B2Broker is a global liquidity provider that combines numerous B2B services under its umbrella, including CRM systems, payment processing solutions, and advanced trading software solutions. Founded in 2014, B2Broker has constantly iterated on its strong foundation, adding new features and improvements to its liquidity and white-label offerings. B2Broker’s expansive ecosystem includes B2BinPay, B2Core, B2Prime, B2Copy, […]
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B2Broker Introduces B2Trader – An Innovative Crypto Spot Brokerage Platform
With Bitcoin reaching record highs and the overall market capitalisation of cryptocurrencies surpassing .37T, the cryptocurrency market is seeing remarkable development. This is in line with the June 30, 2024, implementation of the MiCA rule, which will be followed by another wave on December 30, 2024, with the goal of promoting broader use of cryptocurrencies […]
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How to Start Your Own Brokerage or Exchange – B2Broker CEO Arthur Azizov and CDO John Murillo
B2Broker is a premier provider of liquidity solutions, white-label platforms, CRM systems and advanced trading mechanisms. Founded in 2014, B2Broker has consistently added new features and tools to its expansive liquidity and white-label offerings. With the contribution of B2Broker’s sibling companies – B2BinPay, B2Core and B2Trader, the group delivers a comprehensive suite of B2B brokerage […]
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Nexo Secures Preliminary VARA Approval to Launch Crypto Lending and Brokerage Services in Dubai
On Tuesday, Nexo announced its Dubai entity, Nexo DWTC, had secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to engage in virtual asset lending, borrowing, and broker-dealer activities within the UAE’s most populous city. Nexo Gains Initial VARA Approval for Dubai Crypto Operations The crypto lender Nexo received a provisional “Initial Approval [IA]” […]
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Coinbase Becomes the Latest Target of SEC: Accused of Unregistered Brokerage and Securities Violations
After the U.S. Securities and Exchange Commission (SEC) sued Binance, it has now filed a legal case against the San Francisco-based exchange, Coinbase. The SEC alleges that Coinbase breached multiple securities regulations and has been functioning as an unregistered broker since 2019.
SEC Alleges Coinbase Operated an Unregistered Brokerage and Committed Multiple Securities Offenses
The SEC is clamping down on another digital currency platform, this time targeting Coinbase for purportedly operating as an unregistered broker and infringing upon various securities laws. While Coinbase has examined specific crypto assets for compliance with the Howey test, the SEC claims that the company has listed several cryptocurrencies that fail the test or classify as investment contracts.
Regarding the classification of individual assets as securities, the regulatory body contends that coins like ICP, AXS, CHZ, FLOW, DASH, VGX, FIL, NEXO, NEAR, ADA, SAND, SOL, and MATIC meet the criteria of being investment contracts. “We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” stated SEC chair Gary Gensler. He added:
Furthermore, as we allege, Coinbase failed to register its staking-as-a-service program as required by securities laws; again depriving investors of crucial disclosure and other protections.
The SEC’s issue with Coinbase’s staking platform claims that the firm never filed sufficient documentation with regulators to offer such services. As a result of this omission, Coinbase is charged with withholding significant information about the program from investors while infringing on the registration provisions of the Securities Act of 1933. Following the news, crypto markets in general have taken a dip, with values decreasing by 4.4% over the last 24 hours, which presently settles the global market cap at approximately .13 trillion.
Coinbase’s stock has plummeted nearly 16% since this development and fell to .71 per share during pre-market trading sessions. Nevertheless, shares have increased 1.04% over the past month and 38.42% over the past six months. Echoing the Binance allegations, the SEC emphasized that Coinbase operated multiple entities without proper registration and listed crypto assets that the regulator identifies as securities.
What are your thoughts on the SEC’s legal actions against Coinbase? Share your thoughts and opinions about this subject in the comments section below.
Brazillian Brokerage Firm Introduces Trading For Crypto Assets Amid Bear Market
With the gradual crypto market recovery, many players are regaining their confidence in the sector. As a result, more and more support for crypto and its products is already resuming after the terrible crypto winter. For instance, another brokerage giant in Brazil has just launched support for BTC and ETH trading on its platform.
The brokerage firm XP Inc. already boasts 3.6 million users. Adding a platform where anyone can trade crypto named XTAGE is already exposing these users to the digital space. This is, of course, a way forward for the industry.
XP Inc. is simply the newest firm to add support for crypto trading. Before now, Nubank and MercadoLibre have already done it.
Related Reading: Shiba Inu Trends Upwards Through Strong Whale Accumulations
Nubank is the leading bank for digital assets in Brazil and Latin America. In addition, the bank partnered with Paxos in 2021 to enable customers’ access to digital currency directly from its platform.
They could buy, store or sell their crypto without issues. MercadoPago also did the same for their Brazillian clients when they allowed them to buy, hold or sell BTC, ETH, and USDP in 2021.
XTAGE Crypto Trading Platform
The crypto community in Brazil received this news on August 15 through the Twitter account of Nasdaq Exchange.
.@xpinvestimentos joins us for the Opening Bell to celebrate the XTAGE digital assets trading platform.
Leveraging @NasdaqExchange’s technology, XTAGE represents a key milestone in democratizing access to the digital assets market in Brazil. pic.twitter.com/DS3RXtWVpb
— Nasdaq Exchange (@NasdaqExchange) August 15, 2022
The message was calling all followers to celebrate with the company for the recent launch of XTAGE. Interestingly, the new platform will leverage Nasdaq Exchange technology to facilitate operations.
Also, XP Inc. aims to use the medium to allow easy access to crypto for Brazilians interested in digital assets investments. Through thia, the 3.6 million users on the brokerage platform can now trade BTC or ETH as they want.
Crypto market is trending down today on the chart l Source: Total Crypto Market Cap on TradingView.com
Even though the firm started with these top two cryptos in the market, they had already disclosed to a reliable source in May that they would add more digital assets. Also, XTAGE will host crypto-based investment products with time.
Notably, XTAGE is not only the brainchild of XP Inc. In fact, the firm partnered with BitGo and Nasdaq to make a dream come true. BitGo is a crypto custody firm, while Nasdaq is the famous American stock exchange.
All these top shots contributed to launching the platform. Now, XTAGE is integrated into the XP network, giving users access to crypto via their XP apps. But according to the financial product director of XP, the XP users who can access the XTAGE platform now are those with good investment profiles. Lucas Rabechini disclosed this in July.
Also, given that XTAGE is built on Nasdaq tech, it is integrated with MetaTrader 5, a stock and forex tool. As for BitGo’s contribution, it will be the custodian for the platform to store XTAGE assets in cold wallets outside the internet for maximum security.
Featured image from Pixabay, Chart from TradingView.com
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The First Online Crypto Brokerage SimpleFX, Leader Then, Leader Now
SimpleFX is one of the leading trading applications that has been around since 2014. The platform holds the distinction for being the first of the online brokers to offer cryptocurrency trading accounts.
Simple and Flexible Trading Interface
Designed to be an easy-to-use platform with a simple and intuitive user interface, SimpleFX is a mobile-first multi-device trading platform that can be accessed over any connected device. The trading platform is available as a native app on Android, iOS and more recently Huawei HarmonyOS ecosystems. In addition, users can also choose to use the highly responsive SimpleFX WebTrader on browsers or MetaTrader4 desktop software on Windows and MacOS powered machines.
Irrespective of the device and application type, SimpleFX users will have access to all the advanced trading and analytical tools, latest market data and customizable trading interface to offer an unmatched trading experience. Further, the platform offers its users the convenience of trading on the same account and any device at any time from anywhere, ensuring that the market always remains at their fingertips no matter where they are.
Meanwhile, the SimpleFX team ensures that the users on the platform always have access to the latest tools and features by constantly improving their offerings.
Simple Sign Up on SimpleFX
Getting started on SimpleFX is a lot easier than one would imagine. All a new user will need is an email address to sign up for Bitcoin, Ethereum and Binance Coin accounts on the platform. Once signed up, they can readily deposit any of the supported cryptocurrencies and start trading.
Depending on the community’s feedback and market interest, SimpleFX continues to expand its list of supported cryptocurrencies. The inclusion of Binance Coin and BUSD to SimpleFX in recent days is a good example of proactive measures taken by the platform. With these new assets in place, users can now enjoy crypto trades without worrying about high transaction costs plaguing the ETH ecosystem.
SimpleFX Gets Binance Smart Chain (BSC) Payments
With transaction fees surpassing on Ethereum protocol, SimpleFX has recently integrated BSC payments to the platform to leverage its qualities of super-fast transaction settlements at a small fraction of cost. By enabling BSC payment, SimpleFX now makes it possible for the users to send and receive 10 new ERC-20 compatible tokens at ultra-low fees. The supported tokens include DAI, DOT, XRP, BAND, XTZ, ONT, ADA, ATOM, YFII and EOS.
Now SimpleFX users can transfer any of these supported crypto assets in and out of the platform for as little as .25 and receive transaction confirmation in under a minute. Soon, the platform will be expanding BSC payment support to include BTC, ETH, LINK, LTC, BCH, ZEC and ETC.
BEP-20 | ETC-20 | |
Deposit | free | free |
USDT Withdrawal | .25 | |
Deposit confirmation time | 1 min | 15 min |
SimpleFX payments time and fees estimations for BSC and ETH Networks for May 2021
Few Notable Features of SimpleFX
- Quick, no KYC registration for cryptocurrency accounts
- Invest in Bitcoin, Ethereum, Tether, Binance Coin, and more (22 cryptocurrency accounts)
- No minimum deposits or deposit fees
- Up to 50x leverage on stocks
- Up to 500x leverage on Forex
- Reputable, with over seven years track record in the market
- Global reach, supporting over 20 fiat currencies
- Multilingual support in English, Spanish, Portuguese and more
- The most efficient cryptocurrency payments. Binance Smart Chain (BEP-20) fast transfers with super low fees (100 times lower than Ethereum ERC-20)
- Stake & Trade – earn 8.55% annual interest on your ETH 2.0 deposit. Trade with your frozen money.
Traders Come First
As a user-friendly platform, SimpleFX always puts its users’ needs first. They take users’ feedback and suggestions seriously and attempt to address them at the earliest. While the team continues to work on launching new features and assets much before their counterparts, users can always reach out to them and inquire about any stock or asset they wish to trade on the platform. If it is not available at that time, then the chances are they are already working on it, if not, the proposition will be included in the product roadmap.
ETH Staking, Instant Bonuses and Affiliate Program
SimpleFX is in the process of launching the Stake & Trade feature where users can stake any amount of ETH 2.0 to earn 8.55% annual interest. In addition to staking returns, users can continue to invest their frozen ETH and trade on the platform. The upcoming launch of Stake & Trade feature will be accompanied by a bonus program where users can earn up to 00 bonus on their first staking deposit.
In order to earn ETH 2.0 staking bonus, the first deposit should be made after 8 AM UTC on April 26, 2021. Depending on the deposit amount, users will receive a , , 0, 0 or 00 bonus which will be added to the staking amount.
The SimpleFX affiliate program is another way to make an extra buck. Users can become SimpleFX affiliates for free by using their email addresses. The affiliate program offers an opportunity to earn a lifetime revenue share of up to 30% on all transactions made by those using the referral link to join the platform.
Trading on SimpleFX never gets boring. The platform has a lot of interesting things in the pipeline, to be revealed soon. Until then continue trading and get the most out of the markets.
Join SimpleFX at – https://simplefx.com/
Coinbase Denies Report of $150M Acquisition of Tagomi Brokerage Firm
n Coinbase cryptocurrency exchange has denied reports that it acquired digital currency brokerage firm Tagomi for 0 millionn
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Brazil’s Biggest Brokerage is Officially Joining the Cryptocurrency Markets
Brazil’s largest independent brokerage is the latest example of a retail stock exchange to enter the cryptocurrency markets amidst a growing movement for stock exchanges to offer retail investors access to cryptocurrencies.
Grupo XP, the owner of XP Investmentos SA, the largest independent brokerage in Brazil, announced that they would be moving into the cryptocurrency markets by offering a platform exchange for Bitcoin and Ethereum in the coming months. Grupo XP’s CEO, Guilherme Benchimol, spoke about the launch of the new platform while at an event in Sao Paulo earlier this week.
Currently, cryptocurrency’s popularity is exploding in Brazil, with investors having five times as much exposure to Bitcoin as they do stocks. The sheer popularity of Bitcoin is what is pushing the exchange into the markets, although Benchimol isn’t excited about his exchange’s new product.
“I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market,” Benchimol said.
The new platform comes as Brazil’s government is strengthening cryptocurrency regulations by offering comprehensive frameworks outlining the tax laws surrounding the relatively new forms of currencies. Brazil’s main regulatory authority, the CVM, has released a comprehensive document that offers guidance to fund managers looking at adding cryptocurrencies to their portfolios.
The new exchange will be called XDEX and will be run by Thiago Maffra independently of the exchange’s other platforms and is the latest example of traditional retail exchanges moving into the cryptocurrency markets.
NYSE and Nasdaq Are Examples of Retail Exchange Entering Cryptocurrency Markets
In August, news broke that the New York Stock Exchange’s parent company, Intercontinental Exchange (ICE), was entering the cryptocurrency markets through a partnership with upcoming cryptocurrency exchange, Bakkt.
The upcoming exchange is anticipated to bring an unprecedented level of corporate interest in the cryptocurrency markets and has already gained corporate partners including Microsoft and Starbucks.
CNBC’s Brian Kelly has high hopes for this new exchange, saying that the Bakkt exchange news is “the biggest (crypto) news of the year.”
The goal of Bakkt is to provide the cryptocurrency markets with a “scalable on-ramp for institutional, merchant, and consumer participation.” If approved by the U.S. CFTC, the exchange will mark the first major examples of a major U.S. stock exchange entering the cryptocurrency markets through a partnership with an exchange.
Nasdaq, another major U.S.-based exchange, is also reportedly entering the cryptocurrency markets by acquiring a crypto-friendly startup based in Sweden.
Nasdaq will be acquiring the company, called Cinnober, for 0 million in cash. Although the Swedish fintech startup does not yet offer investors access to cryptocurrencies, they have been working on several analytic tools for tracking and predicting the price of cryptocurrencies, including Bitcoin and Ethereum.
The startup has also been working to provide real-time clearing technology and post-trade solutions for cryptocurrency exchanges. It is unclear whether or not Nasdaq will incorporate any of Cinnober’s solutions into their own exchange.
Featured image from Shutterstock.
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Largest Brazilian Brokerage to Launch Exchange for Bitcoin and Ethereum
n The biggest brokerage firm in Brazil, Grupo XP, has announced the launch of a crypto exchange in the coming monthsn
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