retail investors since the pandemic. XTB now plans to introduce new products, including bonds, retirement products, and an e-wallet with a multi-currency card, which, together with rapid geographic expansion namely in the MENA region, is likely to drive further growth. XTB’s 2024 roadmap includes several enhancements and new offerings aimed at transforming the company from a CFD broker to a universal investment app. The second quarter of 2024 saw the introduction of bonds to XTB’s passive portfolio, offering government and corporate bonds from globally recognized corporations. Additionally, a new service called Social will launch in Poland, allowing users to follow successful investors and receive insights into their portfolios and transactions. For long-term investing, XTB plans to launch a retirement product in Poland in the third quarter of 2024 and will explore the possibility of similar offerings in other markets. By the end of the year, the company aims to introduce an integrated virtual wallet with a multi-currency card, further enhancing its position as a leading investment app in Europe and beyond.

Digital Vega and CME Group have announced the launch of a new FX options block trading service, currently available for client testing. The leading FX Options e-trading platform joined forces with CME Group to allow buy-side firms to use existing OTC workflows on its multi-bank platform Medusa to request quotes and trade blocks of FX options on futures. The model offered by Digital Vega and CME Group can be significantly more margin efficient versus traditional OTC options for those subject to Uncleared Margin Rules. Market participants will leverage Digital Vega’s connectivity, GUI, and workflow technology to request prices in CME Group’s centrally cleared FX options from multiple Liquidity Providers in competition. “Pricing and execution is in a format familiar to OTC traders” Chris Povey, Executive Director and Head of FX Options, CME Group, said: “Enabling customers to negotiate and trade risk-transfer blocks via Digital Vega’s Medusa platform is an exciting development in the electronification of the FX options market. This partnership lowers the barriers to entry for buy-side clients looking to gain the margin and operational benefits of our centrally cleared FX options by allowing them to use existing OTC workflows and lean on OTC relationships. In addition, clients could gain access to new liquidity given there is no requirement for bilateral credit relationships.” Mark Suter, Executive Chairman and Co-Founder, Digital Vega, commented: “Trading CME Group’s FX blocks on Digital Vega’s multi-dealer platform, provides a seamless execution solution to both buy-side and sell-side participants. Pricing and execution is in a format familiar to OTC traders, with deep liquidity provided by a broad group of market makers, and booking to a single central counterparty. This mitigates counterparty credit risk and generates potentially significant capital, margin, and operational efficiencies. Transaction reporting to CME ClearPort is automated and immediate, with detailed post-trade reporting and analytics available.” “Our new service provides liquidity access for more clients and market makers to trade with each other without having to establish new bilateral credit agreements, which we expect will result in increased liquidity for the market as a whole. We are encouraging clients to onboard to this service now so that they can fully test the system before they begin trading.”

sino AG, a Germany-based high-end retail brokerage company, has partnered with IG Group subsidiary Spectrum Markets to bring extended trading hours to its clients for the first time. Spectrum Markets is a pan-European trading venue for securities, featuring advanced 24/5 trading capabilities. With Baader Bank acting as an intermediary, sino AG will be able to tap Spectrum’s offering and further elevate its premium service to heavy traders in Germany. Baader Bank acted as an intermediary between Spectrum and Sino AG Sino AG offers two different types of trading tools, which enable clients to trade in real-time using a computer or tablet/smartphone: the mobile app sino X2GO and the desktop platform sino MX-PRO. Clients are able to trade stocks, bonds, futures, derivatives, exchange-traded-funds (ETFs), funds, and currencies on the German Stock Exchange XETRA, EUWAX, Euronext, NASDAQ, NYSE and EUREX, among others. Through this partnership, sino’s clients will now have access to extended trading hours, including after-hours trading in US stocks and other global markets facilitated by Spectrum’s cutting-edge technology. Spectrum provides liquidity to global markets across Europe, which will be complemented by sino’s history of pioneering advancements and commitments to delivering a premium service. This includes offering personalized client support and a robust trading platform. Nicky Maan, CEO of Spectrum Markets, commented: “This collaboration marks an exciting chapter for Spectrum. By joining forces with sino AG, we are expanding our end client reach, offering sino’s book of high-end retail traders a superior hours offering and maximising opportunity in the market.” Neal Feist, Chief Trader of the sino AG, said: “At sino, we are committed to providing an unparalleled brokering experience in all areas to the most demanding heavy traders in Germany. Our partnership with Spectrum represents a significant stride toward enhancing our existing offering. As our clients take advantage of Spectrum’s extended trading hours and liquidity, we remain responsive to their evolving needs, ensuring our product offerings continue to meet these demands.” Baader partnered with Spectrum in July Baader Bank has become a new trading member of Spectrum Markets, the pan-European trading venue for securities catering to the retail segment, since July. Baader has significantly expanded its retail broker client base in recent years, which will help bolster Spectrum’s presence in Germany. The Germany-based securities and banking services company will serve as an intermediary, facilitating clients’ trades on Spectrum Markets’ trading venue. Baader’s brokers will gain access to Spectrum’s pioneering technology with simplified connectivity for new trading partners joining Spectrum, which speeds up the onboarding process and reduces unnecessary costs. Another key driver of the partnership is the growing demand for extended trading hours among Baader clients, which is a trend Spectrum sees gathering momentum across the European retail investment landscape. Trading via Spectrum enables retail investors to trade outside of traditional hours, thanks to the venue’s 24/5 trading capabilities, while remaining within a regulated trading environment. Spectrum partnered with UniCredit, Directa, ICE Data Services In 2023, its fourth year of operation, Spectrum undertook several initiatives and formed new partnerships. The platform welcomed UniCredit Bank GmbH as a member and expanded its range of products available to retail investors. The number of instruments on Spectrum for retail traders in Europe saw a big increase, indicating a broadening of its offerings. Additionally, Spectrum formed a partnership with Directa, an independent Italian retail broker, and collaborated with ICE Data Services Italy, a subsidiary of Intercontinental Exchange, Inc., to improve the accessibility of its reference data. Spectrum also joined the German Structured Securities Association and the Italian Association of Certificates and Investment Products, aligning itself more closely with European securities associations. In 2023, the trading venue saw its trading volume increase by 14% compared to the previous year, with 1.62 billion securities traded in 2023, up from 1.42 billion. This increase in trading volume occurred despite widespread market uncertainties and challenging conditions across the industry. An interesting takeaway from the third quarter is the shift in trading patterns, with 34% of trades taking place outside of the regular trading hours. In terms of product popularity, indices led the charge with 87.6% of the trades, followed by currency pairs, commodities, equities, and cryptocurrency-based products. The DAX 40, NASDAQ 100, and S&P 500 emerged as the top-traded underlying assets. Headquartered in Frankfurt, Germany, Spectrum Markets offers 24/5 trading and innovative products like Turbo24. It operates under MiFID II regulations, supervised by BaFin, and focuses on transparency, integration, and openness. Additionally, Spectrum publishes SERIX, a pan-European retail investor sentiment index. Spectrum Markets is a subsidiary of IG Group and aims to enhance the trading experience for retail investors in Europe, offering a range of products and services tailored to their needs.

Alphabet Inc. (GOOGL) shares have experienced a significant decline, falling below the $150 mark for the first time since late March. The ongoing legal battle with the U.S. Department of Justice (DOJ) has been a major catalyst for this downward pressure. The DOJ alleges that Google has abused its dominant position in the digital advertising market, stifling competition and forcing advertisers and publishers to use Google’s services. While Google maintains its innocence, the legal proceedings could have a substantial impact on the company’s stock price. A technical analysis of GOOGL shares reveals a bearish outlook. The price has broken below the lower boundary of an upward channel and entered oversold territory. Short-term price movement has also formed a downward channel, indicating further bearish pressure. However, potential support levels around $150 and $146 could offer some respite. The lower boundary of the red channel is another potential support level. The outcome of the legal battle will be a crucial factor in determining the future trajectory of GOOGL shares. A favorable resolution could provide a boost to the stock price, while a negative outcome could exacerbate downward pressure. FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Tether, the issuer of the world’s largest stablecoin, USDT, has made a noteworthy investment in the South American agricultural firm Adecoagro SA, acquiring shares worth about $102 million between July 29 and August 16. The transaction, which represents 9.8% of Adecoagro’s total outstanding shares, makes Tether the third-largest shareholder of the company, according to recent filings. Adecoagro, which is listed on the Nasdaq under the ticker AGRO, is Argentina’s leading producer of milk and rice. The company has a market capitalization of just under $1.2 billion, also engages in sugarcane farming and renewable energy in Brazil, as well as planting crops like soybeans and corn in Argentina and Uruguay. Tether expands its investment portfolio A spokesperson for Tether described the investment as part of the company’s strategy to diversify its portfolio and spend profits on varied opportunities. “Tether views land as a crucial asset class, complementing its existing investments in Bitcoin and gold. Land is inherently scarce, provides long-term yield, and has historically served as a safe haven during periods of geopolitical instability,” the spokesperson said. In April, Tether announced a reorganization into four divisions: Tether Finance, overseeing the USDT stablecoin; Tether Data, managing investments in bitcoin mining; Tether Tech, focusing on strategic investments in technology companies; and Tether Edu, leading educational initiatives. It is not clear which division handled the Adecoagro investment. Following a record profit of $5.2 billion in the first half of 2024, Tether revealed plans to double its workforce by 2025, focusing on its development, investment, and compliance teams, according to CEO Paolo Ardoino. The company has also invested in other businesses, such as Taiwan-based crypto exchange XREX and Nasdaq-listed bitcoin miner Bitdeer, as part of its broader strategy to invest in diverse sectors including land, agriculture, and related ventures for sustainable development.  

With market volatility in full swing, investors are searching for profitable opportunities, and DTX Exchange (DTX) is emerging as a strong contender. DTX’s stage 3 presale price of $0.06 has become a key event for investors, marking a significant moment in the exchange industry. DTX Exchange dominates major cryptos facing market volatility, including Toncoin (TON) and Polygon (MATIC). This piece will explore the potential of the recent events at Toncoin (TON) and Polygon (MATIC) and the disruptive impact of the DTX presale, which is often considered the most promising of the season. Toncoin (TON) Seeing Traction After Statement from Telegram CEO Telegram CEO and Toncoin (TON) founder Pavel Durov thanked everyone for their support after his recent arrest in France, where police questioned him for four days. He shared that authorities implied he might be held personally responsible for illegal activities on Telegram due to the platform’s lack of response. Toncoin (TON), the cryptocurrency linked to Telegram, has bounced back after nearly two weeks of declines after the news on Pavel Durov came out. According to Coinmarketcap, Toncoin (TON) has surged almost to the high of $4.9; however, upper-level rejection has been seen afterward. This rise followed Durov’s first public statement since his arrest on August 24. What Are The Changes In Polygon (MATIC) To Pol Transition? Polygon (MATIC), a layer-2 network built on Ethereum, is set to upgrade on Wednesday, replacing its Polygon (MATIC) token with the new Polygon (POL) token. This upgrade offers more flexibility in issuing new supplies. MATIC holders don’t need to worry about a strict deadline for the upgrade. Any staked Polygon (MATIC) will be automatically converted to POL, requiring no extra steps. Polygon (MATIC) Labs CEO Marc Boiron calls POL a “hyperproductive” token. Unlike MATIC, which generates fees only from gas and staking, POL can earn additional fees from activities like securing data availability and decentralizing a sequencer. DTX Exchange Continuing Its Rally Past $2.5 Million DTX Exchange has achieved a solid breakthrough in its presale, which shows the increasing interest in the platform, notably by the investors who want stable cryptocurrency trading. These VIP investors think that DTX Exchange will be a disruptor in the industry with blockchain technology and an innovative business model. DTX Exchange offers traders gas-free trading, thanks to the platform’s low trading costs. The stockpile provides all-in-one features and security functions using the blockchain layer 1 technology. It offers non-custodial wallets, multi-tier accounts, distributive liquidity pools, and access to 120,000 digital assets from different markets, such as forex, cryptocurrencies, equities, and stocks. Through the extraction of liquidity from several sources, DTX Exchange mitigates slippage by incorporating decentralized exchanges’ security with centralized ones’ liquidity. Its community-centered strategy is a booster to traders for asset maximization, particularly with the $0.06 presale price, positioning DTX community members to considerable market opportunities. Learn more: Buy Presale Visit DTX Website Join The DTX Community The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.  The information on this page does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained herein.

LTP, the leading prime broker for digital assets in Asia Pacific, has selected Avelacom to provide low-latency network services for the benefit of its clients – hedge funds, quantitative funds like HFT companies, FoFs, and family offices. Sharper connectivity improves trading speeds and reliability across crypto markets, which is a critical aspect of the fast-evolving crypto trading landscape, thus ensuring maximum uptime and optimal trade execution of global crypto markets. “We can deliver faster and more intelligent on-chain trading experiences” Digital asset institutions served by LTP, which is now connected to global markets via Avelacom’s infrastructure, will get enhanced trading performance through optimized connectivity between centralized (CEX) and decentralized (DEX) markets. Avelacom is a leading provider of low-latency connectivity within the traditional and digital asset industry, boasting an expanding network coverage of crypto venues, with a particularly strong presence in the Asia Pacific region, including the recently added PoPs in Korea. Jack Yang, CEO and co-founder of LTP, said: “We always aim to provide cutting-edge services, prioritize speed, and strengthen redundancy, ensuring that digital asset institutions operate efficiently and effectively across all global 24/7 crypto markets.” Aleksey Larichev, CEO of Avelacom, commented: “This agreement democratizes our low latency solutions, by extending the connectivity edge to a wider audience of crypto clients. By bundling our hardware-based solutions with LTP’s software node systems, we can deliver faster and more intelligent on-chain trading experiences.” Avelacom reduced Europe – Asia latencies Avelacom recently upgraded its core network significantly to the point of optimizing its terrestrial path latencies by up to 8 milliseconds, said the provider of low latency connectivity, IT infrastructure, and data solutions for market making, arbitrage, and liquidity aggregation strategies. The company reduced network latencies between European markets and major East Asian cities Tokyo, Shanghai, and Hong Kong, effectively benefitting key routes between Europe’s hubs (London, Frankfurt, Dublin, Zurich) and major East Asian hubs (Tokyo, Shanghai, and Hong Kong). For example, the latency for the London <> Shanghai route is now less than 125 milliseconds (round-trip delay), compared to the previous industry benchmark of approximately 133 milliseconds. Europe to East Asia routes are growing in demand, driven by increased FX and crypto electronic trading volumes, as well as increased participation from institutional traders. London is the world’s largest currency trading hub, while Tokyo hosts tier 1 crypto venues, is a global price discovery hub for digital assets, as well as being a top tier FX trading destination. Avelacom shortened fiber optic path lengths by up to 140 kilometers The record speeds follow Avelacom’s recent upgrade of its backhaul network by shortening fiber optic path lengths by up to 140 kilometers. The move led to improved network latency for major capital markets across Turkey, the United Arab Emirates, Saudi Arabia, India, Israel, Thailand, Taipei, and Japan. With a global network featuring a robust 100G DWDM backbone core, Avelacom offers direct access to over 80 trading venues across EMEA, APAC, and the Americas, ensuring sub-millisecond speed for market data and order flow across various asset classes, including equities, commodities, FX, crypto, and derivatives. Key financial hubs in the Middle East and East Asia, including Borsa Istanbul, Dubai Gold and Commodity Exchange (DGCX), Saudi Exchange/Tadawul, Tel Aviv Stock Exchange, Thailand SET, Taipei Futures Exchange (TAIFEX), Japan Exchange Group (JSE), and various exchanges in India, are now directly connected through Avelacom’s optimized network. This network provides low latency exchange connectivity, colocation, managed hosting, real-time market data feeds, and order flow, interconnecting these exchanges with global FX, equities, commodities, and derivatives markets. The optimization primarily occurred in the European network segment, crucial for shaping connectivity routes from European and US markets to those in the Middle East and Asia. The shorter and more direct fiber optic paths ensure faster, more reliable data transmission, enhancing overall market connectivity. Avelacom’s Asian PoPs linked to 100+ global data centers In June, Avelacom announced the completion of two new low-latency routes as part of its efforts to further expand connectivity in digital asset markets, this time facilitating the interconnection between Seoul, Hong Kong, and Singapore. The low-latency solutions provider expanded options for crypto trading to/from Seoul <> Singapore, which complements its previously launched Seoul <> Tokyo route. Avelacom’s point-of-presence (PoP) in Seoul is located at the KINX Gasan data center, specifically chosen to provide direct access to the AWS Northeast region, and consequently to South Korea’s biggest cloud-based crypto exchanges. The company recently launched a proprietary low-latency Seoul <> Tokyo route in order to fully interconnect Seoul, Tokyo, Hong Kong, and Singapore. Additionally, these are linked to over 100 global Avelacom PoPs, providing direct access to all global crypto exchanges. This level of connectivity supports time-critical trading strategies, such as arbitrage and market-making trading algorithms, as well as capturing real-time market data feeds. According to Avelacom, all new routes are ready for service with guaranteed latencies of up to microseconds and up to 99.9% network uptime.

Tokocrypto, a subsidiary of Binance and a major cryptocurrency exchange in Indonesia, has obtained a full license as a Physical Crypto Asset Trader (PFAK) from the country’s Commodity Futures Trading Regulatory Agency, Bappebti. Binance, which initially became a majority shareholder in Tokocrypto, acquired the company fully in late 2022. Since 2014, Indonesian crypto exchanges have operated under a “prospective crypto exchange” category. In 2019, Tokocrypto registered as a Prospective Physical Crypto Asset Trader (CPFAK), following a mandate from Bappebti requiring all exchanges to seek full authorization. Tokocrypto is now the third exchange to receive this PFAK license in Indonesia. The license comes amid a regulatory push in Indonesia, which in late 2023 required all crypto exchanges to register with the Commodity Future Exchange (CFX), the world’s first national bourse for crypto assets. The CFX is regulated by Bappebti and functions similarly to a traditional stock exchange but focuses on digital assets. “We are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, a market where 35 prospective crypto exchanges are registered with Bappebti,” Tokocrypto CEO Yudhono said in a statement. Tokocrypto currently holds the top position as the largest exchange by trading volume in Indonesia, with a 43% market share in 2023, according to CoinGecko data. It is followed closely by Indodax, with a 42% share, and Upbit Indonesia, which holds a 15% share. In 2020, Tokocrypto had received an undisclosed investment from Binance as the crypto giant acquired a controlling stake. As Indonesia’s first regulated crypto exchange, the company has been building out new products and services, improving the tech stack and expanding its customer base. Per its CEO, Tokocrypto was eyeing a public market listing in the next two years. Tokocrypto was founded in 2018 just as Indonesia’s crypto market was flourishing with the stated goal of providing lower exchange prices to investors interested in trading crypto. Users on the platform can trade up to 40 digital assets, including top cryptocurrencies, at a trading fee of 0.1 % on the transaction value.  

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook. Highlights this week: British Unemployment, US Inflation rate, ECB interest rate decision Tuesday: British unemployment at 06:00 AM GMT for the month of July is expected to decrease to 4.1% while the claimants are expected to also decrease to 95,500 for the month of August compared to the previous recording of 135,000. Wednesday: British GDP growth at 06:00 AM GMT. The market consensus is that the figure will be increased from 0% to 0.2% month over month.  This might not have a major effect on the dollar since it is for the month of July however it would provide some hints on the overall economic performance of the British economy. US Inflation rate at 12:30 GMT where the expectations are for a decline of around 0.3% reaching 2.6% for the month of August. If this is broadly accurate then it might influence a more dovish stance by the Federal Reserve on their next meeting and therefore creating minor losses for the Dollar at least in the short term. Thursday: ECB Interest rate decision at 12:15 GMT. The market consensus is that the central bank of Europe will make their second rate cut going from the current 4.25% to 4%. On the other hand, a lower rate would create some minor losses for the Euro against its pairs mainly the US dollar. Investors and traders are also focused on the subsequent press conference following the release which will be rather insightful on getting hints on the monetary policy steps ahead. S Producers Price Index (PPI) at 12:30 GMT. Market participants are expecting the figure to come out at 0.2% over 0.1% of the previous reading. If this is confirmed then it could potentially contribute to slightly higher inflation figures in the coming months since higher producers’ costs usually roll down to consumers pushing inflation figures to the upside. USOIL, daily The price of oil is recovering after a significant drop last week, with Brent reaching close to $72 a barrel and West Texas Intermediate above $68. The drop in oil prices was driven by concerns over economic slowdowns in the US and China, which could reduce demand despite ample supply. Market analysts suggest that the recent losses may have been excessive, as indicated by the 14-day relative strength index reaching 33, a level considered oversold. Upcoming reports on demand and weather risks are expected to provide further clarity on the outlook for oil demand. The commitment of traders report shows an uptick in commercial traders hinting that there might be a bullish correction in the near short term. On the technical side, the price has been testing the support area of the 161.8% Fibonacci extension level and the lower band of the Bollinger bands which still holds for now since there is no valid break below it yet. The 50-day moving average is still trading below the slower 100-day moving average validating the bearish trend in the market while the RSI indicator is in the oversold levels hinting that a correction move up might incur in the upcoming sessions. Gold-dollar, daily Gold prices dipped as the dollar strengthened, with investors closely monitoring upcoming U.S. inflation data to assess potential Fed interest rate cuts. Gold price faces selling pressure as the reduced likelihood of a larger rate cut by the Fed boosts US dollar and bond yields. The possibility of a 25 or 50 basis point cut at the upcoming Fed meeting next week hinges on the outcome of the August U.S. consumer price data and Thursday’s Producer Price Index. On the other hand, worries about the US economic downturn and geopolitical tensions limit gold price downside, offering support as a safe-haven asset. From a technical point of view, the price is once again testing the support area of the 23.6% of the daily Fibonacci retracement level without breaking below while the Bollinger bands have shrunk indicating that volatility is somewhat limited. The 50-day moving average is trading well above the 100-day moving average validating the overall bullish trend in the market while the Stochastic oscillator is in neutral levels hinting that the short-term direction of the trend might go either way. Despite potential rate cuts, gold prices are not expected to see a dramatic loss, with key support at $2,470 and resistance at $2,525. Disclaimer: the opinions in this article are personal to the writer and do not reflect those of Exness or Finance Feeds. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

RoboMarkets has announced it will end its retail FX/CFD operation in Europe, regulated by CySEC, while maintaining its institutional business in the EU. The brokerage group’s strategic changes to its European business model, to be implemented by the end of 2024, will see the Frankfurt-based and BaFin-regulated entity, RoboMarkets Deutschland GmbH, to lead the retail business and focusing exclusively on stocks, bonds, and ETFs. No more FX/CFD offering for retail clients. The CySEC-authorized RoboMarekts Ltd will no longer serve retail clients from early 2025 onwards and will transition to an institutional broker. “Given the conditions of the European market, we have decided to focus our European operations and expertise on serving primarily stock investors and traders,” said a spokesperson for RoboMarkets, which will fully discontinue high-risk and leveraged instruments, such as FX and CFDs. The company believes this change will allow it to continuously focus on and permanently optimize the technological, execution, and other top-quality aspects of its products. “We believe the market for self-investing and trading in stocks will grow significantly in Europe” Vanyo Walter, Director of RoboMarkets Deutschland GmbH, commented: “RoboMarkets has strong expertise in IT, liquidity, and other aspects of brokerage, which we aim to leverage to compete effectively in the stock brokerage sector. Our proprietary platform, developed by our IT team and supported by ongoing investments in technology, is designed to benefit our clients and attract more self-directed traders and investors in Europe. “Moving forward, RoboMarkets Deutschland GmbH will continuously expand its stock offerings and markets, optimize trading conditions, and maintain a stable, competitive, and attractive environment for clients. We believe the market for self-investing and trading in stocks will grow significantly in Europe, and we are committed to becoming one of the leading stockbrokers in the region.” RoboMarkets Ltd is a European financial brokerage company with CySEC license number 191/13. RoboMarkets Deutschland GmbH is a BaFin regulated broker with license number 154068. RoboMarkets enhanced its R StocksTrader platform RoboMarkets recently enhanced its R StocksTrader platform for the betterment of its clients’ investment experience. The updates include simplified trading conditions, an expanded list of available stocks, and the launch of a modern trading API. The brokerage firm removed commissions and updated its approach to spreads. Additionally, it expanded the list of available stocks for trading, and launched a trading API for the R StocksTrader platform:  Commission removal and updated approach to spreads RoboMarkets is eliminating all order placement fees on the R StocksTrader platform as part of its commitment to provide the best trading conditions. Clients can now purchase stocks without incurring high minimum commissions, making even small investments more feasible. Instead of commissions, its fees for order execution will be incorporated into the market spread – the difference between the buying and selling price. The spread markup will not exceed 0.3% of the value of stocks and CFDs on stocks, which aligns with the best market standards. The new trading conditions will take effect on 2 September 2024. Expanded stock list: over 150 new instruments RoboMarkets has significantly expanded the list of stocks available for trading by adding over 150 new instruments. Among the newly added companies are: – Reddit Inc. – a social network and news website where users can share and rate content. – Artiva Biotherapeutics Inc. – a biotechnology company specializing in cancer therapy. – Asana, Inc. – a developer of a work management platform. – Y-mAbs Therapeutics, Inc. – a biopharmaceutical company developing antibodies for cancer treatment. Clients can now diversify their investment portfolios by adding shares of the world’s largest companies. Launch of trading API RoboMarkets is launching a trading API on the R StocksTrader platform, enabling clients to trade using algorithms, connect applications, and create their own custom services. The API is suitable for developing and testing strategies on both real and demo accounts, supporting trading in stocks, CFDs, currencies, and other instruments through a single interface. This solution is ideal for both retail and institutional traders and funds. A look at the RoboMarkets history RoboMarkets is a European brokerage firm that began its journey in 2012. Established with a focus on providing access to trading in financial markets, the company initially concentrated on forex trading, aiming to serve European clients. In 2013, RoboMarkets secured a license from the Cyprus Securities and Exchange Commission (CySEC). This regulatory approval allowed the company to operate across the European Economic Area (EEA), enhancing its credibility and ensuring compliance with stringent market standards. Between 2015 and 2017, RoboMarkets expanded its services by introducing a broader range of trading instruments. This expansion included CFDs on various assets such as stocks, indices, commodities, and cryptocurrencies. Alongside popular platforms like MetaTrader 4 and MetaTrader 5, the company also launched its own trading platforms, enhancing the trading experience for its clients. The years 2017 and 2018 marked the launch of RoboMarkets’ proprietary trading platforms, R Trader and WebTrader. R Trader, in particular, stood out for its user-friendly interface and the ability for traders to create custom trading robots without needing programming skills. To boost its market presence, RoboMarkets began sponsoring sports teams and events, including becoming an official sponsor of the BMW M Motorsport team in 2019. This sponsorship helped the company increase its visibility and strengthen its brand reputation. RoboMarkets renewed sponsorship with BMW M Motorsport into the 2024-2025 DTM seasons RoboMarkets recently renewed its sponsorship deal with BMW M Motorsport into the 2024-2025 DTM seasons. The collaboration between the European brokerage company and the BMW-branded motorsport racing team is being extended after a successful 2023 season. The partnership between the two brands was initiated in 2019 and evolved into a Premium Partner relationship for the 2022-2023 seasons. As the DTM (Deutsche Tourenwagen Masters) racing season gears up for its latest iteration, RoboMarkets retains its status as a Premium Partner of BMW M Motorsport. The premium package includes the design of the race car in RoboMarkets’ brand identity, with its logo featured on the bonnet, doors, roof, and boot lips; branding of the media stands and the official team garage walls, and marketing options. The BMW M4 GT3 will be competing in the main race events, adorned with the RoboMarkets brand. The partnership will exclusively focus on the DTM main race. The participation in the DTM Trophy and DTM Classic Cup supplementary programmes are not included in the current sponsorship package, according to the announcement. RoboMarkets renewed with rally team AutoLife from Cyprus RoboMarkets also renewed its platinum partnership with Team AutoLife, a Cyprus-based racing team famous for competing in international rallies and cross-country races. The new sports sponsorship will provide the distinguished European brokerage company with greater visibility as its brand will be displayed in the Abu Dhabi Desert Challenge this year and the Dakar Rally 2025. Team AutoLife, known for its achievements in prestigious races like the Dakar Rally and Greece Offroad, boasts a skilled team led by pilot Roman Starikovich, navigator Bert Heskes, and manager Sijbrand Booij. Since its establishment in 2015, the team has shown resilience and a competitive spirit, securing a commendable second place in the T1 class at the Abu Dhabi Baja Challenge recently. The two entities, RoboMarkets and Team AutoLife, started their relationship in 2019. In the five years since, the multi-asset broker continues to support Team AutoLife’s vision and goals, promising a strong backing as the team faces upcoming challenges and strives to leave a significant mark in motorsports.

FinanceFeeds has released an insightful video interview with executives from Payperless at the Fintech Unplugged 2.0: Afterparty hosted during the iFX EXPO International 2024 in Limassol, Cyprus. The event, sponsored by Sumsub, Nexpay, and Finery Markets, brought together professionals from the fintech, trading, crypto, and blockchain sectors. FinanceFeeds covered the event and our Editor-in-Chief, Nikolai Isayev, had the opportunity to interview Oleg Zyryanov and Nikita Plotnikov, CEO and CPO of Payperless, respectively. Payperless, a self-custodial wallet connected to debit/credit cards Payperless simplifies the process of buying, selling, and managing cryptocurrencies, catering to both seasoned traders and beginners. The crypto wallet allows users to buy crypto with their credit card, complete transactions within minutes, and easily track their portfolio and expenses. “All you need is a phone number to get started – just sign up and start trading!”, the crypto wallet’s website states, adding that clients can use a credit card, debit card, bank transfer, or cryptocurrency exchange to fund their account balance with cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tron (TRX) and more. Payperless can be used to spend cryptocurrency on goods and services worldwide. The platform emphasizes security, compliance, and user-friendly experiences. Having invested heavily in technology and robust security measures to ensure the utmost safety of its users’ assets, Payperless built a scalable and efficient platform, capable of handling the rapidly growing demand for cryptocurrencies. In 2024, the Payperless team focused on developing new solutions for businesses, including an OTC exchange, a crypto payments processing platform, and a banking service, as well as launching an omni-currency payment service provider for regulated high-risk businesses and e-commerce. The first three products have been soft-launched with trusted partners, and the hard launch is expected in Q4 2024. Oleg Zyryanov has a rich background in financial technology. With over 10 years in crypto, he has founded several businesses offering B2B and B2C products within the crypto payments & infrastructure sector, achieving success in both the US and European markets. Nikita Plotnikov has extensive experience in fintech, having held key positions in prominent tech firms prior to joining Payperless. These include Dataduck, Dats.team & Bank of Saint-Petersburg. Those who adapt quickly to EU’s MiCA will lead the market The interview covers the rise in demand for payment processing services driven by institutional adoption of crypto. Payperless executives are optimistic about the trend among the institutional players of integrating crypto payments, which is expected to influence the market. They welcome the Markets in Crypto-Assets Regulation (MiCA), which will come into effect on 31 December 2024 in the European Union and is expected to contribute to ending the legislative ostracization of crypto. There is a link between regulatory compliance and staying ahead of the competition when it comes to offering crypto payment solutions with robust security. “MiCA is coming next year and crypto regulations are here to stay. We believe that those who adapt quickly to these regulations will lead the markets. We also strongly believe that such payment solutions should not be less affordable. That’s why we focus on making our payment products strongly compliant, yet accessible for the majority.” The discussion also covered the new trends in the payments sector, particularly the adoption of AI for fraud detection and prevention, and the integration of crypto wallets with credit cards. “It feels just like magic when you pay, like with a regular card, but it is actually connected to crypto wallets.” The growing issue of security breaches within the crypto wallet segment is not a particular concern for Payperless, which boasts a non-custodial wallet. Self-custodial wallets are as safe as any other service, as long as users don’t share their OTPs Security has always been a concern due to the irreversible nature of blockchain transactions. The growing issue of security breaches doesn’t affect Payperless on a technological aspect because of its non-custodial nature. There is, however, the issue of social engineering which the company cannot control. Still, the firm has done its best to ensure users know what they should and should not do to prevent their wallets from being hacked. “Actually, it’s simple. Don’t ever, ever share your OTP or passcode with anyone under any circumstances, and you’ll be good. And of course, we enforce 2FA everywhere. But, you know, although the funds are protected, we see a growing number of attempts to access user personal data.” Mr. Zyryanov and Mr. Plotnikov also addressed the challenges of balancing innovation with compliance and maintaining customer trust. Mr. Zyryanov commented, “Balancing innovation with compliance and ensuring customer trust is our paramount concern.” Mr. Plotnikov reiterated the importance of regulatory adherence: “We prioritize user privacy and compliance, ensuring that our innovative solutions are secure and trustworthy.” These insights from Payperless executives provide a comprehensive view of the current landscape and future direction of crypto payment processing.

GRVT, the hybrid cryptocurrency exchange on ZKsync’s first Validium ZK Chain, secures partnerships with 16 top market makers and achieves $3.3 billion in monthly trading volume. Learn how GRVT is shaping the future of crypto trading ahead of its Q4 Mainnet launch. GRVT, a hybrid cryptocurrency exchange powered by ZKsync’s first official Validium ZK Chain, has announced a strategic partnership with 16 prominent market makers, including Galaxy Trading Asia Limited, Ampersan, Amber Group, IMC, Flow Traders, Pulsar, QCP, Selini, and others. This collaboration brings a commitment of $3.3 billion in monthly trading volume from industry leaders like Galaxy Trading Asia Limited, DV Chain, and CMS. The partnerships highlight GRVT’s role as a reliable source of liquidity and market stability, especially in times of market volatility. This milestone comes ahead of GRVT’s Mainnet launch, scheduled for Q4 this year, demonstrating the market’s strong interest and confidence in GRVT’s innovative approach that merges traditional finance (TradFi) efficiency with blockchain’s secure settlement technology. GRVT’s Open Beta Testnet is currently live, with over 2.5 million users on the waitlist. Commitment to Liquidity, Stability, and Trader Confidence In a market characterized by volatility, the demand for deep liquidity and stable trading environments is increasingly critical. GRVT’s partnerships with industry leaders enable the platform to execute large orders with minimal slippage, offering tighter bid-ask spreads and reduced trading costs for both retail and institutional traders. These efforts are crucial in maintaining a stable trading environment, enhancing trader confidence, and ensuring consistent trading activity. “We are deeply grateful for the trust our partners have placed in us,” said Hong Yea, Co-Founder and CEO of GRVT. “Making money in financial markets is challenging. GRVT envisions a platform where anyone can trade anything in one place. These collaborations are one of the very first and critical steps towards our mission to offer a convenient and efficient platform for deploying investment strategies, trading, and generating self-custodial wealth in an open, trustless environment through exchange liquidity, smart contracts, and community distribution.” John Cahill, Chief Operating Officer at Galaxy Trading Asia Ltd., said, “Platforms like GRVT are pushing the boundaries with innovative hybrid models that blend the strengths of TradFi and DeFi to offer deep liquidity and crucial infrastructure needed for efficient, secure trading across digital asset options and other derivatives. The commitment from leading industry players and the substantial liquidity being channeled into this space underscore the vast opportunities ahead.” Darius Sit, Founder and CIO of QCP, said, “A pressing need has emerged for solutions that address critical issues in asset safety, data privacy and trading efficiency. GRVT’s approach offers a very promising path forward and we are thrilled to be part of the development of a more secure and efficient ecosystem.”  Christophe de la Celle, Chief Commercial Officer at Selini Capital, said, “With the DEX landscape rapidly evolving, the competition among some remarkable incumbents is intensifying. Among the 2024 cohort of new challengers, GRVT stands out as a leader. Their approach is both professional and well-structured, with a strong focus on catering to both professional and retail traders. We are excited to partner with GRVT and look forward to the significant impact they will have upon their launch.” Daniel Ku, CEO at Ampersan, said, “Decentralised trading platforms will continue to be an important part in the growth of the crypto trading industry. They can bring diversification of counterparty risks while still allowing price discovery across many assets and product types. GRVT is well-positioned to address these needs within a scalable, high-frequency infrastructure. As a key market maker, Ampersan is excited to collaborate with GRVT in bringing a liquid and performant platform to the market.” Martin Cheung, Head of Options Trading at Pulsar, said, “Partnering with GRVT is an important step for Pulsar as we enhance our trading capabilities. GRVT’s innovative infrastructure is a refreshing complement to our trading needs, offering the agility and security that are essential in the crypto markets. Onboarding with GRVT will undoubtedly strengthen our existing strategies, helping us maintain our strong track record. Together, we are poised to become a key force within the crypto ecosystem, driving market efficiency and growth.” Michael Lie, Global Head of Digital Assets at Flow Traders, commented, “This new partnership is another step forward in increasing our proximity to innovation occurring in the digital assets space. GRVT’s approach combines the benefits of centralized and decentralized finance. This is particularly relevant for market makers and liquidity providers like Flow Traders, because we’re at the intersection of TradFi and DeFi and therefore deeply aware of the trade-offs that users face today. GRVT’s unique approach is a significant step forward in improving usability and accessibility for a broad range of users.” “As we look ahead, we’re excited about GRVT’s roadmap and the innovative developments we have in store, which will further strengthen our platform and continue to build confidence among our users and partners alike.” added Yea. To learn more about GRVT and become a part of the community, visit grvt.io. About GRVT GRVT (pronounced “gravity”) is a hybrid derivatives exchange that combines off-chain order matching with on-chain settlements, achieving speeds of up to 600,000 transactions per second (TPS). Founded in 2022 and supported by Matter Labs, GRVT operates as ZKsync’s first official Validium ZK Chain. Our goal is to make financial markets accessible to all by offering secure, self-custodial solutions that create a safe, efficient, and user-friendly trading environment.

Acuity Trading has partnered with Techysquad to deliver a comprehensive toolset to empower brokers and traders with enhanced market insights and analysis. Acuity’s Research Terminal, a financial market analysis platform that leverages advanced data analytics and sentiment analysis to provide traders and investors with actionable insights, has been integrated with Techysquad’s Forex CRM system. Techysquad’s Forex CRM supports platforms like MT4, MT5, VertexFX, cTrader, TradeLocker, and MatchTrade. Built with the needs of forex brokers in mind, Techysquad offers innovative solutions such as quick setup, multi-level IB commission tools, unlimited user support, and customizable features for managing client interactions. Research Terminal features AnalysisIQ, calendars, and NewsIQ Research Terminal by Acuity Trading leverages artificial intelligence (AI) and machine learning (ML) technologies to process vast amounts of data, offering features such as: Sentiment Analysis: Acuity Trading analyzes the sentiment behind news articles and social media to gauge market trends and investor sentiment. Data Visualization: The platform presents data through charts, heat maps, and other visual tools to help users understand trends and market movements. Real-Time Alerts: It provides real-time alerts on breaking news and events that may impact the markets. Customization: Users can tailor the terminal to focus on specific assets, sectors, or regions based on their trading strategy. It is a valuable tool for both institutional and retail traders seeking to enhance their decision-making with data-driven insights. The integration of Acuity Trading’s Research Terminal will further elevate the platform, providing users with access to Acuity’s suite of research tools, including: AnalysisIQ: A tool that supports decision-making for traders by offering high-quality trade ideas from experienced analysts. AssetIQ: In-depth asset analysis offering unique market signals and insights into individual asset performance. Corporate Calendar: Reliable corporate actions data and financial news from Dow Jones, helping traders seize opportunities arising from corporate events. Economic Calendar: A comprehensive economic events calendar built on Dow Jones data, helping users navigate market volatility and manage risk. NewsIQ: Analysis of news affecting popular assets, highlighting data patterns and identifying actionable opportunities. “Brokers to leverage advanced market insights and analytics directly within our CRM” Andrew Lane, Chief Executive Officer of Acuity Trading, said: “We are excited to partner with Techysquad to integrate our Research Terminal into their Forex CRM system. By combining our cutting-edge research tools with Techysquad’s powerful CRM solution, we aim to provide brokers and traders with an unparalleled trading experience, offering them the insights they need to stay ahead in the fast-paced Forex market.” Faraz Munshi, Head of Business Development at Techysquad, said: “We’re thrilled to partner with Acuity Trading and bring their Research Terminal to our clients. This integration will allow brokers to leverage advanced market insights and analytics directly within our CRM, providing a seamless and more informed trading experience.” Established in 2023, Acuity Trading leads the fintech market with alpha generating alternative data and highly engaging trading tools using the latest in AI research and technology. Flexible delivery options include APIs, MT4/5, plug and play widgets, and third party automation services.

A New York judge has granted parts of Coinbase’s motion to compel the U.S. Securities and Exchange Commission (SEC) to provide documents related to its ongoing legal battle. However, the judge dismissed the exchange’s bid to subpoena SEC Chair Gary Gensler. In a decision filed on Thursday, U.S. District Judge Katherine Polk Failla approved and denied sections of Coinbase’s request, saying, “For the reasons stated on the record during the telephonic conference held on September 5, 2024, the Court GRANTS IN PART and DENIES IN PART Defendants’ motion to compel.” The legal dispute stems from an SEC lawsuit filed last year, accusing Coinbase of operating without proper registration. Coinbase sought various documents from the SEC, including those related to the tokens involved in the SEC’s complaint, the agency’s deliberations regarding Coinbase’s public listing in April 2021, and statements made by Gensler. The court’s ruling restricts some of these requests, limiting them to internal memos and documents reflecting the SEC’s application of the Howey Test—used to determine whether an asset qualifies as a security. Judge Failla also decided the SEC must search for more than the five SEC staff members it initially proposed, though not all Coinbase had requested. Current and former commissioners were excluded from this search list. Additionally, the SEC is not required to turn over internal documents unless they include external attachments. SEC Chair subpoena blocked Coinbase had previously served Gensler with a subpoena to produce documents, including his private emails. The court rejected this, accepting the SEC’s representation that Gensler had not used personal communication channels for SEC business, according to Coinbase Chief Legal Officer Paul Grewal. As a result, Coinbase withdrew its request for Gensler’s personal communications. Judge Failla’s ruling also grants the SEC’s motion to permanently seal some redacted documents. Despite some limits on their document requests, Coinbase sees the decision as a win. Grewal added that the judge’s ruling requires the SEC to produce important documents central to Coinbase’s defense, including internal memos on the Howey Test analysis. Grewal commented, “While it may be the case that we withdrew one particular request, and the judge recognized certain reasonable limits, this was an order granting the heart of the discovery that we have been seeking for months.” Coinbase and the SEC remain locked in a discovery phase as the lawsuit progresses.

U.S. prosecutors have reportedly connected Ryan Salame, the former co-CEO of FTX, to accounts under the names of Thai prostitutes in a bid to unfreeze funds tied to FTX and Alameda Research. In a filing with the U.S. District Court for the Southern District of New York, prosecutors opposed Salame’s motion to vacate his guilty plea in a case involving campaign finance violations. The motion accused Salame of using misleading and false assertions to evade his sentence for his involvement in a large-scale illegal campaign finance scheme and running an unlicensed money transmitting business. Salame had withdrawn his petition to vacate his plea on Aug. 29, but Judge Lewis Kaplan has scheduled a hearing on Sept. 12 to address the matter. Prosecutors described Salame’s attempt to challenge his plea as “shameless and self-serving,” arguing it lacked merit and came too late. Salame filed the petition after authorities indicated they might investigate his partner, Michelle Bond, who faces charges related to campaign finance violations. The filing also included details from an April 2023 video conference call suggesting Salame’s involvement in efforts to unfreeze Alameda Research funds on Chinese exchanges, allegedly using bribery. Notes from the call referenced former FTX CEO Sam Bankman-Fried’s alleged payment of $150 million to Chinese officials to release $1 billion in frozen assets. Salame was allegedly part of the scheme, using personal information from Thai prostitutes to open crypto accounts. Assistant U.S. Attorney Danielle Sassoon noted in the filing that there is evidence Salame was involved in unfreezing the accounts by setting up crypto trading accounts under these names. Salame, who pleaded guilty in September 2023 to conspiracy to operate an unlicensed money transmitting business and campaign finance fraud, was sentenced to 90 months in prison. He is scheduled to begin his sentence on Oct. 13. Meanwhile, Bankman-Fried was sentenced to 25 years in prison, with an appeal underway. Other former FTX executives, including Caroline Ellison, Nishad Singh, and Gary Wang, await sentencing following their guilty pleas.

Fiat on- and off-ramps allow users to purchase crypto with fiat money and convert digital coins to national currencies. What role does this crypto-fiat bridge play in today’s crypto market? Crypto used to be a self-contained industry, largely disconnected from the broader financial world back in the day. Fiat deposits were available only on the largest centralized exchanges and some wallets. Over the years, industry players realized that capital inflows from TradFi fuel the crypto economy — and conversely, the lack of crypto-fiat bridges slows down the digital asset market growth. Fiat on- and off-ramps give users additional flexibility in managing their funds. They create a new revenue stream for the business: users deposit more money, trading volume grows, and TVL increases. This becomes especially relevant as millions from the traditional economy embrace crypto. Offering on-ramp services is essential for any platform that wants to expand and get closer to many newcomers. How commonly are on-ramps used? Besides crypto exchanges and wallets, what types of services find them most essential? Fiat on-ramps are increasingly common across all crypto domains, including custodial and non-custodial platforms. Centralized exchanges pioneered the crypto-fiat bridge, and now it’s hard to imagine a CEX where you can’t buy crypto with a credit card. Over time, these solutions began to appear in wallets as well. Many decentralized wallets, traditionally catering to Web3 users, like MetaMask and Trust Wallet, have implemented fiat on-ramps. Hardware wallets are following suit — this year, Paybis helped the Trezor cold wallet deploy a crypto-fiat bridge. In recent months, many Web3-native projects that had never dealt with fiat have also integrated on-ramps — for example, Uniswap Wallet and the Shiba Inu memecoin. We see a growing interest in fiat bridges from DeFi platforms, dApps, Web3 gaming products, NFT marketplaces, and many other crypto projects. Also, many traditional institutions, like banks, fintech apps, and neobanks, are embracing crypto and building digital asset products. They, too, are taking advantage of the opportunity to easily deploy solutions that bridge fiat and cryptocurrencies. There are dozens of on-ramp solutions out there. What are the most frequent pain points people experience using them?  Building a decent on-ramp is a challenging task. Beyond the technical challenges, one must obtain licenses in as many jurisdictions as possible, making it difficult to build a quality bridge.  Some users face issues like high fees and long approval times. Particular on-ramps may not be available in some countries and offer limited payment options, negatively impacting conversion rates. Finally, users sometimes deal with complex onboarding and verification processes and have overall clunky user experiences. Those are some of the most frequent pain points — however, the on-ramp landscape is very diverse, and there are many quality solutions, too.  Some on-ramps offer a decent user experience but are challenging to integrate from a B2B perspective, which hinders their way to end users. How do you address these challenges at Paybis? What does a fiat on-ramp need to offer to stand out?  Simply eliminating (or at least minimizing) the drawbacks I just mentioned is already enough to offer a great fiat on-ramp. But here comes the tricky part — it’s not as easy as it sounds. To ensure a high success rate and reasonable rates, the platform must provide numerous localized payment options tailored to specific countries. First, this requires obtaining licenses in dozens of regions, which costs millions of dollars and can take years. Second, partnerships with many payment gateways are necessary to expand available options. At Paybis, we strive to work with as many payment solutions as possible to offer a fiat bridge that is viable worldwide. For example, users can buy crypto through Revolut, PayPal, or using the one-click Apple Pay solution. We’ve also enabled many more local options like AstroPay, M-Pesa, GrabPay, and PromptPay — over 40 in total. This allows us to maintain competitive rates in 190 countries, keep the industry’s lowest fees starting at 0.49%, and ensure an authorization rate of over 75% on credit card transactions, one of the highest success rates in the market. Finally, on-ramps should offer customers something beyond their expectations. A decent service is expected as a given, so it’s great when you can add a pleasant and unexpected bonus. For example, we provide the option for payments up to $1,000 with simplified KYC, which significantly lowers the entry barrier and boosts conversion rates into paying customers for businesses. The simplified KYC flow sounds quite exceptional in relation to fiat operations. How do you make it possible from a technical and regulatory standpoint?  Many countries’ regulations allow small transactions to go without a rigorous KYC check. This simplifies the usual flow, enabling users to buy crypto with a bank card as quickly as any other online purchase. From a B2B perspective, this offering elevates products to a new level, radically simplifying user onboarding. It’s especially well-suited for non-custodial protocols where people often make smaller purchases. KYC is necessary but often lengthy, which is one of its most frustrating aspects. At Paybis, we take our own approach to address this: we’ve implemented a framework that eliminates the need for KYC in 90% of first-time transactions. This allows users to purchase crypto in just 20 seconds, lowering the entry threshold and boosting conversion rates for businesses. Behind the scenes, Paybis performs a range of checks to ensure compliance with regulatory requirements. How long does it take to install a fiat on-ramp? Are there any tips to make this process faster and cheaper?  Total estimated time for a fiat on- and off-ramp integration is generally about two weeks. We recommend considering white-label solutions — ready-made software that is easy to integrate into any product under their brand. These solutions typically offer customization options, allowing businesses to adjust payment methods, regions, rates, etc. White-label providers have already done the development and licensing work, so they operate on a plug-and-play basis — businesses save time and money installing them. Broadly speaking, how can we make crypto more accessible to a broader range of people with little or no digital asset experience? By simplifying things. Traditional crypto infrastructure appears sophisticated to newcomers, so platforms that make it easier to navigate stand out from the competition. Account abstraction is a good example — users can play blockchain games and interact with dApps without even knowing about private key management and gas fees. The more such examples emerge throughout the crypto industry, the faster we can bridge the traditional and digital economies. About Innokenty Isers Innokenty Isers is Founder and CEO of Paybis.com. Lifetime entrepreneur. 20+ years of various online businesses experience. Started numerous successful online businesses in advertising, in-game trading, finance, crypto industries.

CME Group has plans to launch options on Bloomberg Commodity Index (BCOM) futures on September 23, the derivatives marketplace announced. Having extended its license with Bloomberg for commodity index products through 2027, CME Group seeks to provide market participants a new way to access broad market exposure with options on BCOM futures, which offer additional flexibility to express a range of views on commodity market movements. BCOM represents 22 commodities The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited. BCOM provides broad-based exposure to commodities, and no single commodity or commodity sector dominates the index. Rather than being driven by micro-economic events affecting one commodity market or sector, the diversified commodity exposure of BCOM potentially reduces volatility in comparison with non-diversified commodity investments. The index is made up of 24 exchange-traded futures on physical commodities, representing 22 commodities which are weighted to account for economic significance and market liquidity. Weighting restrictions on individual commodities and commodity groups promote diversification. BCOM futures’ open interest is up by 88% Paul Woolman, Global Head of Equity Index Products at CME Group, said: “We are pleased to announce the addition of options on BCOM futures to our suite of commodity index products, as well as the extension of our BCOM license renewal to continue to offer these important risk management tools. These new options contracts will build on the growing strength and liquidity of our existing BCOM futures contracts, which have seen a surge in volume and open interest in 2024 – up more than 12% and 88% year-over-year, respectively. The addition of options on BCOM futures will also offer greater potential capital and margin efficiency to commodity index trading strategies while providing similar exposure to OTC swaps.” Umesh Gajria, Global Head of Index Linked Products, Bloomberg Index Services Limited, commented: “Bloomberg is proud to see the continued growth and popularity of our flagship BCOM index which is backed by exceptional research and data. This is evidenced by CME Group’s launch of options on BCOM futures, extending their existing product suite offering investors additional opportunities to hedge and diversify their portfolios.”

FIA Tech has selected Broadridge’s COMS (Connectivity, Onboarding, and Monitoring Service) solution along with its NYFIX Order Routing Network to provide clients with interoperability across networks and promote standardization in the exchange-traded derivatives (ETD) space. In today’s financial landscape, where FIX connectivity has become commoditized, many firms are finding it advantageous to outsource this essential infrastructure. By doing so, companies can reduce operational costs, simplify management, and ensure faster, more reliable connections without the burden of maintaining in-house systems. This shift reflects a broader trend where financial firms are focusing on their core competencies by leveraging external solutions for connectivity. Partnering with specialized providers allows these firms to allocate more resources to innovation and client services, driving overall growth and competitiveness in the market. Streamlining the onboarding process for brokers and clients Broadridge and FIA are partnering to streamline the onboarding process for brokers and clients to the Trade Data Network (TDN), aiming to improve operational efficiency and transparency. This collaboration will simplify the onboarding of counterparties, allowing clients to integrate more quickly and efficiently into the TDN ecosystem. Clients joining the TDN will also benefit from Broadridge’s extensive broker counterparty network and the reliability of the NYFIX Order Routing Network. This combination promises faster processing and greater connectivity, helping clients accelerate their operations and enhance their trading activities. Michael Torretta, Head of Strategic Alliances at FIA Tech, said: “TDN is focused on improving the ETD market structure, simplifying post-trade and enhancing operational resiliency. Connecting TDN with Broadridge’s widely used network for ETD is an example of our strategy to create value for our partners, their clients and increase interoperability to our network.” George Rosenberger, General Manager for NYFIX at Broadridge Trading and Connectivity Solutions, commented: “We are thrilled to work with FIA Tech, a renowned name in the futures and options industry. Broadridge’s COMS and NYFIX offerings will move the industry forward.” FIA Tech, owned by a consortium of twelve leading clearing firms and the Futures Industry Association (FIA), aims to bring efficiency to the exchange-traded and cleared derivatives industry by partnering with exchanges, clearinghouses, clearing firms, and other intermediaries, as well as ISVs, buy-side firms, and end users. A recent independent software vendor (ISV) to join the FIA Tech Databank Network was Eventus, which also integrated FIA Tech’s cross-reference symbology and core contract specifications data into its client offering. The trade surveillance and market risk solution provider was the first to embed Databank into its service offering to clients. The network unifies reference data from over 80 exchanges and central counterparties (CCPs), leading index providers including FTSE, MSCI, S&P, STOXX, ISVs, and data vendors EDI and Factset. Nasdaq integrated Nasdaq Real-Time Clearing into FIA Tech’s Trade Data Network Nasdaq recently integrated its strategic clearing platform, Nasdaq Real-Time Clearing, into FIA Tech’s Trade Data Network. To reduce the complexity of post-trade data processing across the exchange-traded derivative market, Nasdaq and FIA Tech have teamed to provide market participants and post-trade service providers with the tools to improve middle and back-office processes including trade-date clearing, give-ups, fee, and commissions management, and help to eliminate duplicative reconciliations across these functions. Much of the global post-trade network is highly fragmented with a high degree of non-standardized data exchanged between market participants and infrastructure providers. This has led to a sector characterized by multiple points of reconciliation where trading data and cleared positions are verified across multiple systems, poor information flow between participants, and instances where data is effectively lost in the network. Collectively, it represents a substantial inefficiency and cost to the industry. It is a particular challenge for the data-heavy exchange-traded derivatives market during periods of high volumes and volatility, which has historically lacked a standardized approach to addressing reconciliation issues or provision of timely data to end clients. Inconsistent standards, a lack of common trade identifiers, and inadequate tools for collaborating and communicating across the industry prevent a coherent flow of data and timely resolution. The integration will reduce friction and significantly enhance the volume and quality of post-trade data available to FIA Tech’s 8,000+ members while empowering central counterparty clearinghouses (CCPs) using Nasdaq’s clearing platform and end-users with the ability to conduct more reliable risk analysis, operate with greater capital efficiency, and lower overall risk exposure. The functionality will help to substantially reduce systemic inefficiency across the global post-trade network.