Fazzaco Weekly Digest: ASIC Cancels AFS Licence of Pure Strategy Pty Ltd;TrustPay Announces Partnership with Polish Tpay

Take a look at the latest happenings in this week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from this past week.

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1. ASIC Cancels AFS Licence of Pure Strategy Pty Ltd​

The Australian Securities and Investments Commission (ASIC) today announced that it has cancelled the Australian financial services (AFS) licence of Pure Strategy Pty Ltd (Pure Strategy), effective 16 September 2021. This was due to Pure Strategy's failure to comply with its general obligations.

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ASIC found that Pure Strategy failed to have adequate resources to carry out a financial services business, failed to maintain competence to provide the financial services under its licence, and failed to ensure its representatives complied with financial services laws. Pure Strategy also failed to comply with its licence condition to have a 'key person'.

2. TrustPay Announces New Partnership with Polish Tpay​

The online payment solutions provider Trustpay announced today a new partnership with Poland-based payment company Tpay, so as to further extend its footprints into the Polish market.

“Thanks to Tpay, our clients will soon have a unique opportunity to accept payments from Polish clients via online bank transfers covering all major Polish banks and gain access to one of the most popular payment methods in Poland - BLIK,” said TrustPay.

3. China Blocks Access to CoinGecko, CoinMarketCap and TradingView​

Fazzaco learned that China has taken its latest action against three crypto industry data venues, including CoinGecko, CoinMarketCap and TradingView, following the country’s intensified crackdown on crypto mining and trading last Friday.

Reportedly, an online tool for checking sites censored by China's Great Firewall has unveiled that the three sites have been totally unavailable for users in this region as of press time. The exact blockage time is not clear, but users started to be aware of this on Tuesday.

4. FINMA Grants Custodian License to SEBA Bank​

SEBA Bank, a new innovative bank aiming at providing seamless integration bridge between digital and traditional assets, announced that it has been granted the CISA licence to act as a custodian bank for Swiss collective investment schemes.

According to the press release, this is the first licence granted in Switzerland by the Swiss Financial Market Authority (FINMA) to a custodian bank focused on digital assets.

5. EBO Names Alexandros Patsalides as Director of Its Financial Services Division​

EBO, a virtual agent provider that helps companies build valuable, long-lasting relationships with their customers using Artificial Intelligence, has appointed Alexandros Patsalides as Director of its Financial Services Division.

Patsalides has extensive managerial and commercial experience within the IT industry. In his new position, he will lead a division that comprises the firm’s banking, forex, payment providers and insurances fronts.

6. Pepperstone Appoints Alex Kolpokchi as Head of Middle East​

Fazzaco learned that Pepperstone,  a multi-regulated forex and CFDs broker, has appointed Alexander Kolpokchi as head of Middle East.

As seen on his LinkedIn profile, Alex joined Pepperstone as Business Development Manager in September 2018. He was promoted to Interim Head of Middle East in May 2021. Pior to Pepperstone, he served as Business Development Manager at IG.