Updates of IFX Payments, ASIC, Blue Guardian and Kasei; CLS Report; MENA Crypto Landscape...News Recap from Last Week

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. The below is the selected highlights of last week.

IFX Payments Reaches Agreement to Acquire Argentex Group

IFX Payments has announced that it has reached an agreement in principle to acquire Argentex Group PLC. The proposed transaction would bring together two companies operating within the UK payments and foreign exchange (FX) markets.

Argentex is a publicly listed company authorized as an electronic money institution. It specializes in offering foreign exchange services and serves a client base that includes institutions, corporates, and high-net-worth individuals.

ASIC Cancels Viridian Equity Group Licence Following CSLR Compensation Payments

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence held by Viridian Equity Group Pty Ltd. This action follows the payment of compensation to clients by the Compensation Scheme of Last Resort (CSLR).

According to information provided, on October 31, 2024, the Australian Financial Complaints Authority (AFCA) issued three determinations against Viridian Equity. Viridian Equity subsequently failed to make payments on these determinations. Consequently, on March 11, 2025, the CSLR disbursed three payments totaling $450,000 to cover these AFCA determinations and notified ASIC.

Blue Guardian Relaunches MetaTrader 5 with Proprietary Infrastructure

Blue Guardian has announced the official relaunch of the MetaTrader 5 (MT5) platform, which is now powered entirely by the firm's own license and server infrastructure. The company described this action as a milestone in its effort to provide traders with a faster, smoother, and more reliable trading experience.

Kasei Digital Assets Board Recommends Winding Up Company Due to Public Status Costs

The Board of Kasei Digital Assets PLC today announced the completion of its strategic review and has concluded that the costs associated with the company's status as a public quoted entity represent a significant burden for shareholders.

Following consideration of the review, the Board determined that the expenses involved in being a publicly quoted company are substantial. These costs were noted to include maintaining the Company's presence on the Aquis Stock Exchange, associated fees for advisers and auditors, and the AIFMD regulatory costs involved in managing funds on behalf of investors, which require either engaging external third parties or investing significant resources internally.

CLS's FX Trade Volume Report - March 2025

The analytics team at CLS Group has reviewed foreign exchange (FX) trading activity for March 2025, comparing the month against prior periods and analyzing daily and hourly trading patterns within the month. This resulted in the March 2025 FX Market Trading Report, which covers data from the FX spot, swap, and outright forward markets.

The Middle East's Crypto Landscape: UAE Charges Ahead, Kuwait Stands Cautious?​

At the recently concluded FastBull Summit in Dubai (April 16–17), cryptocurrency trading was undeniably the star topic. Over the course of just two days, the summit hosted two roundtable discussions and one keynote speech focused solely on digital assets. This intense spotlight clearly reflects a profound shift in the Middle East's stance toward digital assets. Not long ago, the region's general attitude toward blockchain and cryptocurrencies was marked by caution, if not outright skepticism. Yet the winds are changing. Some nations are now boldly embracing this new frontier, and leading the pack by far is the United Arab Emirates (UAE), rapidly emerging as the region's digital asset trailblazer.