Ripple Unveils Stablecoin as XTB Surpasses 1 Million Client Milestone

This week's Weekly Round highlights significant developments in the financial markets. In the FX Market, Capital.com expands into the MENA region, while Admirals halts new EU signups due to regulatory challenges. Refinery Markets welcomes LTP as a prime broker, and Cboe surpasses 1,000 ETF listings globally. Notable milestones include XTB reaching 1 million clients and Forex4you rebranding to Markets4you. The European ETF market sees a net positive influx, and N26 launches stock and ETF trading. In the Crypto Digest, the CFTC warns against the KuCoin lawsuit, Deribit receives a VASP license in Dubai, and Telegram shares ad revenue with users. Bitget's MOEW memecoin surges, Ripple unveils a dollar-pegged stablecoin, and the Bitcoin emoji campaign nears the required 50,000 signatures.

Ripple Debuts Stablecoin, XTB Surpasses 1 Million Client Milestone

April 6, 2024, 10:22 AM UTC

This week's Weekly Roundup delves into the pivotal developments that have shaped the financial landscape in recent days. Our comprehensive overview encompasses the latest trends and events in the Forex, Fintech, and cryptocurrency spheres, providing a panoramic view of the industry's ever-evolving dynamics.

FX Market

Capital.com Bolsters MENA Presence with UAE License

Capital.com has solidified its foothold in the Middle East and North Africa (MENA) region by securing a Category 1 license from the United Arab Emirates' Securities and Commodities Authority (SCA). This strategic move underscores the company's commitment to expanding its reach in this burgeoning market.

Admirals Suspends Client Registrations in EU Amid Regulatory Challenges

In a proactive response to regulatory scrutiny, FX brokerage firm Admirals has temporarily halted new client registrations in Europe. This decision reflects the company's unwavering commitment to adhering to the highest regulatory standards in an increasingly complex regulatory environment.

Finery Markets Welcomes LTP as Prime Broker on FM Liquidity Match

Finery Markets has announced the onboarding of LTP as the newest Liquidity Provider on its FM Liquidity Match system. This partnership enhances the platform's offerings, providing institutional clients and crypto businesses with access to a wider range of liquidity options.

Cboe Surpasses 1,000 ETF Listings Globally

Cboe Global Markets has achieved a significant milestone, surpassing the 1,000 exchange-traded funds (ETFs) listed across its global network of exchanges. This remarkable achievement reflects the growing popularity and versatility of ETFs among investors worldwide.

XTB Celebrates 1 Million Client Milestone, Transforming into "Universal Investment App"

XTB has reached an impressive milestone, surpassing 1 million clients worldwide. This remarkable growth underscores the company's transformation into a comprehensive investment platform, offering a diverse range of financial products and services beyond traditional CFD trading.

Forex4you Rebrands to Markets4you: "Forex" Losing Appeal?

Forex4you has announced a strategic rebranding to Markets4you, signaling a shift towards a broader focus beyond forex trading. This move reflects the evolving landscape of the industry, where investors seek a more diversified approach to financial markets.

Rise of ETFs in Europe: Net Positive Influx of €141 Billion in 2023

The Quantalys Harvest Group, in partnership with BNP Paribas Asset Management (BNPP AM), has published a comprehensive report on the European ETF market. The findings reveal a surge in ETF investments, with a net positive influx of €141 billion in 2023.

N26 Introduces Stock and ETF Trading

N26 has expanded its service offerings by launching a new Stocks and ETFs trading product in the German market. This move caters to the growing demand for digital investing platforms that offer a seamless and accessible experience.

Exness Adds 70K Accounts in March, Client Base Reaches 836K

FX broker Exness has witnessed a resurgence in trading activity, adding over 70,000 new accounts in March 2024. This surge signals increased market participation and growing confidence among traders.

Crypto Digest

CFTC Pham Warns KuCoin Lawsuit Undermines Investor Protection

CFTC Commissioner Caroline D. Pham has expressed concerns that the recent enforcement action against crypto exchange KuCoin could jeopardize investor protection laws. Her statement highlights the importance of regulatory clarity and robust oversight in the evolving cryptocurrency landscape.

Deribit Secures Conditional VASP License from Dubai's VARA

Deribit FZE, the Dubai-based subsidiary of leading crypto derivative options platform Deribit Group, has obtained a conditional Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA). This development marks a significant step towards legitimizing cryptocurrency trading within the emirate.

Telegram to Share Ad Revenue with Users, TON Price Doubles

Telegram, the popular messaging app, has unveiled a new incentive program, allowing owners of public channels to earn 50% of advertising revenue in Toncoin (TON). This move is expected to boost engagement and attract new users to Telegram's platform.

Bitget's MOEW Memecoin Surges 14,000% with $31M Market Cap

A meme coin launched by Bitget's crypto wallet arm has experienced an astonishing surge, soaring over 14,000% in just hours to reach a market valuation of $31 million. This remarkable performance highlights the speculative nature of the cryptocurrency market.

Ripple Complements XRP Offering with Dollar-Pegged Stablecoin

Ripple has entered the growing stablecoin market with the launch of a digital currency pegged to the U.S. dollar. This move is expected to complement the company's existing XRP offering and provide greater stability within the cryptocurrency ecosystem.

'Bitcoin Deserves an Emoji' Campaign Nears 50,000 Signature Threshold

Nexo, along with 35 prominent entities in the cryptocurrency sector, has launched a campaign to establish a Bitcoin emoji on digital keyboards worldwide. With the support of over 49,000 signatures, the petition is approaching its target goal.

BlackRock Expands AP Roster for Its Bitcoin ETF

BlackRock, the world's largest asset manager, has added four Wall Street giants to its roster of authorized participants for its iShares Bitcoin Trust ETF. This strategic move increases the accessibility of the ETF to a broader investor base.