May 23, 2023

Tuesday, 23/05/2023 | 09:00 GMT Read today's FX/CFDs, crypto and fintech sectors' dynamic news. 0 Webull Launches Smart Advisor Commission-free trading platform, Webull announced the launch of Smart Advisor, which leverages artificial intelligence to suggest a portfolio based on a user's responses to a risk assessment. The platform also launched an updated version of its existing platform, Webull 9.0. Smart Advisor, an in-house algorithm, will collect basic profile information, like the investor's goals, risk tolerance, and time horizon, to suggest the investment portfolio. The platform highlighted that the investments through Smart Advisor will not be locked, and investors will always have access to the funds. Though the new platform is free to all Webull users until June end, it will charge an annualized fee of 20bps of assets under management (AUM). "This milestone anniversary, the launch of Webull 9.0 and Smart Advisor, is not only a time for reflection on the company's accomplishments but also demonstrates that we are at the forefront of the future of retail investing," said Anthony Denier, CEO of Webull. Keep Reading "Through FXPesa's education programs, we want to equip Ugandans to make informed financial and economic decisions that improve their income levels and drive economic growth," said Moonika Jurgenfeldt, Commercial Director for Equiti Group in Africa. "We plan to use our new FXPesa Academy in Kampala as an entry point into Uganda. We want to build on its success and expand to other locations in this great country to provide more Ugandans with the same opportunity." From left to right - Samwel Kiraka, CEO of EGM Securities / FXPesa, Norbert Kiiza – Education Lead for FXPesa Academy in Uganda, Norbert Mashauri, Senior Business Development Manager for FXPesa in Uganda, James Wesonga – Business Development Manager (wearing a cap) and Ms Moonika Jurgenfelt – Commercial Director for Equiti in Africa Crossover Markets Partners with Hidden Road ADVERTISEMENT Crossover Markets has partnered with prime brokerage Hidden Road to enable cryptocurrency trading to the latter's customers. Hidden Road clients will have access to CROSSx, Crossover's execution-only crypto electronic communication network (ECN) for spot crypto trading. The announcement also highlighted that Hidden Road is the first partner onboarded with CROSSx, which launched in March . Brandon Mulvihill, CEO at Crossover Markets "In the non-fungible world of cryptocurrency platforms, Hidden Road has widened trading capacity for institutions by bringing to market fungibility," said Brandon Mulvihill, Co-Founder and CEO of Crossover, "We believe this significant removal of operational friction from the ecosystem will materially increase trading volumes and decrease the costs of trading." Visa Opens Poland Hub Payments giant Visa announced Tuesday its plans to open a new global Technology and Product Hub in Poland, the company's first in Central and Eastern Europe. The Poland hub will house 1,500 new tech and product hires over the next few years. "Poland's highly skilled workforce and vibrant IT sector make it an ideal location for us to recruit and collaborate with partners and businesses to develop new payment solutions," said Rajat Taneja, President, Technology at Visa. "The next wave of our product and innovation roadmap is even more exciting as we focus on the next generation of AI, cybersecurity, and the resilience and availability of our network for all who depend on it." ASIC Cancels Dormant Firm's License The Australian financial services regulator, ASIC , announced the cancellation of the license of Centurion Custodian Funds Management, which already became effective on 18 January. The cancellation came as the company did not provide financial services under the license since it was issued in May 2005. However, Centurion appealed against ASIC's decision, and the Administrative Appeals Tribunal will review it next month. "Under the Corporations Act, ASIC may cancel an AFSL license held by a body corporate without a hearing if the body does not provide financial services covered by the license before the end of six months after the license was granted," ASIC's announcement stated. Hong Kong Concludes Consultation on Crypto Rules On Tuesday, Hong Kong' s Securities and Futures Commission (SFC) announced the conclusion of its consultation around the proposed cryptocurrency regulations. The regulator received 152 written feedback from industry participants and professionals on the proposed regulations. While most respondents welcomed the proposals, some sought further clarification. The new regulations and guidelines will come into effect on 1 June 2023. "Hong Kong's comprehensive virtual assets regulatory framework follows the principle of 'same business, same risks, same rules' and aims to provide robust investor protection and manage key risks. This will enable the industry to develop sustainably and support innovation," said Julia Leung, the SFC's CEO. Webull Launches Smart Advisor Commission-free trading platform, Webull announced the launch of Smart Advisor, which leverages artificial intelligence to suggest a portfolio based on a user's responses to a risk assessment. The platform also launched an updated version of its existing platform, Webull 9.0. Smart Advisor, an in-house algorithm, will collect basic profile information, like the investor's goals, risk tolerance, and time horizon, to suggest the investment portfolio. The platform highlighted that the investments through Smart Advisor will not be locked, and investors will always have access to the funds. Though the new platform is free to all Webull users until June end, it will charge an annualized fee of 20bps of assets under management (AUM). "This milestone anniversary, the launch of Webull 9.0 and Smart Advisor, is not only a time for reflection on the company's accomplishments but also demonstrates that we are at the forefront of the future of retail investing," said Anthony Denier, CEO of Webull. Keep Reading