Fazzaco Weekly Digest: TrueLayer Hires Clement Boulais;Exness Reports Record Trading Volume in July 2021

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. TrueLayer Hires Clement Boulais as General Manager for France​

TrueLayer, a leading technology company providing secure, global access to financial infrastructure, recently announced that it has appointed Clement Boulais as General Manager for France. The appointment comes at a time when the company continues its European expansion.

In his new role, Mr Boulais will be responsible for leading its commercial strategy in France, helping the company to connect fintechs and larger financial institutions with the 90+ per cent of French banks it offers API access to.

2. Exness Reports Record Trading Volume in July 2021

Exness, a leading global multi-asset broker, has published its financial figures for the month of July, indicating a jump in trading volume.

More specifically, the broker recorded a total trading volume of $974.5 billion, 13% higher than June’s $861.7 billion. That number shows an increase of 5% than the previous peak it achieved last March($930.6 billion).

On a year-over-year basis, the trading volume up 63.7% from July 2020's $595.2 billion.

3. Coinbase Enables Crypto Buys with Apple Pay and Google Pay​

Coinbase, a California based digital asset exchange operator, today announced that it has enabled customers to buy crypto with with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7.

Customers who already have a Visa or Mastercard debit card linked in their Apple Wallet will be able to pay with Apple Pay when buying crypto with Coinbase on iOS device or Safari web browser.

The company will soon enable crypto buys with Google Pay, a safe, simple, and secure way to pay that’s used by more than 150 million people in 40 countries every month.

4. CySEC Suspends CIF License of Libertex's Operator, Indication Investments

The Cyprus Securities and Exchange Commission(CySEC) yesterday announced that it has partially suspended the CIF (Cyprus Investment Firm) license of Indication Investments Ltd, the operator of the FX and CFDs broker Libertex.com (CIF no. 164/12).

According to the cypriot regulator, the decision was made pursuant to section 10(1) of Directive DI87-05 for The Withdrawal and Suspension of Authorisation ('DI87-05').

5. Saxo Bank Sees 9% MoM Rise in Trading Volumes in July 2021​

Fazzaco learned that Saxo Bank, one of the largest online investment banks in Europe, has posted its client trading volumes for the month of July, showing a healthy increase in trading activity across most asset groups.

Saxo's total trading volumes came in at $309.5 billion in July, which is up 9 percent compared to the previous month. Trading volumes of its equities business stood at $155.4 billion, which is up 22.7 percent MoM. Core FX trading volumes were at $111.9 billion, up 5 percent MoM.

6. BDSwiss Issues Response to FCA’s Ban

Fazzaco has reported FCA's ban against BDSwiss, a multi-regulated FX and CFDs broker, which is banned from offering CFDs to its UK customers. Today, Fazzaco learned from the broker that an official announcement has been issued as a response to the watchdog's ban, which is posted in full as follows:

In light of the latest FCA announcement and its decision to suspend BDSwiss Group services in the UK, we would like to confirm that BDSwiss Group has been in close communication with the FCA over the past weeks. While we were not given any notice and were not made aware of specific client complaints filed with the FCA —  which would have allowed us to proceed in rectifying the matter prior to this decision —  we respect the FCA's decision and have worked diligently to comply with its requirements.

7. Alexandros Kritiotis Ends His Tenure at Blackwell Global as COO​

Fazzaco learned that Alexandros Kritiotis has decided to part ways with Blackwell Global, a retail FX and CFDs broker, where he has been with for over 6 years.

As detailed on his LinkedIn, Alexandros joined the parent company Blackwell Global as Analyst for  Risk Management Department based in Cyprus in October 2012. Then in January 2016, he started to serve as Executive Director & COO/CRO of Blackwell Global Investments (UK), which is a FCA-regulated forex brokerage.