Gold-i Integrates Cypator Liquidity, Expands Crypto Offering for Brokers

UK-basedfintech company Gold-i and crypto liquidity provider Cypator have announced anew partnership aimed at improving cryptocurrency liquidity access for retailbrokers. The collaboration integrates Cypator's crypto liquidity pools withGold-i's MatrixNET liquidity management platform.

Gold-i and Cypator JoinForces to Boost Crypto Liquidity for Retail Brokers

Thisintegration is designed to provide retail brokers using Gold-i's MatrixNET withaccess to Cypator's cryptocurrency liquidity and execution services. Thepartnership aims to address challenges in the crypto trading market, such asliquidity depth and execution speed for retail clients.

Accordingto the companies, the integration will allow brokers to offer their clientsaccess to a wider range of cryptocurrencies. It may also lead to morecompetitive pricing and tighter spreads, though the exact impact remains to beseen as the integration rolls out.

"Thispartnership underscores our commitment to providing innovative solutions thatmeet the evolving needs of the crypto trading community, Tom Higgins, CEO ofGold-i, commented. By integrating Cypator's liquidity into our MatrixNETliquidity management platform, we are providing an even more compellingoffering for clients wishing to access the crypto markets.

Thecollaboration is expected to provide several potential benefits, includingincreased market depth, access to Cypator's network of market makers, and theability to leverage Gold-i's existing technology infrastructure.

Accordingto the announcement, the collaboration is aimed at facilitating integrationbetween the two platforms. The companies state this is intended to minimizedisruptions to clients' existing operations.

"Partneringwith Gold-i aligns perfectly with our mission to enhance trading efficiency andaccess to the cryptocurrency market," said Ayal Jedekin, CEO at Cypator."This collaboration enables us to deliver even greater value to ourclients."

Recent Developments atGold-i

FinanceMagnates reportedin April that Chris James, the Chief Technology Officer (CTO) of Gold-i, hasdeparted from the company after a six-year tenure. During his time, James wasin charge of various crucial departments including client support, operationsand onboarding, software development, and quality assurance.

Meanwhile,Gold-i, known for providing MetaTrader tools and liquidity managementsolutions, has introduced its Swap Free plug-in. This new tool in their productlineup enables brokers to offer trading accounts that do not generate interestpayments.

At the endof last year, Gold-i and Finalto forged a partnership. Through thiscollaboration, Finalto has integrated Gold-i's liquidity management platform,MatrixNET, directly into its trading and account management system,ClearVision. This integration offers Finaltos broker clients enhanced optionsfor aggregating or distributing FX and crypto liquidity.

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Hidden Road Adds Exchanges and Accepts BlackRock BUIDL Token as Collateral

Hidden Road, a global credit network for institutionstrading digital assets, announced it has added several exchanges to itsprime brokerage platform. The company also expanded the use of BlackRocksBUIDL token, accepting it as collateral across its network.

New Exchanges Join Hidden Road

In a press release today (Monday), Hidden Road stated thatit is now integrated with Coinbase International Exchange, following a tie-upwith Coinbase Exchange in 2022. Other new integrations include OKX, Deribit,Bitfinex, Bullish, AsiaNext, and SIX Digital Exchange.

Michael Higgins, Hidden Road's Global Head of Businessdevelopment, highlighted the significance of using BlackRocks BUIDL token ascollateral. He noted that with current high interest rates, institutionstrading digital assets in large volumes are unlikely to ignore theapproximately 5% virtually risk-free return from holding a BlackRock moneymarket fund token.

Higgins pointed out that any non-carry asset faceschallenges when clients can use the BUIDL token as collateral while alsoearning interest.

Hidden Road recognizes BlackRock's tokenized fund BUIDL as collateralDigital asset prime broker Hidden Road Partners has expanded its brokerage platform to support major centralized exchanges (CEX) including Coinbase, OKX, Deribit, Bitfinex, Bullish, AsiaNext and SIX digital

Broadening Platform Integration

Due to its existing partnership with the Chicago MercantileExchange (CME), Hidden Road can also cross margin and margin finance digitalasset tokens such as BUIDL on the CME, Higgins added.

In addition to the new exchanges, liquidity providers B2C2,IMC, and Laser Digital, along with software vendors Talos and TT, have alsojoined Hidden Roads platform.

Previously, a client could only post bitcoin as collateraland Hidden Road would provide margin financing to trade on the CME. But ofcourse the bitcoin didn't earn interest. Now they can still do that, but theycould also post BUIDL as collateral and we'll fund them dollars on the CME. Thedifference is that with BUIDL, they earn interest, Higgins said.

As far as weknow, we are the only clearing firm that allows customers to post digitalassets as margin to trade on the CME.

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IRS reveals final regulations for crypto broker rules

The Internal Revenue Service did not include decentralized exchanges or self-custodial wallets under its broker reporting requirements.

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B2Broker Shakes Up B2Trader with Advanced Features

B2Broker, a technology and liquidity provider, has releasedan update for its B2Trader Brokerage Platform. The new version, BBP v1.1,introduces BBP Prime functionality, enhanced reporting features, andcustomizable layouts.

Adding Prime Brokerage Capabilities

A key addition in BBP v1.1 is the BBP Prime feature. Thisenables the BBP to act as a prime brokerage platform for other B2Traderplatforms. Linked platforms can manage and top up their balances on BBP Prime,which oversees balances on associated accounts. BBP Prime monitors brokers'accounts, processes orders, and manages trades through a custom FIX gateway.

The update also enhances the platform's customizationoptions. BBP admins can now offer personalized workplace layouts, including adefault template for new traders. Admins can import, export, and save up to tencustom setups, accessible from the Settings section.

The reporting system in BBP v1.1 has been extended to helpadmins gain insights into platform activity. A new report type allows admins tolist active accounts over specific periods, aiding in the assessment ofplatform growth. Reports can be generated and customized via a new Reportbutton.

A massive update to our turnkey brokerage solution is incoming! Introducing BBP V1.1 and iOS 1.0. Weve revamped B2Trader with a new prime brokerage feature, improved reporting, and more! https://t.co/5L5LEvRyRX

Account management has been streamlined with the ability toselect accounts directly from the Trading terminal. When traders switchprofiles, widgets and settings automatically adjust to display relevantinformation for the selected account.

The terminal update includes new tabs and workspaces,allowing traders to open up to ten tabs and manage multiple trading spaces.Users can apply broker-provided layouts or create custom setups to organizetheir trades more efficiently.

iOS App with Full Trading Features

B2Broker has released the BBP iOS mobile app as part of theB2Trader turnkey package. The app integrates with the B2Core CRM solution,offering a seamless trading experience for iPhone users. The BBP iOS app v1.0includes all desktop trading functionalities.

The app allows users to switch accounts and view availableand on-hold funds in the Account Details screen. The Market screen providesreal-time charts, historical price data, and quick access to trading andaccount details. Users can place various types of orders and use advancedfilters to manage them.

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Blockchain advocacy group raises privacy concerns over IRS crypto tax form

The Chamber of Digital Commerce proposes adding a field to the form for brokers to indicate if a digital asset has a different tax rate to prevent errors and ensure accurate reporting.

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Nasdaq-listed Tiger Brokers rolls out online crypto trading to Hong Kong

The Tiger Trade app allows professional traders access to 18 different cryptocurrencies alongside stocks, futures, U.S. Treasury bonds and Bitcoin ETFs.

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US lawmakers demand SEC-FINRA records on Prometheum ETH custody

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The Most Comprehensive Bitcoin Circuit Review of 2022

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HK SFC: Two Former Brokers Sentenced to Jail Over False Trading

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Interactive Brokers Brings Crypto Trading to UK Customers

Interactive Brokers (Nasdaq: IBKR) has expanded its offerings on its platform in the United Kingdom by launching cryptocurrency trading. Investors, both individuals and institutional, onboarded under the brokerage's UK entity can now trade four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Expansion of Crypto Trading

Announced today (Wednesday), the US-headquartered broker has introduced crypto services in partnership with Paxos, similar to its services in its home country. Although offered in partnership with a third-party crypto exchange, Interactive Brokers highlighted that its users can trade cryptocurrencies along with instruments of other asset classes from the same brokerage account.

Introducing cryptocurrency trading gives UK clients enhanced flexibility to invest across markets and asset classes while also adding exposure to digital assets, said Gerald Perez, CEO of Interactive Brokers' UK entity.

Interactive Brokers is not the only broker to expanse its crypto services. Recently Robinhood also launched staking services under its crypto platfrom for its customers in Europe.

Low Fees

For the cryptocurrency trades, Interactive Brokers promises a commission between 0.12 percent and 0.18 percent of the trade value, with a minimum of $1.75 per order. It also clarified that there will not be added spreads, custody fees, or markups.

It further highlighted that cryptocurrencies are denominated in USD on its platforms. However, it will allow its UK clients to convert GBP to USD with tight spreads of up to 1/10 of a pip.

Interactive Brokers is a popular brokerage brand with a global presence. The platform first offered cryptocurrency trading in September 2021, a service it launched with its Paxos partnership. Last year, it teamed up with Zero Hash, a crypto infrastructure platform, to offer crypto trading and custody services. The Hong Kong-registered entity of Interactive Brokers also obtained a local licence in the autonomous region to offer retail crypto trading.

Apart from its offerings with third-party crypto partners, the broker is allowing its customers to take exposure to Bitcoin, investing in the Bitcoin exchange-traded funds (ETFs) approved by the US Securities and Exchange Commission.

Meanwhile, total revenue at Interactive Brokers was up 42 percent to $4.3 billion in 2023, which compares very favourably with the 5 percent rise recorded by IG in its last fiscal year, Saxos 11 percent, and Fidelitys 12 percent increase.

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Thailand Restricts Introducing Brokers to Only Promote Digital Token Services, Not Cryptos

The Securities and Exchange Commission (SEC) in Thailand has warned digital asset exchanges that their advertisements and the organisation of introducing broker agent (IBA) events might violate local regulations, Bangkok Post reported today (Monday). The regulator clarified that IBAs can only promote digital token services to avoid speculation on cryptocurrencies, which are categorised as high-risk assets.

Clarifying Rules for Investors Benefits

IBAs are local companies or agents that onboard clients in a local market for their partner digital asset exchanges for commission. These practices are standard for exchanges or brokers that do not operate directly in some markets.

The warning came as the Thai regulator is reiterating the operations of digital asset exchanges in the country to ensure their compliance with local business standards and to focus on benefiting investors and protecting their interests.

Cryptocurrency exchanges are legal in Thailand, but they must obtain local approval. Last month, the country even allowed asset management firms to launch private funds to offer bitcoin exchange-traded funds (ETFs), but only to institutional and ultra-high-net-worth investors.

However, the country banned the sale of cryptocurrency lending products and also mandated that exchanges display a risk warning message.

Companies Must Be Honest

The recent cautionary order confirms the Thai regulators priority to ensure the advertisements and sales promotions of the crypto exchanges comply with specified criteria and also eliminate false, exaggerated, distorted, concealing, or misleading information. It further highlighted the mandatory warnings about investment risks for investors in all advertisements and promotions.

When operators organise sales promotions by offering rewards to entice people to use the service, this could encourage use of the service without considering the investment risks. This is especially the case for cryptocurrencies, Anek Yooyuen, Deputy Secretary-General of the Thai SEC said in a statement.

The SEC is asking business operators to strictly comply with the rules and be careful when organising IBAs, advertising and sales promotions, following the relevant rules and guidelines. If there is any violation, there will be punishment according to the law.

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Trump signs resolution abolishing IRS DeFi broker regulation

President Trump has recently signed a resolution that effectively eliminates a controversial IRS rule related to decentralized finance (DeFi) brokers. This move comes as a relief to many in the DeFi community who have been concerned about the potential impact of the rule on their operations. The IRS rule in question required brokers to report [...]

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US Senate Resolves to Eliminate Unfeasible IRS DeFi Broker Rule

The US Senate has given the green light to eliminate a crypto broker rule imposed by the Internal Revenue Service (IRS). This pivotal decision marks a significant step in the regulation of cryptocurrency exchanges. The IRS had previously defined brokers in the crypto space too broadly, requiring them to report transactions involving digital assets. However, [...]

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US Lawmakers Push to Overturn IRS Crypto Broker Rule

A bipartisan effort is underway in Congress to overturn an Internal Revenue Service (IRS) regulation that would impose stringent reporting requirements on decentralized finance (DeFi) platforms.

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White House to Back Repealing DeFi Broker Rule with Support from David Sacks

The White House has decided to reverse the DeFi broker rule, signaling a shift in regulatory strategy. This change comes amidst growing interest in decentralized finance (DeFi) and the challenges it poses to traditional banking systems. The decision to rescind the rule reflects a recognition of the need to adapt regulations to accommodate innovative technologies [...]

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