EBC Opens New Office, Regulatory Update; Rebranding; CLS Feb FX Trade Volume Report; FX Brokers vs. Payment...More News Recap from Last Week

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition to the news, we've also published the February 2025 FX trade volume report by CLS, as well as the insights shared by CoiniGo, a leading payment provider, regarding payment in FX community. Below are news and articles for the Fazzaco's last week recap.

EBC Plants Our Flag in Sydney: A Strategic Step in Global Asset Management

Sydney's iconic skyline welcomes a new presence with EBC Asset Management opening our doors in the heart of Australia's financial capital. Overlooking the Sydney Harbour Bridge and Opera House, our office stands as a reflection of our ambition and forward-thinking vision, strengthening our commitment to the Asia-Pacific region and our expanding global presence.

Crypto Exchange Bitin Ordered to Shut Down in Israel

The Israeli financial regulatory authority has mandated the immediate shutdown of cryptocurrency exchange Bitin due to its operation without a valid license in the country. In addition to the closure order, the platform's operator is facing a financial penalty of approximately 1.7 million shekels (around US$460,000).

The directive against Bitin was issued by Amit Gal, the Commissioner of Capital Markets, Insurance, and Savings. While the Bitin website remains accessible, it has been reported that the platform's cryptocurrency buying and selling services are no longer functional.

Another Prop Firm Integrates MT5 with New Broker Offering

Wall Street Funded, a proprietary trading firm emphasizing trader support and advanced tools, announced the launch of its own broker on the MetaTrader 5 (MT5) platform. This integration signifies a significant step for the firm, enabling it to offer its services through the widely recognized and feature-rich MT5 environment.

Gate Technology Rebrands to Gate.io to Expand European Footprint

Gate Technology Ltd, formerly known as Gate.MT, has officially announced its rebranding to Gate.io. The company stated that this name change reflects its strategic focus on strengthening its presence across Europe and aligning its operations with the globally recognized Gate.io brand.

CLS's FX Trade Volume Report - February 2025

The analytics team at CLS Group has reviewed foreign exchange (FX) trading activity for February 2025, comparing the month against prior periods and analyzing daily and hourly trading patterns within the month. This resulted in the February 2025 FX Market Trading Report, which covers data from the FX spot, swap, and outright forward markets.

Forex Brokers vs. Payments: The Hidden Battle No One Talks About​

The forex industry is a highly competitive space, marked by razor-thin margins and an ever-growing demand for seamless global operations. But behind the trading terminals and technical charts lies a challenge that often goes unspoken: payments.

Traditional payment systems - like SWIFT, wire transfers, and outdated banking rails are plagued with slow processing, high fees, chargebacks, and regional limitations. Brokers serving international clients often face compliance hurdles, unpredictable currency conversion costs, and settlement delays that stretch for days.

This isn't just an operational inconvenience, it's lost revenue, missed trades, and reputational damage.