News Nuggets | 12 September: Tickmill Offers Social Trading; Beware the MetaMask Clone

Tickmill Unveils Social Trading Platform

Tickmill has launched Tickmill Social Trading, a new platform designed to connect traders and introducing brokers (IBs Introducing Brokers (IBs) An introducing broker (IBs) represents an entity that is facilitating the relationship between the clients and the broker or futures commission merchants (FCMs). Introducing brokers are generally seeking to provide an added value to the relationship between the parties by offering support or specific services. These may or may not be a subsidiary of the broker.Introducing brokers do not hold client money, execute orders or provide any trade-related services to the clients. In developed markets s An introducing broker (IBs) represents an entity that is facilitating the relationship between the clients and the broker or futures commission merchants (FCMs). Introducing brokers are generally seeking to provide an added value to the relationship between the parties by offering support or specific services. These may or may not be a subsidiary of the broker.Introducing brokers do not hold client money, execute orders or provide any trade-related services to the clients. In developed markets s Read this Term) for mutual benefits. The platform enables traders to share their strategies, which are then ranked and displayed on the website. Followers can automatically copy these strategies without any manual intervention.

To incentivize participation, Tickmill offers up to $30 for every follower who copies a trader for 30 days, capped at 100 followers.

"We are thrilled to launch this new project that we have been developing for a while now to empower our traders' experience. Tickmill Social Trading aims to bring closer together Tickmill traders in a mutually beneficial way, offering them an opportunity to optimise their trading journey and foster a community of traders of different experience levels that can learn from each other," Sudhanshu Agarwal, the Executive Director of Tickmill Ltd., commented.

BaFin Investigates Identity Abuse by Metamask EU

Germany's financial regulator, BaFin, has warned about Metamask EU, a company suspected of offering financial services without proper authorization. The company allegedly misuses the identity of the New York-based ConsenSys Software Inc., which operates the MetaMask brand.

BaFin advises consumers to exercise caution when investing online and to consult its company database to verify the legitimacy of financial service providers.

Coinbase Prime Introduces Web3 Wallet

Coinbase Prime has launched an institutional-grade Web3 Wallet, providing clients with a secure way to interact with various blockchain networks. The wallet allows users to store tokens, access decentralized finance (DeFi), and manage NFT collections. It also offers multi-user access and leverages Multi-Party Computation (MPC) technology for enhanced security.

The wallet aims to provide a comprehensive solution for institutional and enterprise clients, allowing them to interact directly with decentralized applications (DApps) and smart contracts. It marks another step in Coinbase Prime's commitment to offer cutting-edge capabilities while prioritizing security and utility.

Adyen Achieves Network Tokenization Milestone

Adyen, a global fintech platform, has issued over two billion active network tokens, highlighting the growing importance of this technology in enhancing payment security and authorization rates. Network tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term converts regular card numbers into secure tokens, thereby reducing the risk of fraud.

The technology has led to an average uplift of 3% in authorization rates, translating to significant revenue increases for businesses. Adyen's research indicates that nearly 39% of businesses have seen an increase in fraud attempts over the past year, making network tokenization a critical tool for secure and seamless online payments.

PandaTS Launches SimpleX

Panda Trading Systems (PandaTS) has introduced SimpleX, a new trading platform aimed at simplifying the trading experience for both beginners and seasoned traders. The platform addresses the challenges newcomers face in the complex world of CFD trading, which often results in high churn rates.

SimpleX simplifies intricate trading aspects while maintaining the depth and sophistication experienced traders expect. The platform is designed to engage users and guide them through the complexities of trading, offering a more accessible entry point into the financial markets.

Everton Football Club Nears Sale to 777 Partners

Everton Football Club is reportedly close to being acquired by 777 Partners LLC. The club owner Farhad Moshiri, who has invested heavily in the team, is expected to exit with a fraction of his initial investment. The deal, if finalized, will increase the number of American-owned Premier League teams to 10 out of 20.

The acquisition is in the late stages of negotiation and could be announced as early as Tuesday. Moshiri's legacy includes a partly-complete, state-of-the-art stadium in Liverpool's Bramley-Moore Dock area.

Zodia Custody Expands to Singapore

Zodia Custody, a subsidiary of Standard Chartered, has launched in Singapore, marking its first expansion into the country. The company aims to provide digital asset custody services for financial institutions in Singapore, a market showing rapid growth in digital assets.

Zodia is part-owned by SBI Digital Asset Holdings, and the launch signifies increasing interest from large financial institutions in the digital currency space. The move is seen as a significant step in Singapore's growing maturity in crypto regulation and the development of central bank digital currencies.

Alpha Group Acquires Majority Stake in Cobase

Alpha Group International has announced a conditional agreement to acquire approximately 85% of Cobase, a leading multibank connectivity platform. The deal is pending approval by the Dutch Central Bank and involves an initial cash consideration of €9.4 million.

Cobase provides a single interface for corporates to manage their multiple banking relationships, accounts, and transactions, thereby increasing operational and financial efficiencies. The acquisition aims to further streamline payment, cash management, and treasury functions for businesses dealing with multiple banks.