Fazzaco Weekly Digest: Swissquote's Exec Move; CySEC Withdraws ICF Membership; Takeprofit Tech Integrates with Binance

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.

1. Swissquote Welcomes Former Professional Athlete as Junior Client Relationship Manager

Swissquote, Switzerland's leading bank in online financial services, has hired a former professional ice hockey player Daniel Vukovic as its Junior Client Relationship Manager.

Unlike other athletes taped as brand ambassadors by brokers, Daniel joined Swissquote in a totally different role.

Daniel graduated from Michigan State University, with a Bachelor's degree in Finance. Moreover, he has had internships at Voutsaras Financial, responsible for administrative management and maintenance of client portfolios, and at EFG Bank, as Junior Account Manager. All this makes him perfect to start a new stage in the financial industry.

2. CySEC Withdraws ICF Membership of Five Financial Firms

The Cyprus Securities and Exchange Commission (CySEC) announced yesterday that it has withdrawn the ICF (Investors Compensation Fund) membership of the following members:

• Deloitte Investment Services Ltd,

• Rodeler Ltd,

• Stocks Forex AF Ltd,

• Optionrally Financial Services Ltd, and

• Globia Wealth Ltd.

3. Takeprofit Tech Announces Integration with Binance

Takeprofit Tech, the fintech software developer, recently announced its official integration of its Liquidity Hub's order management system to cryptocurrency exchange Binance.

With this integration, forex brokers and their clients could access Binance's futures and spot trading via this integration. In addition, the deal will also enable the forex brokers' enrolled in the Liquidity Hub to act as market makers and trade directly on Binance, according to Takeprofit Tech.

4. Capital.com Accepts Deposit and Withdrawal via Paypal

Capital.com, a FCA-licensed CFD-focused brokerage firm, announced that it has integrated with Paypal to provide its users with easy access to deposit and withdrawal via Paypal.

The integration with payments giant Paypal is expected to further boost its userbase as generally, users love quick and easy methods for deposits and withdrawals. Capital.com already offers its users the ability to deposit and withdraw using debit and credit cards, as well as wire transfer and other payment methods like Sofort, Giropay, iDeal, ApplyPay, etc are also supported by Capital.com.

5. INX Limited and GMO Trust Partner to List GYEN and ZUSD

INX Limited (INX), the owner of blockchain-based platforms for trading digital securities and cryptocurrencies, announced its partnership with GMO-Z.com Trust Company, Inc. (GMO Trust) to list stablecoin GYEN and ZUSD through its subsidiary, INX Digital, Inc. (INXD).

6. Gain Capital UK Sees Significant Jump in Net Profit in 2020

Gain Capital UK Limited, a subsidiary of StoneX Group, has published its annual report and financial statements for the year ended December 31, 2020. The company saw a substantial jump in net profit as the number touched £32.5 million in 2020. In the previous year, this figure came in at a loss of £11.4 million.

According to the report, the total turnover climbed to £90 million in the 12 months from £16.4 million generated in the previous year. And the gross profit for the period reached £74.6 million, which is much higher than previous year’s £9.07 million.

7. MultiBank Offers Social Trading Services with HokoCloud As Partner​

Fazzaco learned that MultiBank Group, a FX and CFD broker headquartered in Hong Kong, is expanding its product portfolio with the introduction of social trading, through a partnership with technology provider HokoCloud.

According to the official press release, with the HokoCloud solution, clients of Multibank can now leverage HokoCloud’s copy trading platform to discover the top trading strategies of experienced traders, based on their ratings, trading history, and other indicators. With access to information in real-time, Multibank will be able to offer clients a powerful way to make informed trading decisions.