Fazzaco Weekly Digest: VC Plus Grants In-principle Approval from MAS for CMS License; Hong Kong Fintech Unicorn WeLab Seeks New Funds

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 week.

1. VC Plus Grants In-principle Approval from MAS for CMS License

Investment firm VC Plus announced that its subsidiary Custody Plus has received in-principle approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).

2. Hong Kong Fintech Unicorn WeLab Seeks New Funds​

Hong Kong-based fintech firm WeLab is considering a new round of financing with the aim to accelerate growth.

3. CLS Group Posts 3% Yearly Increase in October Average Daily Traded Volume​

CLS Group, a US-based foreign exchange settlement provider, has published its monthly metrics for October 2022, showing an yearly increase in its total average daily traded volume.

4. Huobi Global Officially Announces Its Rebrand to Huobi

On November 22, 2022, Huobi Global launched its refreshed branding strategy where, going forward, "Huobi Global" will simply be known as "Huobi". This brand upgrade unveils the company's global expansion roadmap for the first time after the acquisition by About Capital Buyout Fund last month, which will be followed by a more globalized approach to operations.

5. Matthew Kent Leaves Eurotrader for NAGA as Director Institutional Sales​

Fazzaco learned that NAGA, a leading multi-asset broker, has selected Matthew Kent, a capital market's professional with over 15-year demonstrated history of working in the financial services industry, to assume the role of its Director Institutional Sales.

6. Israel's Rapyd Prepares to Lay off over 10% of Employees

Israel's highest-valued startup Rapyd is preparing to make significant cutbacks to its workforce in Israel and abroad. Rapyd currently employs around 900 people and could lay off more than 10% of its team.

7. Featurespace Secures Funding from UK and US Governments to Develop AI Financial Crime Prevention​

​Featurespace, the world leader in machine learning fraud and financial crime prevention technology, has secured funding from UK and US governments to build a new type of artificial intelligence (AI) system to help banks and payments service providers (PSPs) detect financial crime – whilst protecting data privacy.