Brokers Escape from Europe, EOS Blames Users: Best of the Week
- Catch up on last week's top stories.
CVC Partners Asia Fund acquires OANDA
Brokerage OANDA is coming under the leadership of investment fund CVC Asia Fund IV, although OANDA CEO Vatsa Narasimha is expected to retain his role.
Terms of the deal have not been disclosed yet. Narasimha said: “I am excited by the change in ownership and the next phase of OANDA’s development.
Fintech firm adds Bitcoin Cash and XRP trading, raises $250 million
London-based mobile bank Revolut now offers Bitcoin Cash and Ripple transactions via a partnership with Luxembourg-based cryptocurrency exchange Bitstamp.
The firm is now worth $1.7 billion and aims to increase its customer base from 2 to 100 million by 2023.
Mastercard marks unregulated brokerages and ICO projects
Mastercard has sent out an email to payment processors warning them that unregulated brokerages that offer Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, CFD and binary options trading and ICO projects as "high-risk securities merchants."
Effective from the 12th of October 2018, six months from the date of receipt, related transactions will be categorized into a special group that has a card acceptor business code 6211.
Mastercard is not alone
It is very likely that VISA will follow the lead of Mastercard as it was revealed that several regulators and government agencies are taking part in its new action.
A letter to a related bank which requested additional information explains that Mastercard's move was encouraged by authorities as a result of multiple complaints received against merchants.
Exclusive look at JP Morgan's new Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term
A source from JPMorgan spoke to Finance Magnates about the bank's new blockchain-based system for working with debt.
He confirmed that the “Ethereum-style” blockchain would automatically convert fiat currency to the platform’s as-yet-unnamed native coin before being converted back into fiat.
Cypriot exodus
EU regulations for foreign exchange brokers recently got much tougher, and as a result, dozens of brokerages are looking to sell their Cypriot licenses.
Exclusive interview with AvaTrade CEO
Daire Ferguson told Finance Magnates that the firm is ready to expand through acquisitions of foreign exchange brokers as companies react to new EU regulations.
“Many companies see ESMA’s new regulation as the end of the road. We feel quite the opposite. AvaTrade sees it as an opportunity for expansion," said Ferguson.
Dubai calling
Several big foreign exchange companies have filed applications with the Dubai Financial Services Authority.
CMC Markets, LCG, and Pepperstone are amongst the firms looking to expand in the wake of heightened regulations in Europe.
EOS defends flaw
A “critical vulnerability” in the smart contract structure was found by a security audit firm, similar to a flaw which recently allowed hackers to create an unlimited amount of tokens out of thin air.
The finding was published in Medium - EOS CTO Dan Larimer responded by saying that the fault lies with the creators of the smart contracts. He claimed that there is nothing wrong with EOS itself.
CVC Partners Asia Fund acquires OANDA
Brokerage OANDA is coming under the leadership of investment fund CVC Asia Fund IV, although OANDA CEO Vatsa Narasimha is expected to retain his role.
Terms of the deal have not been disclosed yet. Narasimha said: “I am excited by the change in ownership and the next phase of OANDA’s development.
Fintech firm adds Bitcoin Cash and XRP trading, raises $250 million
London-based mobile bank Revolut now offers Bitcoin Cash and Ripple transactions via a partnership with Luxembourg-based cryptocurrency exchange Bitstamp.
The firm is now worth $1.7 billion and aims to increase its customer base from 2 to 100 million by 2023.
Mastercard marks unregulated brokerages and ICO projects
Mastercard has sent out an email to payment processors warning them that unregulated brokerages that offer Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, CFD and binary options trading and ICO projects as "high-risk securities merchants."
Effective from the 12th of October 2018, six months from the date of receipt, related transactions will be categorized into a special group that has a card acceptor business code 6211.
Mastercard is not alone
It is very likely that VISA will follow the lead of Mastercard as it was revealed that several regulators and government agencies are taking part in its new action.
A letter to a related bank which requested additional information explains that Mastercard's move was encouraged by authorities as a result of multiple complaints received against merchants.
Exclusive look at JP Morgan's new Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term
A source from JPMorgan spoke to Finance Magnates about the bank's new blockchain-based system for working with debt.
He confirmed that the “Ethereum-style” blockchain would automatically convert fiat currency to the platform’s as-yet-unnamed native coin before being converted back into fiat.
Cypriot exodus
EU regulations for foreign exchange brokers recently got much tougher, and as a result, dozens of brokerages are looking to sell their Cypriot licenses.
Exclusive interview with AvaTrade CEO
Daire Ferguson told Finance Magnates that the firm is ready to expand through acquisitions of foreign exchange brokers as companies react to new EU regulations.
“Many companies see ESMA’s new regulation as the end of the road. We feel quite the opposite. AvaTrade sees it as an opportunity for expansion," said Ferguson.
Dubai calling
Several big foreign exchange companies have filed applications with the Dubai Financial Services Authority.
CMC Markets, LCG, and Pepperstone are amongst the firms looking to expand in the wake of heightened regulations in Europe.
EOS defends flaw
A “critical vulnerability” in the smart contract structure was found by a security audit firm, similar to a flaw which recently allowed hackers to create an unlimited amount of tokens out of thin air.
The finding was published in Medium - EOS CTO Dan Larimer responded by saying that the fault lies with the creators of the smart contracts. He claimed that there is nothing wrong with EOS itself.