ATFX, a globally recognized broker in online trading, has achieved significant growth in Q1 2025, as reported by the latest Finance Magnates Intelligence report. The company reached a remarkable total trading volume of USD 776.5 billion across its trading platforms, further cementing its position as a top player in the global financial services industry. Ranked 7th globally by trading volume on MT4/MT5, ATFX continues to reinforce its market presence through consistent platform performance and client engagement. This outstanding performance highlights ATFX’s commitment to providing innovative trading solutions while strengthening its client engagement. The company’s robust platform capabilities and diverse product offerings have contributed its growing success across various asset classes. Product Trends: Precious Metals: The precious metals category saw a 34.86% increase compared to Q1 2024 and a 25.98% rise compared to Q4 2024. This continued growth reflects increasing demand and volatility in gold and silver markets, driving more traders to invest in these assets. Currency Pairs: ATFX also saw a 20.43% increase in the currency pairs category compared to Q4 2024. This growth indicates strong market activity and continued interest in forex trading, especially as global currency dynamics evolve. Indices: The indices category surged by an impressive 106.43% compared to Q1 2024. This significant jump is a clear sign of traders capitalizing on the volatility and diverse market conditions in global stock indices. Stocks: Stocks experienced an extraordinary growth rate of 645.60% compared to Q1 2024, and a 97.59% increase compared to Q4 2024. The surge in stock trading volume demonstrates heightened investor interest and an expanding global market for equity trading. A Commitment to Growth and Innovation These numbers showcase ATFX’s consistent growth and the company’s dedication to delivering high-quality, innovative trading experiences. The increase in trading volumes across these categories signals a broader shift in investor sentiment and ATFX’s ability to meet the evolving needs of the global trading community. As ATFX continues to expand its global presence and enhance its product offerings, the company remains focused on providing cutting-edge tools, exceptional customer service, and a seamless trading experience for traders around the world. About ATFX ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK’s FCA, Australian ASIC, Cypriot CySEC, UAE’s SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide. For further information on ATFX, please visit ATFX website https://www.atfx.com.

US Dollar weakens due to trade uncertainty, Fed policy anticipation, geopolitical tensions, and lack of safe-haven demand despite risk-off mood. US Dollar Weakness Driven by Trade Concerns and Pre-Fed Positioning The US Dollar is currently experiencing broad weakness, which is providing a tailwind for the EUR/USD exchange rate. This softness in the Dollar is primarily attributed to two key factors. Firstly, concerns surrounding international trade have resurfaced following statements from US President Trump. He indicated a potential future reduction in tariffs on China, which might typically be seen as positive, but this was coupled with a threat to impose a substantial 100% tariff on movies produced outside the US. This whipsaw of potential policy shifts injects uncertainty into the market, typically leading to a less favorable view of the Dollar. Secondly, market participants are adjusting their positions in anticipation of the upcoming monetary policy announcement by the US Federal Reserve on Wednesday. The general expectation is that the Fed will maintain the current interest rate range of 4.25%-4.50%. This anticipation often leads investors to be cautious, refraining from making significant bets on the Dollar until the Fed’s stance becomes clearer. Supporting this narrative, the US Dollar Index (DXY), a measure of the Dollar’s strength against a basket of major currencies, has edged lower, trading marginally below the 100.00 level. Furthermore, the fact that US stock index futures are showing losses, typically indicating a risk-averse environment, yet the Dollar is not benefiting from traditional safe-haven flows, underscores the current lack of confidence in the currency. Adding to the trade uncertainty, President Trump mentioned the possibility of announcing trade deals with some nations this week, but simultaneously noted that no communication with China’s President Xi Jinping is scheduled. Focus on US Economic Data and the Federal Reserve’s Monetary Policy The near-term trajectory of the EUR/USD pair and the broader financial markets is significantly tied to upcoming releases of US economic data, with particular attention on the April ISM Services PMI, and the subsequent monetary policy decision from the Federal Reserve. The ISM Services PMI, a key indicator of the health of the US services sector, is expected to show a slight moderation in growth. Should the actual reading fall below the critical 50 level, indicating a contraction in service sector activity, it could exert further downward pressure on the US Dollar. However, the main event of the week is the Federal Reserve’s policy announcement on Wednesday. Investors will be scrutinizing the Fed’s statement and the subsequent press conference by Chairman Jerome Powell for any signals regarding the future path of interest rates. While the recent Nonfarm Payrolls report for April showed a stronger-than-anticipated job creation of 177,000, exceeding the expected 130,000, this positive news was somewhat tempered by downward revisions to the job growth figures for February and March, totaling 58,000. This mixed employment picture, coupled with ongoing uncertainties surrounding trade policies, adds complexity to the Fed’s deliberations and the market’s interpretation of their likely actions. The market consensus currently anticipates the April ISM Services PMI to come in at 50.6, a slight decrease from the March reading of 50.8. Geopolitical Tensions and Safe-Haven Flows Elevated geopolitical tensions are playing a notable role in shaping market sentiment and influencing the movement of currencies and commodities. The recent missile strike near Israel’s Ben Gurion Airport, for which Yemen’s Iran-aligned Houthi rebels have claimed responsibility, and Israel’s subsequent pledge to retaliate, are escalating regional instability. This heightened geopolitical risk is contributing to a more risk-averse atmosphere among investors. Furthermore, US President Trump’s unpredictable pronouncements on foreign policy, including the suggestion of potential military action to acquire Greenland and the announcement of a possible 100% tariff on foreign-produced movies, are adding to investor unease. In this environment of heightened uncertainty, traditional safe-haven assets like gold are experiencing increased demand, with the price of gold (XAU/USD) rallying by more than 1%. Interestingly, despite the risk-off sentiment, the US Dollar is not necessarily benefiting from typical safe-haven flows, likely due to the uncertainties surrounding the US trade policy. The confluence of geopolitical risks and trade policy concerns is thus creating a complex backdrop for currency movements and investor behavior. Top upcoming economic events: 05/05/2025 14:00:00 – ISM Services PMI (USD): High-impact release measuring the activity level in the U.S. services sector. A reading above 50 indicates expansion, below 50 suggests contraction, significantly influencing market sentiment and the U.S. Dollar’s value. 05/05/2025 18:00:00 – Loan Officer Survey (USD): Medium-impact survey providing insights into bank lending practices and loan demand, which can be leading indicators of economic activity. 05/06/2025 01:45:00 – Caixin Services PMI (CNY): High-impact index focusing on the services sector in China, surveying purchasing managers in small and medium-sized enterprises, offering insights into the Chinese economy. 05/06/2025 07:35:00 – SNB Chairman Schlegel speech (CHF): High-impact event where the head of the Swiss National Bank may provide clues about future monetary policy, affecting the Swiss Franc. 05/06/2025 22:45:00 – Unemployment Rate (NZD): High-impact quarterly release indicating the percentage of the labor force that is unemployed in New Zealand, influencing the Reserve Bank of New Zealand’s policy and the NZD. 05/07/2025 18:00:00 – Fed Interest Rate Decision (USD): Major high-impact event where the U.S. Federal Reserve announces its benchmark interest rate, significantly impacting the U.S. Dollar and global markets. 05/07/2025 18:30:00 – FOMC Press Conference (USD): High-impact event following the rate decision, offering further insights from Fed officials on their decision and economic outlook, often causing market volatility. 05/08/2025 11:00:00 – BoE Interest Rate Decision (GBP): High-impact event where the Bank of England announces its official interest rate, a crucial factor for the UK economy and the British Pound. 05/08/2025 12:30:00 – Initial Jobless Claims (USD): Medium-impact weekly release reporting the number of individuals who filed for unemployment insurance for the first time, a timely indicator of the U.S. labor market. 05/09/2025 12:30:00 – Net Change in Employment (CAD): High-impact Canadian release indicating the change in the number of employed individuals, a key economic indicator that can significantly affect the Canadian Dollar.   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 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 in this article.

Given the strength of the support level 55.20, WTI crude oil can be expected to rise in the active c-wave toward the next round resistance level 60.00.   WTI crude oil reversed from support area Likely to rise to resistance level 60.00 WTI crude oil recently reversed up from the support area between the key support level 55.20 (previous monthly low from April, which stopped the previous impulse wave 3, as can be seen from the daily WTI crude oil chart below) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous impulse wave b – which belongs to the short-term ABC correction 4 from the start of April. This ABC correction is itself a part of the extended downward impulse sequence (C) from the start of this year. Given the strength of the support level 55.20 an the clear bullish divergence on the daily Stochastic indicator, and the the bullish sentiment seen across the commodities markets today, WTI crude oil can be expected to rise in the active c-wave toward the next round resistance level 60.00. WTI Technical Analysis 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 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 in this article.

Bitcoin (BTC) is trading around $94,600 on Monday, reflecting a modest 0.98% decline over the past 24 hours. The move comes after BTC briefly touched $97,000 last week, only to face resistance that pushed prices into a short-term consolidation phase. Technically, BTC is holding within a tight range between $92,000 and $97,000, with the Relative Strength Index (RSI) cooling to 42 — indicating neutral momentum. The MACD histogram also suggests weakening bullish sentiment, with a potential for a short-term pullback toward the lower end of the range. Still, the consolidation appears constructive in the broader context, as BTC remains above key exponential moving averages on both daily and 4-hour charts, signaling an underlying bullish structure. Despite the near-term price dip, institutional interest in Bitcoin remains strong. Spot Bitcoin ETFs recorded $674.9 million in inflows last week, highlighting sustained demand from long-term investors and asset managers. Meanwhile, the annualized basis rate for BTC futures stands at 7.42%, indicating continued appetite for leveraged long positions — a historically bullish sign when sustained over multiple sessions. This combination of ETF inflows and healthy futures demand suggests that the recent pullback may be less about weakening fundamentals and more about technical digestion following BTC’s aggressive rally from March lows. Analysts anticipate a potential retest of the $92,000–$93,500 support zone in the coming days, which could act as a springboard for another leg up. A decisive break above the $97,000 resistance level could open the door for a push toward the psychologically significant $100,000 mark. However, any move lower that breaches the $91,000 zone could invite further selling pressure, with $88,500 as the next downside level to watch. Ethereum (ETH) is trading at approximately $1,828 on Monday, marking a modest 0.66% gain over the past 24 hours. The asset has spent the past week fluctuating between $1,800 and $1,850, reflecting a period of consolidation as traders assess macroeconomic signals and market catalysts. Technically, Ethereum shows neutral momentum, with the Relative Strength Index (RSI) hovering at 45 and the MACD just beginning to show a mild bullish crossover. While this hints at potential upside, the lack of significant volume suggests a cautious market still waiting for a decisive move. Support remains firm around the $1,800 and $1,750 levels, while $1,850 and $1,900 present resistance zones to watch. A break above $1,850 could open up a move toward $1,900 and potentially higher if macro conditions improve. Institutional sentiment toward Ethereum remains constructive. Ethereum-based ETFs have continued to see steady inflows, albeit at a slower pace compared to their Bitcoin counterparts. Additionally, on-chain data indicates that wallets holding large ETH balances have increased slightly over the past two weeks, a signal of potential accumulation by longer-term holders. Still, retail participation appears muted, with transaction volume on L2 networks and DeFi protocols relatively flat. This indicates that broader conviction has yet to return in force, leaving short-term price action largely technical and sentiment-driven. Analysts expect ETH to continue trading within its current range until a clear breakout or macro trigger emerges. A close above $1,850 with accompanying volume would be the first technical sign of strength, potentially leading to a push toward $1,900 and beyond. Conversely, failure to hold $1,800 could prompt a deeper retracement to $1,750 — a key support level that has held since mid-April.

Berlin-based FinTech lemon.markets has announced a strategic partnership with Optio Incentives, a Norway-based platform for employee equity compensation management. The collaboration integrates lemon.markets’ brokerage and custody infrastructure into Optio’s solution, enabling a fully digital experience for employee share programs in Germany, including one adopted by a DAX-listed company. Through the partnership, Optio Incentives now offers a locally optimized equity compensation platform supported by lemon.markets’ BaFin-licensed brokerage infrastructure. The joint offering allows employees in Germany to manage shares received as part of their salary packages with full regulatory compliance and minimal friction. Equity Compensation Meets Modern Brokerage and Custody Infrastructure Max Linden, Founder and CEO of lemon.markets, said, “We’re excited to partner with Optio Incentives, a European leader in employee compensation solutions. This partnership highlights how lemon.markets can enable a wide range of software-driven investment use cases. Supporting a German DAX-listed company underlines the operational, technical, and regulatory strength of our platform.” Optio Incentives works with companies preparing for public listing as well as those already listed, providing tools for managing global share plans. The company operates across 15 stock exchanges and serves more than 500 clients. The integration with lemon.markets streamlines the handling of employee shares via a single API, automating execution, custody, and tax handling for HR and finance teams. Christoffer Herheim, CEO at Optio Incentives, commented, “By combining Optio Incentives’ expertise in equity compensation with lemon.markets’ modern brokerage and custody infrastructure, we are providing an improved experience for our German customers. Germany is a key market for us, and this collaboration allows us to further our mission of making equity-based compensation more accessible – by building a solution that is not only efficient, but also adapted to local requirements and realities.” Germany continues to lag behind other European markets in employee share plan adoption due to regulatory complexity and technical fragmentation. The partnership addresses these structural hurdles by offering a fully integrated digital solution designed specifically for the German market. lemon.markets’ infrastructure is already used by institutions such as BNP Paribas and Deutsche Bank, and supports custody and trade execution for stock-based investment products. The partnership also signals an expansion in lemon.markets’ brokerage-as-a-service offering, as it moves beyond traditional retail use cases to support enterprise-grade infrastructure for corporate equity plans. The company aims to power 100 million brokerage accounts over the next decade and has raised more than €28 million from investors including Creandum, Lakestar, Lightspeed, CommerzVentures, and System.one. The new integrated solution is already in use by clients in Germany and is expected to scale with listed firms across Europe.

On February 21, Bybit suffered a massive security breach, losing $1.5 billion in ETH. The incident tested the team’s resilience and leadership quality and raised the bar for crisis response in the crypto space. By February 24, the cryptocurrency exchange had replenished its reserves via 447,000 ETH in emergency funding from companies such as FalconX, Galaxy Digital, and Wintermute, a market maker that itself suffered a significant hack in 2022. Wintermute lost $160 million in this hack and admirably recovered from it. Crisis management and damage control are not synonymous, and Bybit’s decision to immediately address the matter rather than stay silent sets an example for the industry. Making sound decisions under pressure is among the many aspects of a calibrated response. Market makers should uphold the same standards  The inception of the crypto market was the launch of Bitcoin in 2009. In contrast, the Amsterdam Stock Exchange (1602) is considered the first stock market in history. Just like the crypto market is much younger than the traditional financial market, so are its market makers. The market for digital assets remains highly volatile with comparatively low liquidity, and market makers must be more meticulous when it comes to risk management. Crypto market makers are also known as the house. The relationship between them, exchanges, and third parties is very complicated because of how challenging regulating trading processes is. Market makers remain unobligated to comply with a strict code of conduct.  Kairon Labs was established in 2019 in recognition of the lack of professional market makers in the crypto industry. It provides institutional-grade liquidity solutions, bringing sustainable liquidity, transparency, and efficiency to crypto markets. Kairon Labs has become a trusted partner for investors, exchanges, and crypto projects over the years, optimizing liquidity strategies and maintaining sustainable and fair market conditions through proprietary trading software and other advanced tools. As a provider of ethical market-making services, Kairon Labs understands that trust and liquidity are among the cornerstones of a healthy market. Like Bybit, the market maker is rooted in transparency and commends the exchange’s leadership for upholding an elevated crisis response standard. How market makers can help after a hack The Bybit hack was attributed to Lazarus Group from North Korea, a pervasive and well-organized cybercrime group, and occurred despite the exchange’s strict security protocols. Indeed, some attacks are inevitable, and the response of the parties on the receiving end is paramount. Market makers can help stabilize token prices after a hack, provide liquidity for recovery efforts, and maintain listings and market access. If a hack causes panic selling and subsequent price crashes, a market maker might step in to stabilize the market, either voluntarily or under agreement with the platform. This helps preserve investor confidence and prevents total liquidity wipeout. Sometimes, platforms negotiate with market makers to assist with recovery efforts, like issuing new tokens or holding community compensation rounds. Market makers help keep tokens liquid on exchanges if a project is hacked but continues operating. Large, well-regulated crypto exchanges will likely require an issuer to transfer significant amounts of a token to market makers to serve as insurance against rug pulls and ensure liquidity in the market. This will prevent the price from skyrocketing due to poor liquidity, among other risks. If a leading exchange like Coinbase or Binance were to list a coin, its price would surge, and without liquidity from market makers, the spreads would be excessive. Market makers help stabilize the price until holders and farmers can move the assets to the exchange and circulate them. Prerequisites for reliable crypto market-making services Conscientious market makers keep the crypto market functioning properly so that exchanges, project owners, and investors can operate as intended. Unfortunately, not all crypto market makers are ethical, and their behavior has consequences. Binance recently took punitive measures against a platform involved in one-sided market making, which is against the exchange’s rules. The market maker had made a profit of $38 million from Movement’s MOVE coin, and Binance froze all proceeds to compensate users. Market makers need an in-depth understanding of market rules, trading strategies, liquidity, and traders’ behavioral patterns before launching. They must be able to capture the tendencies and opportunities in the market to gain an edge. This process starts with researching historical and current trading data to understand the market and its inherent volatility. They can obtain market data through trading software or data providers, by communicating with other traders at trading conferences or webinars, etc. Market makers must also keep abreast of events and news that could impact the market, such as company reports, macroeconomic data, political events, etc. They need a stable, efficient technological platform to support real-time data and trading analysis. It must have algorithms for secure trade settlement, instant trade execution, and high-speed data transfer and processing. Market makers require substantial capital to support trading activities and must identify its source and amount before they enter the market. Most risks market makers face are blockchain-related. If the smart contracts are hacked, the platform could lose its assets. Market makers may need to participate in dApps or on-chain protocols to provide liquidity, where on-chain risks like low transaction speed, a fork in an L1 blockchain where the protocol sits, etc., are transferred to each party involved. Market makers must enforce strict rules to mitigate risks, but they are not responsible for hacks suffered by other parties, like exchanges. They will not recover stolen funds, patch vulnerabilities, stop ongoing attacks, or reimburse users. Unless contractually agreed, they have no obligation to intervene.

Vantage Markets has launched its Copy Trading feature on the Vantage Client Portal website, offering browser-based access to a tool that was previously only available via the Vantage App. The company stated that the expansion broadens availability across jurisdictions where it operates and gives new and existing users the option to copy strategies from top-performing traders directly through its web platform. The launch includes a deposit bonus promotion, where eligible users may receive up to 50 percent in credit bonus when opening a Copy Trading account through the Client Portal. The feature is designed to allow users to follow and automatically copy trades of more experienced signal providers in real-time, without requiring advanced trading knowledge. “Greater flexibility and convenience for our users” Marc Despallieres, CEO of Vantage Markets, commented, “At Vantage, we are continuously working to democratize access to financial markets. By bringing Copy Trading to our Client Portal, we’re providing greater flexibility and convenience for our users. This expansion reflects our commitment to innovation and helping traders – both new and experienced – make more informed trading decisions, with the tools and support they need.” Vantage’s web-based Copy Trading mirrors the functionality of the mobile version and includes features such as fast account setup, charting powered by TradingView, and access to daily product analyses. The platform allows traders to operate without commission on US stock CFDs, although other fees may still apply. The company has positioned Copy Trading as an accessible option for users who want to diversify their investment approach or gain exposure to market movements through the strategies of experienced traders. The integration into the Client Portal is intended to simplify onboarding and increase visibility of the feature across Vantage’s ecosystem. Users who activate Copy Trading accounts through the portal can also access technical indicators, real-time decision tracking, and Vantage’s curated research. The broker said these tools are aimed at helping users build confidence in financial markets while observing trading behavior in a live environment. Vantage Markets offers trading in a wide range of CFD instruments including Forex, commodities, indices, ETFs, shares, and bonds. The broker operates a multi-asset platform that caters to retail clients with both app-based and browser-based access. It currently provides over 220 product analyses daily and has maintained a focus on user education and simplified trading experiences.

StoneX Group Inc. has announced the official launch of FOREX.com in Singapore, extending its retail and self-directed trading platform to one of Asia’s leading financial hubs. Operated locally through StoneX Financial Pte. Ltd., which is regulated by the Monetary Authority of Singapore, FOREX.com brings access to global CFD markets, including FX, indices, shares, gold, silver, and commodities. The move introduces Singapore-based traders to FOREX.com’s suite of proprietary tools and services, developed over two decades since its original launch in the United States in 2001. The platform grew from a resource for retail FX traders into a provider of multi-asset CFD trading services across Europe, the Middle East, and Asia Pacific. StoneX acquired FOREX.com’s holding company, Gain Capital Inc., in 2020. 1000s of top FX pairs, indices, shares, gold, silver and commodities Andy Hudson, Head of Retail – Singapore, commented, “This launch marks a strategic milestone in empowering Singapore’s retail traders to access thousands of global CFD markets across top FX pairs, indices, shares, gold, silver and commodities.” He added, “FOREX.com supports its users from education through to execution, and empowers retail customers to trade with confidence. That confidence is supported by a full suite of user-first platforms, fast execution, tight spreads and transparent pricing.” The platform’s local offering includes real-time support during market hours, educational content tailored for Singapore-based traders, and risk management tools designed to serve both new and experienced clients. Greg Kallinikos, CEO, APAC, said, “Since 2006, StoneX has supported its customers across APAC from our Singapore headquarters. We are proud to expand this servicing further by having FOREX.com launch in Singapore and help us connect even more clients to markets. FOREX.com customers in Singapore stand to benefit from dedicated support operating 24 hours a day, five days a week in facilitating their trading needs.” FOREX.com in Singapore will offer access to thousands of CFDs through proprietary and third-party platforms, with tools optimized for mobile, desktop, and web. As part of StoneX, it also leverages the company’s global infrastructure, regulatory oversight, and operational presence across more than 80 offices on six continents. StoneX’s acquisition of Gain Capital allowed it to scale its retail operations significantly, integrating FOREX.com with its broader suite of institutional and commercial services. The group serves over 400,000 retail accounts and more than 54,000 commercial, institutional, and payments clients. StoneX stated that FOREX.com in Singapore will maintain the group’s focus on transparent pricing, tight spreads, and compliance with regulatory frameworks. Its trading tools, customer support and educational material will reflect that operational model. The Singapore launch continues FOREX.com’s expansion across Asia, where demand for self-directed trading platforms and mobile-first brokerage solutions has grown. The company said the Singapore office would play a central role in localizing services and responding to market preferences. StoneX Group Inc. is a Nasdaq-listed Fortune 100 company headquartered in New York. It offers a full range of financial services, including institutional trading platforms, post-trade solutions, market intelligence, and regulated retail offerings. The company employs more than 4,600 people and reports operations across six continents.

The Maldives has announced an ambitious $9 billion plan to transform its capital, Malé, into a blockchain and digital assets hub, marking a significant pivot in its national economic strategy. The initiative, a joint venture with Dubai-based MBS Global Investments, is aimed at reducing the country’s heavy dependence on tourism and fisheries while addressing its growing debt burden. The proposed Maldives International Financial Centre (MIFC) will span over 830,000 square meters and house up to 6,500 residents. The development is expected to create around 16,000 jobs, becoming a central pillar in the government’s efforts to attract international capital and build a diversified, future-ready economy. MBS Global, a $14 billion family office led by Sheikh Nayef bin Eid Al Thani of Qatar, will spearhead funding and development. According to official projections, the MIFC is anticipated to triple the country’s GDP within four years and generate over $1 billion in annual revenue by its fifth year of operation. With tourism revenues disrupted by global volatility and climate risks, the Maldivian government sees this as a pathway to long-term stability. Tax-Free Incentives and Global Aspirations To attract financial institutions, blockchain startups, and fintech innovators, the MIFC will offer a highly competitive regulatory and economic framework. Incentives include zero corporate tax, no income tax, and no residency requirements for firms operating within the hub. These measures align closely with successful strategies employed by financial hubs like Dubai and Singapore. MBS Global has indicated that funding for the project will be raised through a combination of equity and debt instruments, with current investment commitments already exceeding $4 billion to $5 billion. The development is designed to accommodate a range of financial services firms, from hedge funds and crypto exchanges to blockchain development companies and digital payment providers. The Maldivian government envisions the MIFC as a transformative project that will not only bolster domestic economic resilience but also place the island nation on the map as a serious contender in the global fintech and digital assets arena. By leveraging its strategic location in the Indian Ocean and its growing international profile, Maldives aims to become a destination not just for leisure, but for capital and innovation. While the project has generated excitement among investors and policymakers, it also comes with challenges. Ensuring regulatory robustness, environmental sustainability, and broad-based economic benefits will be key to the MIFC’s long-term success. As construction plans move forward, the Maldives is poised to become one of the smallest yet most ambitious countries to stake its future on the blockchain economy.

OKX has resumed operations of its Web3 DEX aggregator, which had been temporarily suspended in March 2025 after being misused by the notorious North Korean-affiliated Lazarus Group. The relaunch of the aggregator is accompanied by significant security upgrades aimed at curbing illicit activity and restoring user trust. This move is seen as a key development in the growing intersection between decentralized finance (DeFi) and global regulatory scrutiny. The initial suspension followed revelations that Lazarus laundered over $100 million worth of stolen Ethereum through OKX’s aggregator. The stolen funds were part of a much larger $1.4 billion hack that targeted the Bybit exchange. The scale of the laundering operation triggered a regulatory response across several jurisdictions, leading OKX to halt the platform’s operations and engage compliance experts to redesign its infrastructure. OKX worked closely with regulators and third-party compliance firms during the downtime to ensure that the updated platform met emerging legal and security expectations. The result is a more robust aggregator that reflects the heightened standards now expected in the DeFi space. Security and compliance upgrades aim to set industry benchmark The revamped OKX Web3 aggregator introduces several new security measures, including real-time abuse detection that monitors on-chain behavior to identify suspicious activity across multiple supported blockchains. This system enables the platform to proactively respond to potential threats as they occur. One of the flagship features is a dynamic blacklist that constantly updates to include new suspect wallet addresses. This allows OKX to automatically block interactions with wallets tied to known or emerging threats. In addition, the platform has introduced proactive user alerts that warn traders of potentially risky transactions before they are executed. To strengthen its compliance framework, OKX has also integrated with AML software tools in jurisdictions outside of Japan, further enhancing its ability to detect and report money laundering attempts. These upgrades not only serve to deter bad actors but also position the platform as a leader in DeFi transparency and accountability. CEO Star Xu described the new aggregator as “the Chrome and search engine of the blockchain,” emphasizing its role as both a secure gateway to the decentralized web and a source of real-time, trustworthy information for users. As decentralized exchanges face increased pressure to balance openness with compliance, OKX’s revamped DEX aggregator may set a precedent for the next wave of institutional-grade DeFi platforms.

Solana developers have discreetly patched a critical zero-day vulnerability that could have allowed attackers to mint unlimited tokens and siphon funds from user accounts. The flaw, discovered on April 16, 2025, affected core cryptographic components of the Token-2022 and ZK ElGamal Proof programs, both central to Solana’s confidential token architecture. According to security researchers, the vulnerability stemmed from missing algebraic components in the Fiat-Shamir Transformation’s transcript generation—a mathematical process used to convert interactive cryptographic proofs into non-interactive ones. This omission enabled the possibility of crafting forged proofs that could bypass verification, effectively opening the door to false token creation and potential unauthorized fund withdrawals. The implications were severe. A successful exploit would have undermined user trust and caused widespread disruption to decentralized applications utilizing confidential tokens. The rapid discovery and coordinated patching effort helped avert what could have been a major incident. Coordinated Response from Core Teams and Security Firms To address the vulnerability, Solana’s core development teams—Anza, Firedancer, and Jito—collaborated closely with prominent blockchain security auditors, including OtterSec, Asymmetric Research, and Neodyme. These groups acted quickly to investigate the flaw and develop a secure fix. The patch was disseminated privately to a select group of validators beginning April 17. Within 24 hours, over 70% of the network’s stake had adopted the fix, surpassing the supermajority threshold required for network-wide safety. The public disclosure of the vulnerability came only after a secure majority had implemented the update, minimizing the risk of opportunistic exploitation. While no exploitation of the vulnerability has been detected, the strategy of privately distributing the patch before public disclosure has drawn mixed reactions. Proponents argue that this approach was vital to securing the network and protecting users from potential harm. Critics, however, see the move as a deviation from decentralized ideals, pointing out the limited transparency and potential concentration of power among a few core teams and validators. Balancing Security and Decentralization The incident highlights a key challenge facing modern blockchain ecosystems: balancing rapid security response with transparent, decentralized governance. In highly performant and complex chains like Solana, time-sensitive vulnerabilities can demand swift, centralized coordination—sometimes at the expense of open community involvement. As Solana continues to mature, how it navigates similar crises will likely shape broader industry perceptions of its trust model, validator structure, and governance philosophy. For now, the swift resolution appears to have prevented catastrophe, but questions about the long-term implications of such interventions remain.

Global cryptocurrency exchange Binance has entered a landmark partnership with the Kyrgyz Republic aimed at accelerating the country’s transition toward a digitally empowered economy. The collaboration was formalized on May 4, 2025, during the inaugural meeting of the Council for the Development of Digital Assets in Bishkek, which was attended by President Sadyr Japarov. A Memorandum of Understanding (MoU) was signed between Binance and the National Agency for Investments of Kyrgyzstan. Central to this strategic alliance is the rollout of Binance Pay, a contactless cryptocurrency payment solution that will now be available across Kyrgyzstan. The system is designed to facilitate secure, efficient, and borderless digital transactions for both residents and visitors. It is expected to enhance financial inclusion while also strengthening the region’s integration into broader crypto-enabled economic networks, particularly within the Eurasian Economic Union (EAEU). Blockchain Education and Infrastructure Support Another key component of the partnership is the implementation of national blockchain education programs. Binance Academy will collaborate with Kyrgyz governmental agencies, universities, and financial institutions to introduce tailored curricula and workshops that aim to improve digital and financial literacy. These programs will target a wide range of audiences, from civil servants and banking professionals to entrepreneurs and students. By investing in human capital, the initiative hopes to cultivate a local ecosystem capable of driving innovation in decentralized finance (DeFi), smart contracts, and blockchain governance. The programs are part of a larger national push to ensure that Kyrgyzstan’s workforce is prepared for the technological demands of a digital-first economy. In addition to education, Binance will assist Kyrgyzstan in developing a comprehensive digital asset infrastructure. This includes the exploration of blockchain use cases in public sector operations, the establishment of a national Bitcoin reserve strategy, and support for the pilot and potential nationwide deployment of the digital som—Kyrgyzstan’s central bank digital currency (CBDC). Strengthening Kyrgyzstan’s Digital Sovereignty This partnership aligns with Kyrgyzstan’s broader policy objectives of enhancing digital sovereignty and financial resilience. In April 2025, President Japarov signed a constitutional law granting legal tender status to the digital som, making Kyrgyzstan one of the few countries to institutionalize a CBDC through constitutional reform. Moreover, Binance founder and former CEO Changpeng Zhao has reportedly agreed to serve as an advisor to Kyrgyz officials on matters of blockchain strategy and crypto regulation. His involvement is expected to lend additional technical expertise and global credibility to the country’s digital transformation efforts. As the global crypto landscape continues to evolve, Kyrgyzstan’s forward-leaning stance and partnership with Binance may serve as a regional blueprint for how emerging economies can responsibly integrate digital assets into national development strategies.

This week in global finance and fintech: new leadership at INFINOX, expanded crypto access from Morgan Stanley to Bunq, record-breaking results from brokers like Robinhood and XTB, and fresh regulatory crackdowns from the SEC. Here’s your roundup of the biggest moves and headlines INFINOX Capital Appoints Lee Holmes as CEO INFINOX Capital Ltd, regulated by the UK’s Financial Conduct Authority, has announced the appointment of Lee Holmes as Chief Executive Officer. His appointment marks a new leadership phase supported by the outgoing management team. Read More Bunq Launches In-App Crypto Trading Powered by Kraken Dutch digital bank Bunq has introduced a crypto trading feature for users in six countries, allowing direct access to digital assets through its mobile app. Read More PrimeXBT Launches Stock Trading Through MetaTrader 5 PrimeXBT has announced the launch of stock Contracts for Difference (CFDs) on its MetaTrader 5 platform, expanding its range of trading products beyond crypto, forex, commodities, and indices. Read More Robinhood Profit More Than Doubles on Crypto and Options Frenzy Robinhood reported solid first-quarter earnings on Wednesday, as volatile markets fueled a surge in trading activity across crypto, equities, and options. Read More Morgan Stanley to Add Crypto Trading to E*Trade by 2026 Morgan Stanley is reportedly preparing to offer cryptocurrency trading through its E*Trade platform by 2026. Read More SEC Charges Three Texans with Defrauding Investors In $91 Million Ponzi Scheme The U.S. Securities and Exchange Commission (SEC) has announced charges against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all residents of the Dallas-Fort Worth area, for operating a Ponzi scheme that defrauded more than 200 investors out of at least $91 million. Read More IM Academy Faces Charges Over $1.2 Billion Training Scam The entity, collectively referred to as “IML,” operated as IYOVIA, IM Mastery Academy, iMarketsLive, and IM Academy. It promoted training in cryptocurrencies, binary options, forex, and stock trading. Read More Interactive Brokers Reports Volumes Up by 63% YoY Interactive Brokers Group has released its brokerage metrics and financial data for April 2025, reporting increases in client trading activity, equity levels, and account growth, while also publishing detailed execution cost statistics for U.S. Reg.-NMS stock trades. Read More XTB Reports Record Revenue and Client Growth in Q1 2025 Despite Lower Profit XTB has published its preliminary financial and operational results for the first quarter of 2025, showing record operating income and customer growth, while net profit declined year-on-year due to rising costs tied to the company’s global expansion and intensified marketing efforts. Read More Crypto Digest Crypto made headlines this week with Tether’s U.S. expansion plans, Ripple’s rejected Circle bid, and the SEC clearing PayPal’s stablecoin. Add in big broker earnings, enforcement drama, and global growth moves, and it’s clear: the digital finance world isn’t slowing down. SEC Closes Inquiry Into PayPal’s Stablecoin Without Enforcement The U.S. Securities and Exchange Commission (SEC) has ended its investigation into PayPal’s dollar-backed stablecoin PYUSD without taking enforcement action. Read More MoonPay Establishes US HQ in New York City MoonPay, a global leader in crypto payments, has announced the opening of its new U.S. headquarters in New York City, further solidifying its commitment to expanding its operations within the country. Read More Circle Receives In-Principle Regulatory Approval from Abu Dhabi’s Regulator Circle Internet Group has received In-Principle Approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market to operate as a money services provider. Read More Ripple Reportedly Offered Up to $5 Billion to Acquire Circle Ripple made an acquisition offer valued between $4 billion and $5 billion to stablecoin issuer Circle, but the proposal was rejected as too low. Read More Tether to Launch U.S. Version of USDT Stablecoin Tether, the issuer of the world’s largest stablecoin, is planning to roll out a new product for the U.S. market by the end of 2025. Read More Mango Markets Fraudster Faces Prison in Unrelated Child Porn Case Avraham Eisenberg, known for orchestrating the $100 million exploit of Mango Markets in 2022, has been sentenced to over four years in prison on child pornography charges, a case separate from his high-profile crypto fraud. Read More

A company offering investment training under multiple brand names has been accused of defrauding consumers out of more than $1 billion through exaggerated earnings claims and deceptive business practices, according to a complaint filed Thursday by the Federal Trade Commission and the state of Nevada. The entity, collectively referred to as “IML,” operated as IYOVIA, IM Mastery Academy, iMarketsLive, and IM Academy. It promoted training in cryptocurrencies, binary options, forex, and stock trading. The FTC says IML misled consumers — many of them young adults — with bold promises of financial success, while internal data suggested most participants earned little to nothing. The complaint outlines how IML’s marketing pitched the possibility of earning up to $750,000 a month. In reality, only about 20% of its salespeople made more than $500, and the average annual income for those under that threshold was just $77.51 in 2022. “From brazen earnings claims to using unqualified salespeople as so-called trainers, the scale of this scheme is staggering,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. He highlighted the particular harm to young consumers, many of whom were targeted through college-focused social media ads. The FTC revealed that many of the company’s “educators” lacked legitimate financial expertise. Some reportedly relied on content from YouTube or company materials rather than any formal training. Nearly 90% of customers who signed up for the trading services stopped using them within six months—an indicator, regulators say, of widespread dissatisfaction and financial harm. The business reportedly operated as a multi-level marketing scheme, requiring members to recruit others while selling access to the firm’s financial training content. The FTC alleges that since 2018, this structure helped IML siphon around $1.2 billion from participants under false pretenses. The lawsuit names IML founders Christopher Terry and Isis Terry, along with top promoters Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd. The defendants are charged with violating multiple consumer protection laws, including the FTC Act, the Telemarketing Sales Rule, and the Restore Online Shoppers’ Confidence Act. “The breadth of this scam is remarkable—from brazen earnings claims to the fact that their so-called investment trainers are often nothing more than salespeople,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. “The harm to consumers—especially young people seeking to earn a living—is immense and ongoing.”

Italy’s financial regulator, CONSOB, has officially blocked access to the website of ArbiSmart, a cryptocurrency arbitrage platform, citing unauthorized investment services targeting Italian investors. ArbiSmart, which is registered and regulated in Lithuania under the oversight of the Financial Crime Investigation Service (FCIS), has been offering automated crypto arbitrage, interest-bearing wallets, and its native RBIS token to clients across the European Union. While this registration allows it to legally operate in Lithuania and comply with EU-level anti-money laundering (AML) and know-your-customer (KYC) obligations, it does not grant blanket permission to operate in all EU member states. CONSOB’s enforcement action stems from the platform’s failure to obtain the necessary local authorization or formally notify the Italian regulator through a passporting arrangement. Under Italy’s Growth Decree (Law No. 58 of 2019), CONSOB has the authority to block websites that offer financial or crypto-asset services without proper national registration. “Offering investment or crypto services in Italy requires specific compliance with our national rules,” said a CONSOB spokesperson. “Being registered elsewhere in the EU does not exempt platforms from their obligations here.” Italy’s proactive stance has been already serving as a model for other countries grappling with similar regulatory challenges, given the global nature of digital assets and online trading. The watchdog added new domains to its register of banned internet sources for illegally promoting trading products in the country. Specifically, Italian investors have been warned not to take out any financial services from the companies incorporated in the latest round of blackouts. This includes: “Egplus.vip” (website https://egplus.vip); “Egalite.bond” (website https://egalite.bond); Arbismart UAB (website https://arbismart.com and related page https://dashboard.arbismart.com); “Blockbyteq” (website https://blockbyteq.top). The action has been supported by the ‘Decreto Crescita’ law allowing CONSOB to obstruct Italian investors’ access to online brokers. The regulators took similar action throughout the past few years, ordering nearly 1304 domains to be blocked. This decree allows Consob to order Italian internet service providers (ISPs) to block websites operating illegally in the region. However, due to technical reasons, there can be a delay of several days before the black-out of these websites takes effect, especially if the websites temporarily shut down.

What happened at latest edition of the community event dedicated to FX/CFD Dealers in Cyprus and beyond Last week’s Dealers Connect 5.0 was a great success. Over 120 brokers, dealers, and fintech professionals gathered at Library Bar in Limassol for an evening that balanced valuable insights with relaxed networking. Evening Highlights Panel Discussions kicked off the evening as Elina Pedersen (Co-Founder & CRO, Your Bourse) and Roman Garanin (Founder & CEO, Yourfintech) were joined by Valter Timanov and Marat Sultanov on stage to unpack MetaTrader Infrastructure Optimisation and Sharp Flow. Guests enjoyed Gourmet Bites & Drinks throughout the night; altogether the menu, open bar, shishas, weather, and courtyard created a nice setting, perfect for socialising and catching up. The fifth edition of Dealers Connect also featured a Live Trading Contest, where attendees put their strategies to the test. Congratulations to the winners who walked away with Apple AirPods, Apple Headphones, and a Samsung Smartwatch! All attendees left with special keepsakes, including a custom Dealers Connect coin and other branded gifts, small tokens of thanks for being part of the community and making the event the success it was. Dealers Connect 5.0 underlined what makes this series of gatherings special: a tight-knit community, interesting discussions, and the right mix of fun. Stay Connected Dealers Connect Telegram: https://lnkd.in/dqWDeZCq Dealers Connect Podcast: https://www.youtube.com/@dealersconnectpodcast  Your Bourse: https://yourbourse.com Yourfintech: https://yourfintech.com

Bybit hosted the educational delegation from the top-ranking South Korean international school St. Paul American Scholars at its Dubai headquarters during May 2, 2025. The current visit represents an essential advancement of collaborations between these two organizations because they work on developing blockchain academic programs. Bybit maintains its dedication to fostering blockchain innovation talent through a meeting which gathered SPAS leadership at its Dubai facilities. Chief Operating Officer Helen Liu hosted the visit at Bybit headquarters where she met with Head of SPAS Ryan Kim and Director Jinny Kim to confirm their collective purpose of developing blockchain-ready future talent. Bybit dedicated $100,000 through its education commitment to establish a scholarship fund which provides support for 300 students enrolled at SPAS by 2025/26. The partnership enables SPAS to achieve its main educational objective which is building a strong community between students and their parents and teachers for learning together. Bybit promotes student learning about digital skills through educational workshops delivered on campus which seek to bridge academic curriculums with new digital knowledge. The fast-paced development of blockchain technology leads to global industrial transformations while students along with their parents have started to see its dynamic effects. Student success in the upcoming on-chain period requires mastery of technical proficiencies as well as visionary capabilities. Through their collaborative partnership Bybit and SPAS will provide blockchain learning experiences which motivate students to use innovative methods with meaning at the forefront. ila Bybit’s headquarters served as the platform where SPAS representatives gained discerning knowledge about the digital finance sector and cryptocurrency market. The meeting featured open communication opportunities between SPAS representatives and Bybit executive staff who shared real-world understanding about educational strategies within the blockchain marketplace. “We are proud to welcome the SPAS family to Bybit’s headquarters, and we hope this will become the starting point of SPAS students’ blockchain journey. The value of blockchain education is not only giving students a headstart in understanding the digital economy, but also to inspire them to think about changing the world for the better with a powerful technology that will one day be entirely at their disposal,” said Helen Liu, COO of Bybit.  “It is a great honor for Saint Paul International School to establish a meaningful partnership with Bybit, a global leader in blockchain technology. This visit to Bybit’s headquarters in Dubai was more than just a meeting; it was a precious opportunity to build a foundation of deep mutual trust,” said Ryan Kim, Head of SPAS. “Bybit’s warm-hearted commitment to providing scholarships for Saint Paul International School students and planning continuous social contribution programs deeply moved us all. We firmly believe that, with its sincere vision and values, Bybit will continue to shine as a world-leading company,” he said. All members of the SPAS delegation visited the new Bybit Crypto Ark Experience Store located at Bybit’s headquarters in Dubai. At the crypto space engagement platform visitors together with blockchain experts and entrepreneurs join forces to contribute toward developing the local digital ecosystem. SPAS started its operations in 2015 and operates four campuses across different key regions of South Korea while maintaining international curriculum authorization from multiple organizations. The educational establishment operates a student exchange system through its international partners in U.S., Canada and U.K. institutions which creates chances for students to study abroad while gaining exposure to global perspectives.

The Dubai Financial Services Authority has announced that it released a new explainer guide for its Innovation Testing Licence to support financial technology development within the Dubai International Financial Centre. The Innovation Testing Licence offers firms the ability to test new products, services, and business models under controlled conditions with modified regulatory requirements. Since its introduction in 2017, the DFSA used this licence as a foundation for fintech engagement in the DIFC. The explainer guide, available on the DFSA website, provides practical guidance to firms seeking to apply for the licence. It sets out the purpose of the framework, outlines who is eligible, and describes the expectations placed on participants during the testing period. DFSA prepares for the Dubai FinTech Summit 2025 Justin Baldacchino, Managing Director, Supervision, DFSA, commented, “As the financial sector continues to evolve at pace, we recognise the importance of supporting innovation with clear and transparent regulatory guidance. The DFSA’s Innovation Testing Licence explainer guide is designed to demystify the process and empower innovators with the knowledge they need to engage with the DFSA and bring transformative financial services to market in the DIFC.” The launch of the guide comes as the DFSA prepares for an active presence at the Dubai FinTech Summit 2025, scheduled for 12 to 13 May. During the summit, the DFSA will lead the Regulatory Forum on the first day, where discussions will cover AI regulation, cybersecurity oversight, tokenisation, and digital asset supervision. The DFSA also plans to host a Cyber and AI Regulatory College at the summit. This initiative will include speakers from regulatory bodies, academia, and private sector institutions to exchange views on risk management practices related to AI and cybersecurity. Delegates visiting the DIFC exhibition stand will have opportunities to discuss current DFSA initiatives, including the Innovation Testing Licence, the Tokenisation Regulatory Sandbox, and the Threat Intelligence Platform. The DFSA will also present its regulatory perspectives on crypto assets and hold sessions on sustainable finance and wealth management. A session co-hosted with the Global Blockchain Business Council will address crypto regulation. The DFSA will also provide feedback from its recent Expression of Interest as part of the Tokenisation Regulatory Sandbox, which supports testing of tokenised products within a supervised framework. Applications for the Innovation Testing Licence remain open throughout the year. The DFSA typically provides decisions within 10 to 12 weeks of receiving a complete application, depending on the responsiveness of the applicant and the quality of submissions. At the summit, the DFSA will continue its engagement with stakeholders to address current regulatory challenges and share progress on its digital finance programs. The Innovation Testing Licence remains a core feature of the regulator’s strategy to support innovation while maintaining oversight standards across financial services in the DIFC. The DFSA will participate in roundtable discussions during the summit, covering regulatory issues related to new technologies and cross-border collaboration. The regulator has positioned these sessions to gather industry input on policy approaches to digital finance and cyber threats. As the independent regulator of financial services in the DIFC, the DFSA supervises firms involved in banking, asset management, insurance, securities trading, and fintech. It also enforces anti-money laundering regulations and oversees exchanges including Nasdaq Dubai. The Innovation Testing Licence guide reflects the DFSA’s efforts to provide structured regulatory pathways for firms developing financial solutions in and from the DIFC.

CloudPay has announced that Tim Johnson will serve as its new Chief Revenue Officer, as the company reinforces its growth strategy following a £120 million capital raise completed in August 2024. Johnson joins CloudPay with over two decades of experience in SaaS and payroll-focused businesses. His appointment finalizes the company’s updated sales leadership team and reflects a wider push to expand commercial operations and support global revenue initiatives. “CloudPay is a beacon of excellence across the payroll landscape” Tim Johnson, Chief Revenue Officer, CloudPay, commented, “CloudPay is a beacon of excellence across the payroll landscape. Its award-winning product suite and best-in-category approach to customer service are true differentiators in a complex global industry. I look forward to playing a critical role in helping our customers to reach their benchmarks of growth and success.” Chief Executive Officer Roland Folz said the appointment supports the company’s revenue goals and focus on customer engagement. Roland Folz, Chief Executive Officer, CloudPay, commented, “Tim’s arrival marks a crucial step forward for our business, our brand and, above all, our customers. He will help strengthen how we drive growth, deliver value, and champion our partnerships. I look forward to welcoming Tim into the heart of our Executive Leadership Team, and supporting his strategy as he optimises our commercial levers, and maximises the potential of our main strategic investments.” CloudPay said the role will focus on expanding the firm’s commercial pipeline, improving customer value delivery, and strengthening strategic partnerships in its core markets. Johnson’s prior roles include senior revenue positions in several payroll and software companies. The company said the appointment builds directly on its recent investment round, which it described as a catalyst for new initiatives across product development, client services, and partner engagement. CloudPay provides payroll and payments solutions to clients operating across more than 130 countries and processes over $24 billion in payments annually. Johnson’s responsibilities will include revenue strategy, go-to-market execution, and customer lifecycle optimization. His arrival follows an organizational focus on enhancing client experience and simplifying global payroll operations through integrated technology platforms. CloudPay serves over 2,000 companies worldwide and integrates real-time analytics, automation, and managed payroll services. Its offering spans global payroll, payments, and on-demand pay solutions.

XTB has published its preliminary financial and operational results for the first quarter of 2025, showing record operating income and customer growth, while net profit declined year-on-year due to rising costs tied to the company’s global expansion and intensified marketing efforts. Operating income for Q1 2025 reached PLN 580.3 million, marking a 4.4 percent increase compared to the same period last year. However, net profit came in at PLN 193.9 million, down from PLN 302.7 million in Q1 2024, impacted by higher operating expenses totaling PLN 315.8 million, compared to PLN 205 million a year earlier​. XTB Reports 49.8% New Clients YoY The number of new clients surged to 194,304 in the quarter, a 49.8 percent increase year-on-year, bringing the total client base to 1.54 million. Active clients also rose sharply to a record 735,389, up 76.5 percent from the previous year. This growth aligns with the company’s target of acquiring between 150,000 and 210,000 new clients per quarter​. CEO Omar Arnaout commented that the strong client acquisition and engagement levels demonstrate the company’s ability to attract new investor segments, especially during periods of market volatility. “The growing number of clients serves as the foundation for our development in the coming years,” he said. The main contributors to revenue were CFDs based on indices, which accounted for 52.3 percent of income, led by instruments such as DE40, US100, and US500. Commodity-based CFDs followed at 29.1 percent, while currency-based CFDs made up 13.5 percent. The contribution from commodities fell year-on-year, while index-based CFD income grew, reflecting changing investor behavior and profitability shifts across asset classes​. Trading in stocks and ETFs also saw significant growth, with turnover rising to USD 4.1 billion, a 121.3 percent increase compared to Q1 2024. In the EU, 80 percent of first-time trades by new clients involved shares and ETFs, highlighting the platform’s appeal to long-term investors​. Marketing expenses increased by PLN 59.9 million year-on-year, totaling PLN 141 million in Q1 2025. Salaries and benefits rose by PLN 22.2 million, and commissions paid to payment service providers grew by PLN 12.5 million. XTB noted that the rise in external service costs was mainly due to investments in IT systems, licenses, and support services​. The company reiterated its expectation that total 2025 operating costs may increase by up to 40 percent compared to the previous year. Management indicated that marketing spending alone could rise by approximately 80 percent, depending on the performance of ongoing campaigns and client responsiveness​. Geographically, XTB advanced its expansion plans. In Q1, the firm launched its eWallet service, providing clients with a multi-currency card and enabling commission-free FX transactions. Nearly 22,000 clients activated the service, with 57 percent from outside Poland. The eWallet currently supports customers in nine European countries​. XTB also launched a PEA account in France and enabled ISA transfers for UK clients. Future plans include adding IKZE accounts in Poland and rolling out cryptocurrency trading, pending regulatory approvals under the EU’s MiCA framework. Options trading is also under development​. Internationally, the company is preparing to launch operations in Indonesia in the first half of the year and is in the process of obtaining regulatory licenses in Brazil. XTB also recently opened a second office in Dubai and obtained a securities agent license in Chile, allowing it to offer shares and ETFs there​. In terms of capital strength, XTB reported a total capital ratio of 189.3 percent at the end of March 2025. Unit net profit for Q1 stood at PLN 190.3 million. The company’s dividend proposal, which will be voted on during the upcoming Annual General Meeting, recommends a payout of PLN 5.45 per share from its 2024 profit​. As part of its product roadmap, XTB continues to evolve into a universal fintech application. The company launched an AI chat assistant in Poland and revamped its app interface to improve usability. The Product and Technology Department, which now employs over 520 staff, incurred costs of PLN 57.5 million in Q1 2025, reflecting ongoing investment in innovation and infrastructure​. Looking ahead, the company plans to further increase its marketing presence across Europe and expand its educational content through the XTB Foundation, while focusing on technology-driven growth in both mature and emerging markets.