Author: News Desk

Deutsche Bank is making a significant move to bolster its presence in Indonesia by doubling its local capital to IDR 10 trillion (approximately €600 million). This substantial infusion of funds is strategically designed to propel the bank’s growth in the country, facilitating an expansion of its services for clients. Notably, this marks the third capital increase by Deutsche Bank in the Asia Pacific region this year, following earlier investments in Vietnam and South Korea. Within Indonesia, Deutsche Bank offers a wide spectrum of corporate banking solutions that cater to multinational companies, large local corporates, and financial institutions. Its comprehensive services…

SIX Swiss Exchange, a prominent player in the ETF industry for over twenty years, has launched a groundbreaking initiative known as ETF QOD Europe. This innovative service is poised to revolutionize the trading experience for users by enabling them to trade a wide array of financial instruments from various European markets. Notably, these markets include the London Stock Exchange, Euronext Amsterdam, Euronext Brussels, Euronext Paris, Deutsche Börse XETRA, Borsa Italiana, Wiener Börse AG, and Nasdaq Stockholm AB. The introduction of ETF QOD Europe solidifies SIX’s position as a regulated exchange operator, granting access to approximately 6,000 ETFs and ETPs through…

Revolut, the London-based fintech giant, has made a bold move by launching its crypto trading services in New Zealand just days after news of restrictions on its crypto services in the UK surfaced. Effective from today, these services will be accessible to customers in New Zealand. In a statement released by the company, Revolut unveiled its “Learn and Earn” program as part of its expanded service offerings in the country. This program aims to empower crypto traders with free educational courses, helping them navigate the world of cryptocurrencies. Additionally, Revolut has collaborated with Koinly to simplify the crypto tax filing…

FTX has recently reached a settlement agreement with the liquidators of its Bahamian subsidiary, marking a significant development in the ongoing insolvency proceedings. This arrangement entails the consolidation of assets and the adoption of a unified approach to assess customers’ claims. In a statement released through PR Newswire, FTX has allowed its customers the option to choose how they wish to recover their funds. They can either opt for the bankruptcy process in the United States or participate in the liquidation proceedings in the Bahamas. This flexibility is crucial for the millions of FTX Group customers across 230 jurisdictions worldwide.…

Coinbase Derivatives Exchange, a licensed futures exchange under the purview of the U.S. Commodity Futures Trading Commission, has made an exciting announcement regarding the availability of its cryptocurrency futures products. These products are now accessible via the Trading Technologies International, Inc. (TT) platform. This integration is a significant development for TT’s customer base, which includes institutional and professional traders. It opens up direct access to regulated cryptocurrency futures trading directly from the TT platform. Randy Myers, the Head of Crypto at Trading Technologies, expressed enthusiasm about this collaboration, highlighting the valuable tools offered to traders, such as Autospreader, ADL, and…

Changer.ae Ltd, a prominent crypto custodian service, has officially introduced its cutting-edge platform, offering individuals worldwide a comprehensive solution for effectively managing their digital assets. The platform, which operates under the vigilant regulation of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), signifies a significant stride towards establishing a reliable and consistent crypto custodian service. Changer.ae operates within the meticulous regulatory framework set forth by the FSRA of ADGM, ensuring unwavering adherence to rules and regulations governing safe custody provisions, technology governance, and various system controls. The United Arab Emirates (UAE) has emerged as a trailblazer…

A US court took decisive action on Monday by issuing an order against Binance and its former CEO, Changpeng Zhao, in response to charges filed by the Commodity Futures Trading Commission (CFTC). The court approved the substantial settlement, formalizing an agreement initially announced on November 21. The CFTC stated, “In formalizing the settlement initially announced on November 21, the court finds Zhao and Binance violated the Commodity Exchange Act (CEA) and CFTC regulations.” Under the terms of the settlement, Zhao is now obligated to pay a civil monetary penalty of $150 million. Additionally, three entities connected to him, namely Binance…

Revolut, the popular fintech firm, has announced a temporary suspension of certain cryptocurrency services for its business customers in the UK. This decision is in response to upcoming regulatory changes set forth by the Financial Conduct Authority (FCA), as reported by City A.M. Starting on January 3, 2024, Revolut Business users will no longer have the ability to purchase cryptocurrencies through their accounts, aligning with the FCA’s new guidelines on crypto assets. The impending regulations by the FCA are primarily designed to safeguard investors in the volatile digital asset space. A key provision within these rules is the implementation of…

NAGA Group AG, a prominent player in the financial technology sector, has revealed an exciting merger arrangement with Capex.com, a versatile online trading platform handling various asset classes. Under this agreement, Octavian Patrascu, Capex.com’s Founder and CEO, will ascend to the position of CEO within the publicly-listed NAGA. This strategic merger will involve Capex.com reverse merging into NAGA Group AG through a non-cash capital infusion, while Patrascu is set to inject $9 million personally into NAGA through a convertible bond. The primary goal of this move is to forge a thriving fintech entity by amalgamating the user bases and core…

eToro, the renowned global social investing network, has unveiled an expansive addition to its United States offering, introducing nearly 700 new US stocks to its platform this week. This move significantly bolsters the eToro platform, now boasting a vast array of 4,790 assets. This development marks a significant step forward for eToro, as it expands its stock offerings, presenting users with a broader spectrum of investment choices to diversify their portfolios. Expressing their enthusiasm, eToro stated, “We are thrilled to introduce this substantial expansion to all our users.” Among these new additions, eToro has introduced a diverse range of stocks,…