Bancor Reacts to Hack, IronFX Integrates Cardano: Best of the Week

Catch up on last week's top stories.

IronFX integrates Cardano

Foreign exchange broker IronFX now offers ADA, the cryptocurrency of the Cardano blockchain, as a base account currency. This means that customers can open an account in which ADA is the default currency that all their transactions are settled in.

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The new setup is a result of a partnership between IronFX and EmurgoHK Group, which is the Hong Kong-based company behind Cardano. The two firms are also planning to launch a new cryptocurrency exchange together.

E-commerce company integrates cryptocurrency

Skrill, an e-commerce payments company from London, now allows cryptocurrency transactions with its digital wallet service. The wallet adds Bitcoin, Ethereum, Litecoin, and Bitcoin cash to its list of approximately 40 fiat currencies.

The upgrade is available to Skrill customers in 30 countries, with the notable exceptions of Russia and the US.

Investment firm buys Traders Group.

Axios Capital Limited, an investment management company, acquired Traders Group, a trading company based in Cyprus. Traders Group offers a range of services connected to foreign exchange, including trading software and educational courses.

Axios purchased some of the company in 2017, but now Traders Group CEO Ran Cohen has sold his entire stake. Cohen told Finance Magnates that he would be taking a break from work to spend time with his family but will continue to work with Financial Commission, a self-regulation organisation for foreign exchange companies.

Analysis: How trading companies are adjusting to cope with European law

The European Securities and Markets Authority activated new restrictions for financial companies about four months ago, rules which included a complete ban on binary options and restrictions on the credit that brokerage companies can offer to customers.

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In this analysis, we look at how these companies have tried to adjust to continue making their profits. Some have moved away, while others are reclassifying their customers, making use of a loophole to avoid the new laws entirely.

Analysis: What is the future of Coinbase?

Coinbase, the operator of the US’ most popular cryptocurrency exchange, has been very busy this year with new hires, new products, new acquisitions and a new policial interest group. There have even been rumours that Facebook is interested in buying the company.

In this analysis, we look at the moves that the $8 billion company has made this year and what they mean for the cryptocurrency world.

Exclusive interview with CEO of Markets.com

Joe Rundle took the reins of Markets.com, a foreign exchange brokerage, six months ago. The first half of this year was characterised by new regulations squeezing the FX industry.

We asked Rundle about complying with regulations, what effects these regulations will have on the industry, the expansion plans of Markets.com and what attracted him to the company in the first place.

Podcast interview with Bancor, post-hack

Earlier this month a hacker was able to get away with $23.5 million worth of various cryptocurrencies. As a response to the theft, Bancor froze the stolen money – something which the company would not have been able to do if its exchange was truly decentralised, as it claims.

In this podcast, head of growth Omri Cohen and co-founder Eyal Hertzog explain to Finance Magnates and why the integrity of the Bancor network is more important than the philosophical debate over decentralisation.

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