Bitget has opened its TradFi trading suite to all users after completing a private beta. The beta ran from December and attracted strong interest. It focused on trading in gold, forex, and global macro assets.During the beta, more than 80,000 users joined a waitlist to access non-crypto products. Trading activity exceeded internal expectations. XAU/USD recorded more than $100 million in single-day trading volume, making it one of the most active instruments during the test period.Users Access TradFi Without Separate PlatformFollowing the beta, Bitget made several adjustments before the public launch. The TradFi suite now offers 79 instruments across metals, forex, indices, and commodities. All trades are settled in USDT. Users can access these products through existing Bitget accounts without opening a separate platform.Bitget said the interface is designed for users familiar with crypto trading. The company aims to allow access to traditional markets while keeping the same account structure and workflow. The offering supports macro-based trading strategies alongside digital assets.TradFi Launch Expands Beyond Crypto ServicesThe launch forms part of Bitget’s Universal Exchange, or UEX, strategy. The company is combining crypto and traditional asset classes within a single trading environment. It said liquidity, spreads, and leverage settings were adjusted during the beta using user feedback.? TradFi is now live for all on Bitget! Trade gold, forex & more in one place.We want your feedback—share it for a chance to win $10 (50 winners, $500 total).Your voice matters! ? https://t.co/DHXf3SUYgKhttps://t.co/1sbb7n9D9J pic.twitter.com/8MTkeQDexn— Bitget_DACH (@Bitget_DACH) January 5, 2026Gracy Chen, CEO of Bitget, said traders want “the flexibility to choose between assets in a unified ecosystem” and “the freedom to move between crypto and traditional markets as conditions change.” She added that the public launch is intended to provide access “in one place, without friction.”With the public release of TradFi trading, Bitget is expanding beyond crypto-only services. The move reflects a broader trend among exchanges to offer multiple asset classes through a single platform. This article was written by Tareq Sikder at www.financemagnates.com.

Do you know who the top brokers and fintech companies in the Middle Eastern and African region are? Then you should nominate them for one of the industry’s most credible awards: The UF AWARDS MEA 2026. Time is quickly running out, though, and the nomination round is closing on January 23rd. The UF AWARDS are a global series of awards that focus on the biggest, most innovative, and market-leading brokers, financial institutions, and fintech companies. If your brand fits that description, then don’t miss the opportunity to nominate them. Voted on by the publicThe reason the UF AWARDS are considered the most credible is due to their voting process. UF AWARD winners are not decided on by a small group of individuals or special interest groups. The awards are decided by a public vote that includes traders, industry professionals, clients, and partners. This ensures the utmost impartiality and practically eliminates the risk of vested interests skewing the outcome. Prove your favorite brand leads the competitionThe financial services and fintech industry is densely represented, an often challenging and noisy space. This is why brands and companies that manage to stand apart from their peers should be recognised for those hard-won achievements.The UF AWARDS help promote the people, brands, and companies that propel the industry forward through innovation, the best conditions, and advanced technology. It reinforces trust and credibility among potential clients and increases winners' profiles and regional footprint. It also proves that your nominated brand can stand neck to neck with some of the most well-established, B2B and B2C organisations. Multiple award categoriesResponding to the plethora of nominees, specializing in a diverse range of products and services, the UF AWARDS recognizes excellence across multiple fields. This includes awards, of course, for Best Broker and Best Trading Platform, but also Best All-in-One Brokerage Solution for top-tier Fintech firms and Best Institutional Broker for leading institutional financial service providers. Visit the UF AWARDS MEA 2026 site for a complete list of B2B and B2C award categories. Any member of the public can nominate a brand for any of the categories. Participants can also be nominated for multiple categories if they excel in more than one. How to Register NominationsThe last day to submit nominations is January 23rd, and time is running out. Here’s how:Register on the UF AWARDS MEA 2026 website.Log in after you register, choose the category from the dropdown that best represents your nomination: B2B or Broker Awards.Finally, click on the Award or Awards that best describes the nominee you wish to recommend.The voting round will be open from January 26th until February 4th. Once the votes the public submitted are tallied, the award winners will be announced on the 11th of February. Click the link for more information regarding the UF AWARDS MEA 2026 and past winners. Best of luck to all the participants, and we look forward to seeing all the extraordinary nominees from the Middle East and Africa rapidly driving the industry forward. This article was written by FM Contributors at www.financemagnates.com.

Exness Expands To Cape Town: Interview With CMO Alfonso CardaldaFinance Magnates’ Andrea Badiola Mateos sat down with Alfonso Cardalda, Chief Marketing Officer at Exness, during the grand opening of the company’s new office in Cape Town. This conversation builds on our earlier interview with Paul Margarites, highlighting Exness’ growing footprint across Africa. While Margarites discussed the broader expansion strategy, Alfonso addressed the marketing approach, local engagement, and the continued centrality of product quality in everything they do in South Africa.? Watch the complete interview Putting traders firstCardalda shared that at Exness, everything starts with the trader. The company focuses heavily on delivering a great product. This means stability, valuable features, and fair trading conditions. Retaining customers is just as important as getting new ones, and they do this by offering what traders actually need.In South Africa, traders are getting more advanced. There's a strong interest in learning and using innovative trading strategies. That’s why Exness is choosing its partners carefully. They’re not chasing big numbers; they’re focused on working with the right people.Marketing with meaningWhen asked about the marketing strategy in South Africa, Alfonso broke it down into a few key points:Clear message: Everything starts with having the right message. Traders need to understand what makes Exness different.Proper channels: It's not about using just one platform. Exness uses social media, PR, influencers, and more.Strong brand: The brand is built on values like trust and transparency. This comes from the leadership and runs through all communication."Marketing isn't about one channel. It's about combining the right message, the right product, and the right platforms."Exness does not just talk; it ensures that every aspect of its message reflects who it is and what it offers.? Watch the full interview Local faces, real connectionsA key part of Exness’s strategy in Africa is working with local and international influencers who serve as the brand's voice. These aren’t just marketing tools. They are people traders can talk to, ask questions, and get help from.In some African countries, local influencers work best. In others, people connect more with international voices. Exness adapts based on the country. That’s what makes their model work so well across different places.Expansion with controlGrowth is not easy, and Alfonso didn’t shy away from this. He said that expanding while keeping control is one of the biggest challenges for companies. At Exness, every new office or market entry is backed by careful planning. They don’t waste money. They study each move before making it.He also mentioned that many smaller brokers struggle because they don’t plan or manage costs well. That’s why Exness invests significant effort in analysis, cost control, and smart execution.Customer retention: not just a buzzwordRetaining traders means more than sending emails or running ads. At Exness, it’s about the product. Alfonso said if the product is strong, people stay. And if someone leaves, they often return and stay longer.To retain its traders, Exness runs targeted campaigns. These aren’t just emails. They include new product updates, influencer content, and other types of outreach that actually work.The Cape Town office shows its deep commitment to Africa, and there’s no doubt they’re here to stay.Looking to the futureExness is expanding its presence across Africa, and this interview with Alfonso Cardala offers valuable insights into the brand's philosophy: focused, measured, and always centred on the trader. With smart marketing strategies, strong product offerings, and local partnerships, Exness is establishing a benchmark for how financial services can grow with both ambition and responsibility.Watch the full interview nowto hear more from Alfonso Cardalda, CMO at Exness, on how the brand is moving forward in South Africa and beyond. This article was written by Finance Magnates Staff at www.financemagnates.com.

BMLL Technologies hired Karen King as its new Head of Sales for Asia Pacific, giving the market data company a senior executive to push into a region where it recently added nine new exchange feeds.BMLL Taps Karen King to Lead Asia Pacific ExpansionKing will work from Hong Kong to build BMLL's client roster across the region and shape how the company approaches growth in Asian markets, according to the press release sent to FinanceMagnates.com. The appointment comes roughly two months after Nordic Capital acquired BMLL in a deal that included existing minority shareholder Optiver.The timing also reflects BMLL's recent buildout across Asia. Over the past 14 months, the company added data from Shanghai, Bombay, ASX 24 futures and others. Those additions let traders and exchanges compare order book behavior across venues globally, something BMLL CEO Paul Humphrey says creates demand for deeper analytics."Following Nordic Capital's investment in BMLL, we are focused on accelerating the company's next phase of growth," Humphrey said. "Asia Pacific is a key part of that wider strategy as we aim to better serve our customers across the region."This wasn’t the only executive move this week. Former B2C2 sales executive Zeke Vince joined Robinhood as Global Head of Business Development for institutional crypto.Two Decades of Data Sales ExperienceKing spent more than 20 years in financial services and data solutions, most recently as Managing Director at S&P Global Market Intelligence after that company merged with IHS Markit. She originally joined through IHS Markit's acquisition of Data Explorers, where she worked with buy-side and sell-side clients across Asia Pacific, the Middle East and Africa.Earlier in her career, King worked in Prime Brokerage at Goldman Sachs in London, covering Southeast Asian clients. That background gives her experience on both the trading floor and the data vendor side of the business."BMLL has seen increasing demand from market participants looking to optimize trading strategies, improve execution outcomes and gain deeper insight into market behavior," King said.The company introduced its first execution analytics dataset built with direct client input in October, addressing coding challenges that trading firms face when analyzing order flow. In July, BMLL partnered with Ultumus to cut ETF spreads by 16% in initial tests by combining reference data with market analytics.Broader Push Into DerivativesBMLL provides what it calls Level 3 data covering global equities, ETFs, futures and US equity options. The company harmonizes this data across venues so researchers can apply statistical techniques without building their own infrastructure to clean and standardize raw feeds.Humphrey framed King's appointment as part of a larger emphasis on derivatives coverage worldwide. The Nordic Capital deal, completed in October 2025, followed a $21 million investment led by Optiver in October 2024. Before that, BMLL raised $26 million in Series B funding during 2022-2023 and $36 million across earlier seed and Series A rounds. This article was written by Damian Chmiel at www.financemagnates.com.

Bridging the DivideKraken’s strategic partnership with Deutsche Börse is expected to result in a range of new products and services across trading, custody, settlement, collateral management and tokenised assets. But it may also serve as a template for other link-ups.The agreement between the US-based cryptocurrency exchange and the Frankfurt-headquartered international exchange and market infrastructure provider promises to remove a number of obstacles that have deterred clients from moving between fiat currency and crypto, such as cost and time.As discussed elsewhere in this column, institutional investors are the holy grail for crypto exchanges – so if Kraken and Deutsche Börse can jointly smooth the transition for investors moving between traditional securities and digital assets, they will contribute significantly to the institutionalisation of cryptocurrency markets, particularly in Europe.In addition to connecting Kraken clients to 360T, the companies have said they will develop white label solutions that enable financial institutions to offer crypto trading and custody services. This is potentially significant for firms that lack the technical know-how to develop their own infrastructure.We just announced a groundbreaking partnership with Deutsche Börse Group to bring TradFi & crypto closer than ever.FX via 360T is phase one. Derivatives, enhanced liquidity, Embed, & xStocks are next.Institutional access is getting a serious upgrade.https://t.co/rtunQkmtyn— Kraken (@krakenfx) December 4, 2025Kraken will extend its American services to institutional clients of Deutsche Börse who are seeking exposure to cryptocurrencies. In turn, Deutsche Börse will make its European infrastructure available to Kraken’s clients worldwide.The parties will hope that this arrangement provides a solution to the regulatory challenges that have complicated cross-border cryptocurrency trading for institutions.The collaboration has the potential to speed up the adoption of compliant digital asset exposure among asset managers and banks. From a fintech perspective, it suggests that the convergence of digital and traditional markets is happening at a much faster pace than previously expected.Other financial institutions will undoubtedly be keeping a close eye on how this develops as they consider similar tie-ins to tap into unmet demand for crypto assets.Spot Crypto Trading Gathers PaceReferences to “golden ages” typically reflect nostalgia for a perfect past that never really existed, as well as optimism for a better future. Given Donald Trump’s fondness for all things gold (see his tasteful redesign of the Oval Office, for example), it should not be surprising that he has used this phrase repeatedly to describe his ambitions for cryptocurrency in the US.Trump is now remodeling the Oval Office to cover it in gold after ordering a $200 million golden ballroom.All after cutting 17 million Americans’ health care and taking food away from hungry children. pic.twitter.com/JtCJMaGzwd— No Lie with Brian Tyler Cohen (@NoLieWithBTC) August 7, 2025The latest phase of this broader vision came late last year when the acting chair of the Commodity Futures Trading Commission (CFTC) announced that listed spot cryptocurrency products would begin trading for the first time in US federally regulated markets on CFTC-registered futures exchanges.This move could allow market participants to carry out complex trading strategies such as the “basis trade”, which involves taking advantage of the price difference between spot and futures markets and can only be done if the trader holds both assets.The CFTC said it has a “rich history of welcoming responsible innovation on futures exchanges by balancing regulatory flexibility with core principles that protect both institutional and retail traders”. It added that recent events on offshore exchanges showed how important it is for Americans to have greater choice and access to safe, regulated US markets.As well as fuelling Trump’s narcissism (perhaps she should have referred to a “golden ego”), Caroline Pham also praised her own role, suggesting that the requirement for leveraged retail commodity trading to take place only on futures exchanges had existed for 15 years, and that it was only under her leadership that the regulator had provided clarity on how to list these products.To be fair, Pham does have a point, as previous high-profile enforcement actions against firms accused of running unregistered platforms point to regulatory uncertainty.The new regime should attract institutional investors who have been put off by concerns around custody and market transparency. However, exchanges will need to reassure this group that they have strong controls in place to prevent practices such as the simultaneous or near-simultaneous buying and selling of the same financial instrument to create a false impression of high trading volume and demand.Don’t Lose Your ConcentrationOne of the major themes of 2025 was the steady rise of tech stocks and the resulting concentration in US and global large-cap indices. The last time the US equity market accounted for such a high share of global equity markets, American combat troops had just left Vietnam, and the final mission of the Apollo space programme had landed the last man to walk on the Moon.Conventional wisdom suggests that the dominance of tech stocks in the S&P 500 creates significant concentration risk for investors whose portfolios are heavily weighted towards these names. The internet is full of articles warning about the dangers of relying on a small number of stocks and offering advice on where traders should look for value and diversification.2025 final performance:S&P 500: 16.39%Nasdaq: 20.36% pic.twitter.com/OeMeVcXef4— Brew Markets (@brewmarkets) December 31, 2025But what if concentration is a blunt way of measuring risk? Hollie Briggs, head of global product management for Loomis Sayles’ growth equity strategies team, believes the unintentional concentration investors get when buying an index such as the S&P 500 is very different from the deliberate concentration achieved by skilled investors. She also says there are clear steps investors can take to reduce concentration risk while keeping exposure to US growth stocks.“If you have passive exposure to a cap-weighted equity index, then as stock prices rise and short-term investors chase momentum, your portfolio becomes more concentrated in these stocks,” she explains. “For passive investors who bought exposure to a cap-weighted index believing it offered a broad mix of investments, this can increase downside risk because their holdings become unintentionally focused on fewer stocks.”Briggs contrasts this with active concentration, where investors choose not only which stocks they hold, but also the size of each position, based on long-term value.She also believes that owning a larger number of stocks does not always mean a portfolio is less risky, pointing to research suggesting that the benefit of adding more stocks falls sharply as the number increases. This article was written by Paul Golden at www.financemagnates.com.

Doo Group appears to be changing its trade name, as it has rebranded its South Africa- and United Kingdom-based brands to RKX. This comes months after the group rebranded its prime services brands to D Prime from Doo Prime.Another Rebranding for DooCompanies House filings show that the broker group changed the name of its UK-registered entity from Doo Clearing to RKX Financial yesterday (Tuesday). It has also updated the new trade name with the Financial Conduct Authority (FCA).However, the ownership structure appears to be the same.Although the UK website of RKX is not yet operational, the South African version indicates that its services are only available to “professional clients and eligible counterparties,” meaning there is no room for retail traders.The offering on the South African website also appears standard, as it provides contracts for differences (CFDs) on forex, indices, commodities, metals, and cryptocurrencies, with leverage as high as 1:1,000.[#highlighted-links#] Is the Rebranding Part of a Restructuring?The rebranding came after changes within Doo Group. Doo obtained a Cyprus licence in 2024 and opened a second office on the island last year. FinanceMagnates.com reported last October that the brokerage arm of the group was vacating its Limassol office following staff layoffs.The broker group also maintains a significant part of its operations in Malaysia. However, Malaysian authorities “conducted inspections” at the local office of Doo last year. The action by law enforcement was part of “a broader nationwide campaign against illegal call centres.”Meanwhile, a subsidiary of Doo Group recently obtained a money lenders licence in Hong Kong, which allows it to operate a money lending business in the autonomous jurisdiction. The group also secured an Indonesian licence in 2024 to expand its presence in Asia. This article was written by Arnab Shome at www.financemagnates.com.

Tradomatix launches unified trading technology infrastructure enabling seamless integration across asset classes and global marketsTradomatix today announced the launch of its global trading technology platform, designed to bring hedge funds, quantitative traders, AI trading agents, brokers, and advanced market participants together within a single, asset-agnostic environment.The platform arrives as financial markets undergo a fundamental shift toward data-driven decision-making, machine learning, and automated execution. Tradomatix provides the critical technology layer connecting participants, strategies, and intelligence—empowering modern trading operations to scale efficiently."Trading infrastructure has remained fragmented for too long," said Gary Tan, Director at Tradomatix. "We built Tradomatix to eliminate silos and enable hedge funds, quant traders, and AI systems to operate within one unified ecosystem."Key Platform Capabilities:Unified Integration Framework — Human-led strategies, quantitative models, and AI-driven agents operate seamlessly within a single technological environmentQuant-to-Capital Connectivity — High-performing quantitative traders gain access to institutional infrastructure while hedge funds efficiently deploy systematic strategiesAdaptive Machine Learning — Systems learn dynamically from market conditions, execution outcomes, and strategy behavior rather than relying on static automationAsset-Class Agnostic Design — Support for cross-asset workflows eliminates product silos and enables multi-market strategy executionNon-Custodial Architecture — Participants maintain control while leveraging institutional-grade infrastructureBridging Institutional and Advanced TradingTradomatix serves a diverse global user base spanning institutional hedge funds, professional quant traders, autonomous AI bots, brokers, and sophisticated retail participants. The platform reflects the evolving structure of modern markets, where participants increasingly rely on shared underlying technology regardless of size or classification.AvailabilityTradomatix is now available to qualified hedge funds, quantitative traders, AI trading system developers, brokers, and advanced market participants globally.About TradomatixTradomatix is a global trading technology platform enabling hedge funds, quantitative traders, AI trading agents, autonomous bots, brokers, and advanced traders to integrate intelligent trading systems within a unified, non-custodial, asset-class-agnostic environment.Website: https://www.tradomatix.com/ This article was written by FM Contributors at www.financemagnates.com.

WNSTN, a global provider of AI powered financial intelligence, today announced a strategic partnership with Meritz Securities, one of South Korea’s leading retail trading and investment platforms. Meritz will integrate WNSTN’s AI technology into its next-generation digital investment platform to enhance client engagement, operational efficiency, and regulatory compliance.Meritz Securities, one of the top financial institutions in Korea for U.S. equities trading, is building a new AI driven platform designed to enhance investor experience while meeting the evolving standards of financial consumer protection. By adopting WNSTN’s solution, Meritz gains access to a fully compliant financial AI system capable of supporting real-time client inquiries, investment knowledge, and regulatory aligned interactions across multiple channels.“We are honored to partner with Meritz Securities, a market leader known for its commitment to innovation and customer experience,” said Jamie Rakover, Co-Founder of WNSTN. “This collaboration reflects a shared vision for the future of digital finance, combining advanced AI capabilities with the strict compliance standards required in regulated markets.”Roy Michaeli, CEO of WNSTN added: “Our mission is to help financial institutions implement AI powered tools that deliver hyper personalized, intelligent investment experiences, enhance market clarity and confidence, and give traders a competitive edge to make better informed decisions.”Through this partnership, Meritz will be the first major Korean financial institution to deploy WNSTN’s infrastructure grade AI capabilities. The companies are collaborating closely on tailoring the system to Korean regulatory requirements and Meritz’s long term product vision.“This partnership strengthens our ability to deliver an exceptional, hyper personalized digital experience to our clients,” said The Executive Director, Jang-Wook Lee, of the InnoBiz Center at Meritz Securities, who is leading the platform launch. “WNSTN brings advanced financial AI, strong compliance controls, and a deep understanding of the needs of regulated institutions. We are excited to work together to accelerate our innovation roadmap.”The integrated platform is expected to launch in early 2026 as part of Meritz’s new AI powered investment service.About Meritz SecuritiesMeritz Securities is one of South Korea’s leading financial institutions, offering brokerage, investment banking, wealth management, and digital trading services. Known for its strong presence in U.S. equities trading and its focus on technology driven innovation, Meritz serves millions of retail and institutional clients.About WNSTNWNSTN is a global provider of compliant AI solutions for financial institutions, brokerages, and capital markets firms. Built with layered compliance controls, multi agent financial intelligence, and enterprise grade security, WNSTN enables institutions to deploy real time AI safely across client engagement, service automation, and internal analytics workflows. WNSTN is headquartered in the U.S. with teams across North America, Europe, and the Middle East. This article was written by FM Contributors at www.financemagnates.com.

Alpaca announced yesterday (Tuesday) it intends to acquire Zincmoney IFSC, a broker-dealer licensed by India's International Financial Services Centres Authority (IFSCA) and operating from the Gujarat International Finance Tec-City (GIFT City).Alpaca Moves Into India Through GIFT City AcquisitionThe deal gives the U.S.-based brokerage API provider access to Indian brokerage licenses and infrastructure through a special financial zone that is targeting global firms seeking a regulated entry point into India's market. "The acquisition of Zincmoney is critical to building truly global brokerage infrastructure," Yoshi Yokokawa, Co-Founder and CEO of Alpaca, said in a statement. Zincmoney has worked with Indian financial institutions and fintechs since establishing operations in GIFT City.Zincmoney operates as a broker-dealer offering international securities and products listed on GIFT City exchanges. The firm also provides services for overseas education funding and restricted stock unit management. The acquisition includes a payment service provider license that processes customer transfers in India.Alpaca offers multi-asset brokerage infrastructure covering U.S. stocks, options, fixed income, and crypto. The company recently secured Nasdaq exchange membership and won options and fixed income clearing memberships to reduce reliance on third-party clearing.GIFT City Draws More Financial FirmsThe transaction requires regulatory approval from IFSCA, which oversees broker-dealers and other financial intermediaries operating in GIFT City. GIFT City hosts over 1,000 registered entities, including 38 global and Indian banks with combined assets exceeding $100 billion.Operating with its own market watchdog, it brings a model similar to Dubai's International Financial Centre (DIFC), which houses over 70 brokerage firms under the oversight of the Dubai Financial Services Authority (DFSA). The DIFC reported strong growth in the first half of 2025, with its banking and capital markets cluster expanding to 289 companies. Mayuresh Kini, who leads Zincmoney IFSC, will become CEO of Alpaca India following regulatory approvals. "Joining Alpaca allows us to accelerate what we set out to build, making global investing and IFSC products accessible to Indian households through the partners they already trust," Kini said.Other U.S. financial firms have recently moved into GIFT City. StoneX expanded operations in India last year, establishing offices in Bangalore and Pune while joining the International Bullion Exchange.Alpaca has been expanding its product set over the past year, launching 24/7 tokenized trading of U.S. equities and partnering with platforms like Gotrade to bring options trading to 22 million investors across Southeast Asia.The company said the acquisition positions it as a full-stack global brokerage infrastructure provider for brokers, banks, and fintechs launching investing and wealth products. Alpaca has raised over $170 million in funding. This article was written by Damian Chmiel at www.financemagnates.com.

Telegram’s push to expand its financial footprint has hit a major roadblock after $500mn of its bonds became frozen in Russia due to Western sanctions.According to the Financial Times, about $500mn of the firm's outstanding bonds have been immobilised in Russia’s central securities depository following the inclusion of the National Settlement Depository in Western sanctions lists. Bonds Frozen in Russian DepositoryThe restrictions, introduced by the EU, UK and US after Russia’s 2022 invasion of Ukraine, effectively prevent foreign companies from accessing Russian-held securities.Telegram raised about $1.7bn in a bond sale in May 2025, largely to refinance existing debt and buy back bonds maturing in 2026. According to people familiar with investor talks, the company acquired most of that debt but remains unable to access the portion now frozen in Moscow.The freeze marks a setback for founder Pavel Durov, who has spent years separating both himself and Telegram from Russia. Since then, Telegram has relocated to Dubai and repeatedly denied suggestions it remains politically influenced by the Kremlin.Telegram has told investors it will repay the frozen debt at maturity, leaving paying agents and depositaries to determine whether Russian bondholders can receive funds. The company declined to comment publicly.The development comes as Durov faces separate legal proceedings in France, where he was placed under formal investigation in 2024 over alleged failures to combat illegal content on the platform.Telegram hit by $500mn Russian bond freeze https://t.co/fQV3T3auoA— Financial Times (@FT) January 6, 2026During recent calls, company executives told bondholders that any listing would need to wait until the French matter is resolved but emphasised that Telegram continues to cooperate with authorities and expects further progress in 2026.Financial PerformanceDespite regulatory and geopolitical obstacles, Telegram’s financial performance continues to strengthen. According to unaudited figures seen by investors, first-half 2025 revenue rose 65% year on year to $870mn. Subscription income nearly doubled to $223mn, while advertising brought in $125mn. The company reported cash and cash equivalents of $910mn at mid-2025, up from $142mn a year earlier.Related: Telegram-Linked Cryptocurrency TON Gains Ground With Coinbase DebutOperating profit reached almost $400mn, but Telegram recorded a $222mn net loss due to a write-down in the value of Toncoin, its affiliated cryptocurrency, which fell sharply during 2025’s crypto downturn.Toncoin remains central to Telegram’s strategic focus. After abandoning direct control of the project in 2020 under US regulatory pressure, Telegram continues to develop integrations with the token, requiring payments for advertising on the platform to be made in Ton. As of June 2025, Telegram held digital assets worth $787mn, down from $1.3bn a year earlier, and reported Toncoin sales exceeding $450mn during the period. The token’s rising visibility has been supported by listings on major exchanges including Coinbase, Kraken, and Gemini. This article was written by Jared Kirui at www.financemagnates.com.

TMGM Group is hiring a Senior or Lead Crypto Quant Trader to support its crypto perpetuals market-making operations. The role involves building a full trading stack, including pricing and quoting engines, execution systems, order management, and exchange connectivity. Candidates will also implement funding-rate-aware quoting, systematic hedging, and real-time risk monitoring.The move reflects a broader industry trend. Platforms such as Crypto.com are creating internal market-making teams to trade on their own products, raising discussions around risk management and market neutrality. TMGM’s hiring follows a similar pattern, focusing on crypto perps within its CFD operations.Senior Quant Role Supports TMGM CryptoThe position aligns with TMGM’s CFD offering, which includes Forex, Shares, Commodities, Indices, and Futures. Expanding into crypto perps is part of the firm’s strategy for a possible extension of its CFD platform beyond traditional markets.Founded in 2013 and headquartered in Sydney, TMGM employs more than 500 staff across three continents. The firm serves as Chelsea FC’s Official Regional Online Forex and Trading Partner in Asia Pacific.CFD-Focused Broker Builds Desk for Crypto TradingLast year, FxPro offered crypto CFDs as part of its trading platform. The broker is now establishing a dedicated crypto trading desk, expanding beyond its existing FX and CFD operations. A job posting for a Senior Crypto Manager based in Cyprus outlines responsibilities for managing strategy, execution, and risk across the firm’s crypto trading function.Other brokers such as Hantec Markets and XTB recently expanding digital asset offerings. These include 24/7 crypto CFD trading, lower spreads, higher exposure limits, and plans to list additional cryptocurrencies, including smaller tokens.In a related move, FalconX, a crypto prime brokerage, announced it is launching a dedicated FX desk in London, providing access to 20 fiat currency pairs, including USD, EUR, and GBP. The desk targets crypto firms, exchanges, and brokers, offering liquidity and traditional FX market functionality. It is led by former BCB Group executives. This article was written by Tareq Sikder at www.financemagnates.com.

Investing and trading platform IG will increase the interest rate on uninvested cash for new clients and remove quarterly inactivity fees from its investment accounts. Other brokers have offered similar incentives. eToro provides interest on uninvested cash, BidX Markets offers yields on idle funds, XTB introduced cash interest for certain accounts, and Interactive Brokers removed inactivity fees. These moves reflect a trend of brokers attracting retail investors through competitive fees and returns on uninvested cash. UK Accounts See IG Fee ChangesFrom the beginning of this year, new UK customers who open an IG Stocks and Shares ISA, General Investment Account, or Self-Invested Personal Pension and place their first trade will be eligible for 7.5% variable AER interest on up to £10,000 of uninvested cash. The offer applies to accounts opened from mid-January and runs up to March this year.Michael Healy, UK Managing Director at IG, said the changes aim to provide “more value to investors who want to take their time over their next move and invest at their own pace,” highlighting the firm’s focus on offering a competitive return on uninvested cash and removing inactivity fees.IG Ends Custody Fees, Adds PerksTo qualify for the interest each month, customers must either hold an active Smart Portfolio, have an open share position at any point, or place at least one buy or sell trade on an eligible IG account. Cash balances above £10,000 will earn interest in line with IG’s standard terms, currently set at the Bank of England base rate.Separately, IG will remove its £24 quarterly custody fee. The fee had been charged to investment accounts making fewer than three trades per quarter. Its removal means customers will no longer pay for holding investments or trading infrequently.Under the updated structure, UK investors will also have commission-free trading on all shares and ETFs, no platform or account maintenance charges, and no deposit or withdrawal fees. This article was written by Tareq Sikder at www.financemagnates.com.

FTMO has introduced an institutional-grade Know Your Business (KYB) framework for onboarding corporate clients, signaling a move towards infrastructure typically seen at licensed brokers. Integrating iDenfy’s KYB solution enables FTMO to automate verification of corporate entities, ownership, and UBOs—common for brokers, but rare and notable for a prop firm. From Retail-Focused Prop Model to Broader Financial Infrastructure FTMO has historically positioned itself as a trading education and simulation platform, catering primarily to individual traders. Introducing full KYB capabilities goes beyond the compliance needs of that core audience and suggests preparation for more complex counterparties, including corporate partners, affiliates, and B2B relationships. This development is consistent with FTMO’s broader strategic direction, exemplified by its partnership with multi-asset broker OANDA. Gaining a regulated brokerage arm places greater emphasis on institutional-grade onboarding and ongoing compliance as foundational requirements. For licensed brokers, KYB is a regulatory requirement. For a prop firm, adopting these standards is a strategic choice that signals FTMO’s intention to broaden its operational scope to include more diverse business models while future-proofing compliance. Compliance as a Strategic Choice, Not a Regulatory Obligation FTMO cites flexibility and auditability as key considerations in selecting the KYB solution. “The ability to customise our KYB flow to match internal procedures was a decisive factor,” said Pavel Dusek, COO of FTMO, pointing to the need for a scalable system capable of supporting future growth. The iDenfy solution automates verification of corporate documentation across more than 180 company registries globally. Brokers handling international corporate accounts and cross-border partnerships typically use this functionality. From the vendor’s perspective, the integration reflects a broader trend among fast-growing financial firms. “FTMO operates at scale in a dynamic environment,” said Domantas Ciulde, CEO of iDenfy. “Automated KYB allows firms to verify corporate clients efficiently while maintaining transparency.” This article was written by Tanya Chepkova at www.financemagnates.com.

Hong Kong’s financial market regulator has reprimanded and fined the local unit of Saxo Bank HK$4 million (approximately US$514,000) for offering retail customers 32 crypto products meant only for professionals.This comes a year after Saxo closed its office in Hong Kong and subsequently shut down operations in the jurisdiction.Saxo’s Big Lapse in Hong KongAnnounced today (Tuesday), the Securities and Futures Commission (SFC) said that Saxo Capital Markets HK offered unauthorised virtual asset products on its online platform between 1 November 2018 and 25 November 2022.According to the regulator, the local Saxo unit did not realise the deficiencies in its crypto product offering until its Danish parent notified it in November 2022.“These products should only be offered to professional investors (PIs) according to two SFC circulars to intermediaries which were effective at the material time,” the regulator stated.The regulatory investigation revealed that the broker executed 1,446 transactions involving 32 virtual asset products for six individual professional investors and 130 retail clients. It also stressed that “all of them were complex products, including 21 exchange-traded derivative products (exchange-traded derivative VA products).”[#highlighted-links#] No Customer Knowledge AssessmentHong Kong’s SFC is alleging that the Saxo unit “did not assess whether the clients had knowledge of investing in virtual asset products, nor did it provide them with sufficient information and warning statements specific to virtual assets.”Specifically, the regulator found that the broker failed to assess the knowledge of 87 Saxo Hong Kong clients, including 82 retail clients, who traded the 21 exchange-traded crypto derivatives.The company allegedly did not have any specific procedures in place for conducting product due diligence on virtual assets during the period of breach.“It relied on certain protocols established on a group-wide basis by its parent company to identify instruments with VA exposure,” the SFC added. “Due to deficiencies in the protocols, the 32 VA products were not identified as such.”Saxo, which failed to go public despite inking a deal with a blank cheque firm in 2022, is reportedly attempting a sale. Investors, including Altor Equity Partners, Centerbridge Partners, and Interactive Brokers Group, have shown interest in the Danish broker.Meanwhile, Saxo also consolidated operations in Asia Pacific, apart from the closure of its Hong Kong and Shanghai offices. It sold over 80 per cent stake of its Aussie unit last year to a South African tech provider. This article was written by Arnab Shome at www.financemagnates.com.

StoneX Digital has received a Crypto-Asset Service Provider licence under the European Union’s Markets in Crypto-Assets Regulation. The licence was granted by the Central Bank of Ireland.StoneX Group also operates the retail trading brand Forex.com. The platform became part of the group after StoneX acquired GAIN Capital in 2020. Forex.com provides foreign exchange and CFD trading services to retail clients through locally regulated entities in several jurisdictions.StoneX Enables Institutional Crypto Execution EUStoneX Digital launched in June 2022. The authorisation allows the firm to provide digital asset execution and custody services across the European Union. These services will operate under the MiCA regulatory framework.[#highlighted-links#] Brian Mulcahy, Chief Executive Officer of StoneX Digital, said the firm aims “to enable our institutional and corporate investor base to integrate new products and new technologies into their existing investment lifecycle.” He said the company focuses on “reducing the friction” between traditional finance and digital assets.StoneX Digital has operated as a Virtual Asset Service Provider for more than a year. With the new licence, it can expand its regulated activities within the EU. The business serves institutional and corporate clients.StoneX Digital Expands EU Crypto OperationsStuart Davison, Chief Operating Officer of StoneX Group Inc., said the authorisation supports the group’s long-term strategy. He said it helps clients integrate “new products and technologies into their existing operating and investment frameworks.” He also referred to building “regulated, scalable infrastructure.”StoneX Expands Retail Trading, India OperationsEarlier, StoneX Group reported growth in its FX and CFD trading business, showing strength in its broader operations alongside the expansion of StoneX Digital into crypto. Q4 revenues rose 7% to $84.7 million, and FY24 revenues increased 21% to $316 million. Retail trading volumes remained steady, and revenue per million traded rose 8%.Overall net income for the quarter was $76.7 million, up 51% year-on-year. In October, StoneX expanded in India with new offices and IIBX membership, and made a $480 million takeover offer for UK-listed CAB Payments. This article was written by Tareq Sikder at www.financemagnates.com.

How much did prop firms pay traders in 2025? Although these payout figures are often debated, Prop Firm Match tracked that these companies paid a total of almost $325 million to traders last year.The prop firm review and rating website published the figures based on its payout tracker.In 2025, $324,963,316 in payouts were tracked on Prop Firm Match ?Top Firms by Payout Volume:? @FundedNext – $107,794,710? @fundingpips – $97,088,576? @fnfutures – $46,917,040The firms with payout tracking implemented are included in this list. pic.twitter.com/opAdgHqwcN— Prop Firm Match (@PropFirmMatch) January 5, 2026FundedNext Topped the ListDubai-based FundedNext ranked at the top, paying out almost $108 million. FundingPips and FundedNext Futures, the futures prop unit of FundedNext, followed with $97 million and $46 million, respectively.Top One Futures and E8 Markets, two other futures prop platforms, paid out almost $21 million and $19 million, respectively, to traders.Related: Can You Trust Prop Firms' “Total Payouts” Claims?Prop Firm Match’s payout tracker sources individual payout data directly from prop firms.“It offers a clear view of trading performance and is shared directly by firms, allowing traders to see how payouts are spread across the industry,” Prop Firm Match said.[#highlighted-links#] Missing Leaders?Despite the large figure, major firms such as FTMO and The5ers are missing from the Prop Firm Match payout tracker.Although The5ers has never shared its payout figures publicly, FTMO’s founder and CEO, Otakar Šuffner, revealed last September that his company has paid out more than $450 million to traders since launch.While FundingPips made it to the top of Prop Firm Match’s 2025 payout list, FundingTicks, a futures prop platform owned by the same group, recently faced strong backlash after changing its trading rules. These changes included a minimum one-minute trade hold time and a reduction in the profit split, applied with retroactive effect, which affected trader payouts and profitability. The platform later reversed the retroactive application of the rules.Prop firms often advertise payout figures to build trust in their brand, especially in an unregulated industry. However, such claims are often questioned by many over their accuracy. This article was written by Arnab Shome at www.financemagnates.com.

LHCM, the UK-regulated brand of the Exante Group, has suspended the onboarding of new clients and has also stopped accepting deposits from existing clients. According to a notice on LHCM’s website, the move is “voluntary” and in agreement with the Financial Conduct Authority.Another Broker Limiting Its UK Presence?The company explained that the suspension includes restrictions relating to “monies or assets under the client assets regime, title transfer collateral arrangements, delivery versus payment transactions, matched principal transactions or otherwise”.Furthermore, the broker said that the service suspension may affect the opening of new trades.It should be noted that the UK unit was not accepting retail clients even before the latest suspension of client onboarding.The suspension took effect on 22 December 2025, but the company did not mention any plans for the resumption of full services.“We want to reassure you that your interests remain our highest priority and most services continue as normal,” the notice added.FinanceMagnates.com reached out to Exante to understand its plans in the UK, but did not receive a response as of press time.Shifting Focus in Other MarketsApart from the UK, Exante is also regulated in Cyprus and is onboarding clients under that unit. It also has a presence in Malta and Hong Kong.Last year, the brokerage group also expanded by opening a new office in Dubai.Meanwhile, Exante is not the only broker to suspend client onboarding. Admirals, a retail contracts for differences (CFDs) broker brand, halted onboarding in the European Union in early 2024, but resumed the service about a year later.However, several established brands are also leaving the UK market. Recently, FinanceMagnates.com reported that Gain Capital, which operates Forex.com, plans to surrender its FCA licence after shifting services to its Dubai base.Hirose and AETOS are two other brands that have stopped offering retail services in the UK and some other markets. Both brokers now have a limited presence only in their core markets — Japan for Hirose and Australia for AETOS. While AETOS surrendered its FCA licence, Hirose is now only offering services to institutions under it. This article was written by Arnab Shome at www.financemagnates.com.

Nicolás Maduro and his wife, Cilia Flores, are now in US custody and face federal charges in New York that include narco-terrorism conspiracy and weapons offenses. Meanwhile, Public data sets that track sovereign and corporate Bitcoin treasuries attribute around 240 BTC to the Venezuelan state, valued in the tens of millions of dollars at recent prices. Separate reports, however, claim that the Maduro government may have accumulated a much larger, undisclosed Bitcoin position while under US sanctions. According to Whale Hunting, the total holdings could reach up to 600,000 BTC, implying a notional value of about 60 billion dollars at current market levels, although these figures remain unconfirmed and rely on indirect evidence.If those estimates are correct, the alleged reserve would represent close to 3% of Bitcoin’s circulating supply and place Venezuela among the largest known holders.Alleged Accumulation via Gold SalesSources cited in recent analyses link the rumored reserve to steps Venezuela allegedly took to obtain hard currency while cut off from much of the global financial system.According to these accounts, the government sold physical gold from the Orinoco Mining Arc and used some of the proceeds to buy Bitcoin, with one tranche estimated at roughly 2 billion dollars executed at an average price near 5,000 dollars per coin.JUST IN: ???? US government could seize Venezuela's Bitcoin & crypto reserves, CNBC says. pic.twitter.com/B6NN05qJFi— Watcher.Guru (@WatcherGuru) January 5, 2026Additional reports say Venezuela’s state oil company asked some buyers to pay in Tether (USDT) rather than using the traditional banking system to avoid sanctions-related blocks.Related: Why Oil Prices Are Falling? Brent and WTI Slip after Maduro Capture in Venezuela as Gold SurgesThis alleged reserve-building aligns with domestic policy shifts. In May 2024, Venezuelan authorities banned Bitcoin mining and seized thousands of ASIC machines, citing energy concerns, while also discontinuing the state-backed Petro token.Everyone’s focused on the oil… But here’s what’s being missed ?Venezuela is reportedly among largest Bitcoin holders… Over 600,000 $BTCWorth $55+ BILLION at current pricesThis isn’t just an energy story.It’s a sovereign Bitcoin narrative.And the market hasn’t priced… pic.twitter.com/C5K94i8nfG— cryptothedoggy (@cryptothedoggy) January 5, 2026If US investigators identify and secure wallets linked to Venezuelan state Bitcoin holdings, the coins could become subject to a complex legal process rather than immediate sale.A New Focus on Undisclosed Sovereign BTC ExposureFor the Bitcoin market, that kind of freeze would remove a large block of supply from active circulation and delay any significant liquidation risk linked to Venezuela. According to market analysts risk sentiment remain strong.“Overall, risk sentiment is strong and events in Venezuela did not weigh on positive momentum. However, this does not mean that the recent events in Venezuela have been dismissed by traders,” according to Kathleen Brooks, Research Director at XTB “Instead, they could keep upward pressure on defense stocks as investors assess who could be the next target for the US, and as Russia and China get emboldened to violate UN law to meet their own foreign policy goals.”US forces transferred the couple from Venezuela to the USS Iwo Jima and then to New York, where they entered not-guilty pleas before a federal judge. Their detention marks a major escalation in US action against Venezuela’s former leadership after years of sanctions and diplomatic confrontation.In 2019, Maduro directed Banco de Venezuela, the nation’s largest bank, to accept deposits of the Petro, Venezuela’s state-backed cryptocurrency. The directive mandated its use across all its branches, according an announcement from the country’s Finance Ministry. This article was written by Jared Kirui at www.financemagnates.com.

Zeke Vince said on LinkedIn today (Monday) that he is starting at Robinhood as the Global Head of BD for Institutional Crypto.The move comes as Robinhood reported quarterly results in February last year that exceeded market expectations. Revenue reached $1.01 billion, above the consensus estimate of $849.06 million.At that time, the company said quarterly net revenue more than doubled from a year earlier. Cryptocurrency generated $358 million in revenue and was the largest contributor to transaction-based revenue of $672 million. This was higher than options revenue of $222 million. Equity trading revenue also increased and reached $61 million.Robinhood Hires Vince for Institutional CryptoVince joins Robinhood after more than three years at B2C2. He joined the firm in late summer and served for about three and a half years. During that time, he held the role of Head of Sales and Managing Director.Before B2C2, Vince worked at Bank of America Merrill Lynch for more than five years. He spent about three years as Global Head of eFX and Algo Sales. Earlier, he served for around two and a half years as Head of Americas eFX and Algo Sales, Director.Earlier in his career, Vince spent just over five years at J.P. Morgan in New York. He began as an Associate in eFX Sales and later spent more than three years as Vice President eFX Sales.He started his career at Credit Suisse. He worked there for about one and a half years as an Associate in eFX, based in the Greater New York City Area.Florida Investigates Robinhood Crypto Over Low-Cost Trading ClaimsRobinhood is also facing regulatory scrutiny. The company is under investigation by Florida’s Attorney General over claims that it offers crypto trading “at the lowest cost on average.” The state has issued a subpoena seeking internal documents. Authorities said Robinhood Crypto may be violating the state’s Deceptive and Unfair Practices Act. The investigation also examines the platform’s payment-for-order-flow model. Robinhood stated that it discloses all relevant pricing and fees to users. This article was written by Tareq Sikder at www.financemagnates.com.

Polymarket and Parcl are moving real estate into onchain prediction markets, creating a new venue where traders can speculate on the direction of housing prices without touching physical property or long-term mortgages. The integration links Polymarket’s event-based markets with Parcl’s independently published, daily home price indices, reportedly enabling faster, rules-based settlement of contracts tied to major U.S. housing markets.Under the partnership, Polymarket will list and operate a new suite of housing-focused prediction markets, while Parcl will supply the independent index data and final settlement values.Real Estate Markets are officially live on @Polymarket ?Predict home values, exclusively powered by Parcl data. pic.twitter.com/AGj1WKUGRC— Parcl (@Parcl) January 5, 2026The indices, produced by Parcl Labs, track home prices in near real time and serve as the objective reference point for determining whether a market resolves higher or lower over a given period.How the New Markets Will WorkAccording to the official announcement, the first wave of markets will focus on major U.S. cities, with contracts framed around the movement of Parcl’s city-level home price indices over set timeframes.“Prediction markets work best when the data is clear, and the outcome can be verified without debate,” commented Matthew Modabber, the CMO of Polymarket. “Parcl’s daily housing indices give us a strong foundation to launch housing markets that settle transparently and consistently.”Typical structures will ask whether a given city index finishes a month, quarter, or year up or down, or whether it crosses specific price thresholds by a stated date.Each market will link to a dedicated Parcl resolution page that shows the final settlement value, historical index context, and the methodology used to calculate the index. By using published indices instead of discretionary judgments, the partners aim to reduce ambiguity around resolutions and to lower the risk of settlement disputes.Keep reading: Polymarket Rolls Out U.S. App After CFTC Green Light, Starting With Sports EventsReal estate remains the world’s largest asset class, yet investors often need to navigate property-level complexity, leverage, and long holding periods to express even a simple view on price direction.Why It Matters for Housing and CryptoBy combining daily index data with Polymarket’s event-market structure, the new product offers a more direct way to trade housing outcomes, with clear rules and public, auditable resolution data.Parcl operates a real-time housing data and onchain real estate platform, delivering indices and analytics that allow users to gain long or short exposure to home price movements.Meanwhile, Blockchain analyst defioasis.eth recently released data showing that roughly 70% of Polymarket’s 1.7 million trading addresses have realized losses, mirroring loss rates long observed among retail CFD traders in traditional markets. The analysis covered Polymarket’s entire trading history through December 28, examining realized profit and loss for 1,733,785 unique addresses.A separate report also showed that Polymarket is outperforming most decentralized finance projects in keeping users active. According to Dune and Keyrock, Polymarket maintained stronger month-to-month user activity than 85% of the platforms analyzed. This article was written by Jared Kirui at www.financemagnates.com.