Fazzaco Weekly Digest: OANDA Taps StanChart as Its FX Prime Broker; Scope Markets Names New CEO; Bankrupt FTX Sues Voyager Digital
Take a look at the latest happenings in last week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from last week.
For years, the Caribbean island country known as Saint Vincent and the Grenadines (hereinafter referred to as SVG) has been popular with financial institutions for its low business registration requirements. Many forex brokers, too, are registered through the SVG regulator, the Financial Services Authority (SVG FSA).
2. OANDA Taps Standard Chartered as Its FX Prime Broker for Retail FX Business Internationally
OANDA, a global leader in online multi-asset trading services, currency data and analytics, reportedly appointed Standard Chartered Bank as its cash management bank for payments and collections in the U.S. and UK. Furthermore, its also mandated the bank to be foreign exchange prime broker for its retail FX business internationally.
With this mandate, OANDA will be able to manage its payments and collections processes across various geographies through streamlined cloud-based processing services by leveraging Straight2Bank, Standard Chartered's online banking platform for corporate and institutional clients.
3. Veteran FX Dealer Anthony Darvall Leaves easyMarkets to Launch a Fintech Startup
Anthony Darvall, APAC Head of FX Dealer at easyMarkets, a leading global FX and CFDs broker, has left the company to launch a web 3.0 fintech startup called Traderflow, according to his Linkedin post on Friday.
Darvall has been with easyMarkets for nearly 15 years. He joined the brokerage in May 2008 as the Chief Market Analyst for the APAC region and then took over the position of Head FX Dealer for the region in May 2016. In the later role, he worked with High Net worth clients and corporate hedging accounts, providing "professional in-depth market updates and long tem bespoke trading plans for traders and hedgers".
4. ESG Investing - A Promise to Sustainability or Just Another Label?
ESG encompasses Environmental, Social and Corporate Governance, and it pretty much equals to the sustainable development idea. In a world where people are more aware of environment friendliness and corporate social responsibilities, ESG is now trending: About 88% public companies, and two thirds of private ones have placed some kind of ESG initiatives in operation. Financial industry is no exception. Banking, insurance, securities, trust, forex and crypto, you have to be socially responsible as long as you are actively engaged in the system, for it is a critical part to drive global sustainability. ESG Investing, is how the idea manifests itself in the financial world.
5. NetShop ISP Lands Deal to Be the E-Invitation Sponsor of Fazzaco Hall of Fame Award Ceremony 2023
NetShop ISP, an award winning provider of data center services, has landed a deal with Fazzaco to become the E-Invitation Sponsor of Fazzaco Hall of Fame Award Ceremony 2023, which will take place at Crowne Plaza Limassol, Cyprus on February 23rd.
Since 2004, NetShop ISP has been working on refining the conventional web & server hosting products. The company has introduced a truly innovative set of solutions affordable enough to kickstart a startup project and scalable to meet any software, hardware and traffic volume needs. More than 45 forex brokers have selected NetShop ISP for trading platforms hosting and disaster recovery solutions in 2022 only.
6. Pavel Spirin Promoted to Chief Executive Officer at Scope Markets
Scope Markets, an institutional and retail trading services provider, has promoted Pavel Spirin, its Chief Growth Officer, to Chief Executive Officer.
Spirin has over 15 years experiences of marketing and business developing. As seen on his LinkedIn profile, Spirin joined Scope Markets in August 2021 as Chief Growth Officer, focusing on marketing and retail business development of the company. In the new role, he will lead the Group B2C (retail) division.
7. FTX Sues Voyager Digital to Claw Back $446M in Loan Repayment Made in 2022
Bankrupt crypto exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022.
FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but Voyager's bankruptcy preceded FTX's filing by four months.
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