With January already just a memory and February underway, we look at the top stories dominating the forex and crypto scenes this week, in our best of the week segment.
Executives on the move
It’s been a new year and a new start for several executives this week, with some high-profile appointments and changes. In a Finance Magnates exclusive, we reported that Stefanos Mitsi, the former chief executive officer of IronFX UK, resigned from his position as Director of TIOmarkets’ FCA-regulated entity, which he had held since September 2019. Stefanos will be assuming a yet-to-be-revealed role with Trade.io in Cyprus as the company plans to acquire a CYSEC license to operate in Europe.
Another executive move making the news was Edward Cooper, named as Head of Crypto for FinTech unicorn Revolut. Finance Magnates covered Cooper’s promotion, who, before his most recent elevation, was Head of Mobile at the London-based payment firm since 2015.
Tether launches Tether Gold
As Finance Magnates reported, Stablecoin issuer Tether announced the launch of Tether Gold (XAU₮), a new stablecoin pegged to physical gold.
The launch was in response to the “growing demand for a digital asset that provides exposure to the world’s most enduring asset and a geopolitical need for an alternative financial system.”
Tether claimed that the new gold-backed stablecoin is the only gold-backed stablecoin that “offers zero custody fees and has direct control over the physical gold storage.”
AvaTrade offers risk-free trades with AvaProtect
In another Finance Magnates exclusive, we revealed that leading FX and CFD broker AvaTrade launched ‘AvaProtect,’ a new risk management tool that allows clients to obtain ‘protection’ against losing deals and have their original investment refunded.
Available on the AvaTradeGO app, the AvaProtect feature is the latest in a long line of innovations from the Dublin-headquartered broker.
The rush for gold-backed stablecoins
In a comprehensive analysis, Finance Magnates attempted to answer the question – What’s Driving the Rush for Gold-Backed Stablecoins?
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Discussing the topic with us was several high-profile crypto industry leaders, including Steve Ehrlich, CEO and co-founder of crypto trading platform Voyager, Rob Odell, Vice President of product at SALT Lending, and Andreas Ruf, Chief Executive Officer of InfiniGold.
No stone was left unturned as Finance Magnates delved deep into the world of gold-backed Stablecoins, and why exactly they have become so popular, so fast.
TigerWit CEO reveals plans for 2020
In a fascinating and revealing interview with Finance Magnates, TigerWit CEO Tim Hughes discussed the significant events of 2019 for the global forex broker and fintech firm while speaking candidly about the expansion plans for the year ahead.
From securing a Financial Services license from Hong Kong’s Securities and Futures Commission (SFC), to discussing exciting new products being rolled out in 2020, Tim’s interview offered some intriguing insights into the year ahead for TigerWit and global FX markets.
Indian crypto scene under the spotlight
Continuing our coverage of the key crypto case being heard in India’s supreme court, Finance Magnates analyzed in detail the precarious situation India’s crypto scene finds itself in.
In a country of 1.3 billion people with a crypto industry worth an estimated $80 billion, we sought the opinions of some of India’s leading figures on the health of India’s crypto scene, including Sumit Gupta, Chief Executive Officer and co-founder of CoinDCX and Nischal Shetty, Chief Executive of WazirX.
In a must-read analysis, the future of India’s crypto scene is fully discussed and dissected. Will India be crypto’s promised land? Find out here.