What Did the CFTC Tell Exchanges? The U.S. Commodity Futures Trading Commission released new guidance on Thursday outlining how exchanges should approach listing prediction market contracts, as regulators respond to rapid growth in the sector. The advisory from the agency’s Division of Market Oversight reminds exchanges that event-based derivatives must comply with existing requirements under the Commodity Exchange Act and related CFTC regulations. Prediction markets allow traders to buy and sell contracts tied to the outcome of real-world events, including elections, economic data releases, and sports results. As trading activity has expanded, regulators have faced pressure to clarify how these markets fit into existing derivatives rules. Speaking on CNBC before the guidance was published, CFTC Chairman Mike Selig said the agency is working to establish clearer “rules of the road” for the sector. “It's really important that we don't have manipulation and insider trading and all sorts of abuse in our derivatives markets,” Selig said. The advisory stresses that exchanges designated as contract markets are responsible for evaluating whether event contracts meet regulatory standards before allowing them to trade. According to the guidance, those venues serve as the “first line of defense” in ensuring listed products are not susceptible to manipulation or abusive practices. Investor Takeaway The CFTC is not introducing a new rulebook yet, but it is reminding exchanges that prediction markets fall under existing derivatives law, increasing compliance pressure on platforms listing event contracts. Which Contracts Raise Manipulation Concerns? While the advisory applies broadly to event-based derivatives, regulators highlighted several categories of contracts that could present higher manipulation risks. The guidance warns exchanges to avoid listing contracts that could be easily influenced by participants or insiders. Examples cited include contracts tied to individual player injuries, unsportsmanlike conduct, or other narrowly defined sports outcomes. Regulators said these types of contracts may create incentives for traders to influence events directly, raising the risk of market abuse. These concerns follow several recent controversies surrounding prediction markets. Last month, blockchain analytics firm Bubblemaps identified a cluster of newly funded wallets that collectively earned roughly $1 million trading on a Polymarket contract tied to the possibility of a U.S. strike on Iran shortly before airstrikes were launched. Separately, Kalshi faced criticism over a contract titled “Ali Khamenei out as Supreme Leader?” after the Iranian leader was killed in U.S.-Israeli strikes. Critics argued the market functioned as a proxy death market, though the platform said its settlement rules were designed to prevent traders from profiting directly from a death event. Political Pressure Around “Death Bets” Concerns about prediction markets tied to violent or sensitive events have also reached Congress. This week, Democratic lawmakers introduced legislation known as the “Death Bets Act,” which would prohibit contracts linked to death, war, or assassination. Supporters of the proposal argue that certain prediction markets blur the line between financial forecasting and speculation on tragedies or violent outcomes. Critics of the bill, however, say overly broad restrictions could limit the development of legitimate event-based derivatives used for hedging or forecasting. The CFTC guidance does not directly address specific contracts but reinforces the principle that exchanges must evaluate whether listed markets could be manipulated or create abusive incentives. Investor Takeaway Regulatory scrutiny is increasingly focused on the types of events prediction markets allow traders to speculate on, particularly contracts tied to sports incidents, political violence, or insider information risks. Prediction Markets Are Expanding Rapidly The guidance arrives as prediction markets continue to grow quickly. Platforms such as Kalshi and Polymarket have seen record trading volumes over the past year and are reportedly exploring fundraising rounds at valuations near $20 billion, roughly double their most recent valuations, according to The Wall Street Journal. Trading activity reflects the same momentum. Combined monthly trading volume on Kalshi and Polymarket reached about $18.6 billion in February, the sixth consecutive monthly record, according to data compiled by The Block. Activity has remained elevated in March. Combined trading volume across the two platforms has already exceeded $8 billion this month with several weeks remaining, suggesting that demand for event-based trading products remains strong despite growing regulatory scrutiny. Closer Coordination Among US Regulators The CFTC guidance also comes amid closer coordination between U.S. financial regulators on emerging technologies. On Wednesday, the CFTC and the Securities and Exchange Commission signed a memorandum of understanding to collaborate on crypto policy and broader market oversight. The agencies said the agreement is designed to support lawful innovation while preserving market integrity. For prediction markets, the message is that regulators expect exchanges to apply existing derivatives safeguards even as the sector expands into new types of contracts.

Komainu has entered a partnership with staking infrastructure provider P2P.org to expand its institutional staking services for digital assets. The integration connects Komainu’s custody platform with P2P.org’s validator infrastructure, allowing institutional clients to participate in Proof of Stake networks while maintaining custody of their assets. The collaboration introduces an additional validator option within Komainu’s staking service and extends the number of supported assets available for staking through the platform. The partnership reflects continued institutional interest in staking services linked to digital asset custody infrastructure. Staking Through Custody Infrastructure Komainu launched its institutional staking service in 2022 as part of its digital asset custody offering. The service allows institutional investors to participate in Proof of Stake networks by locking digital assets to support blockchain validation processes. Participants receive network rewards in exchange for staking their assets. Through the new integration, Komainu clients can delegate staking operations to validator infrastructure operated by P2P.org. The assets remain stored within segregated custody wallets while being used to support blockchain validation. This structure allows institutions to participate in staking without transferring custody of their assets. Validator Infrastructure Integration P2P.org operates validator infrastructure used to support blockchain networks that rely on Proof of Stake consensus mechanisms. The company maintains validator nodes across more than forty blockchain networks. Through the partnership, this infrastructure becomes available to Komainu clients through the custody platform’s interface. The integration allows institutions to access staking services while maintaining control over their digital asset custody arrangements. Validator performance metrics including uptime and slashing history are part of the infrastructure evaluation used by institutional participants. P2P.org stated that its validator network maintains a record without slashing incidents. Custody and Staking Participation Institutional investors often require custody solutions that allow assets to remain under regulated storage conditions. Staking services integrated with custody platforms allow assets to remain in segregated wallets while participating in blockchain networks. This model is designed to maintain custody integrity while enabling participation in on chain validation processes. The integration between Komainu and P2P.org operates through a non custodial staking structure. Under this model, Komainu clients retain ownership and control of their assets while delegating validation activity to external infrastructure. The system also provides on chain transparency regarding staking activity and reward distribution. Expansion of Supported Assets The partnership introduces additional digital assets available for staking through Komainu’s platform. Among the supported assets is HYPE, which becomes available to institutional clients through the validator infrastructure. Proof of Stake networks require validators and delegators to secure blockchain operations. Institutional participation in staking has expanded as custody providers integrate validator infrastructure with their platforms. This approach allows asset managers and financial institutions to generate network rewards while maintaining operational controls required by institutional custody frameworks. Company Comments on the Partnership Sebastian Widmann, Head of Dubai at Komainu, commented on the collaboration with P2P.org. Sebastian Widmann, Head of Dubai at Komainu, commented, “Demand for staking continues to grow among institutional investors.” Sebastian Widmann, Head of Dubai at Komainu, commented, “By partnering with P2P.org, we’re expanding our infrastructure to deliver a secure, scalable and regulated solution that meets the highest standards.” Alex Loktev, Chief Revenue Officer at P2P.org, also commented on the integration. Alex Loktev, Chief Revenue Officer at P2P.org, commented, “Institutions want more than staking access—they want to earn network rewards securely without compromising on control or operational integrity.” Alex Loktev, Chief Revenue Officer at P2P.org, commented, “By integrating with Komainu, we’re enabling clients to stake directly from regulated custody wallets backed by our validator infrastructure.” Alex Loktev, Chief Revenue Officer at P2P.org, commented, “This partnership delivers a secure way to grow digital assets while maintaining institutional operational standards.” Institutional Staking Market Institutional participation in staking has expanded as digital asset custody providers integrate blockchain infrastructure with financial services. Proof of Stake networks require participants to lock assets in order to validate transactions and maintain network security. Participants receive network rewards for performing these functions. Institutional investors typically require custody systems that maintain regulatory compliance and operational safeguards. Staking services integrated with custody platforms allow these investors to participate in blockchain networks while maintaining custody controls. The integration between Komainu and P2P.org illustrates how custody providers and validator infrastructure operators collaborate to provide staking services for institutional digital asset investors. Takeaway Komainu has integrated staking infrastructure from validator provider P2P.org into its digital asset custody platform, allowing institutional clients to participate in Proof of Stake networks while retaining custody of their assets. The partnership expands the number of supported staking assets and connects regulated custody services with validator infrastructure used to secure blockchain networks.

Vantage has launched a new Premium Unlimited Account that introduces a flexible leverage structure for clients trading contracts for difference across multiple asset classes. The account allows traders to access higher leverage levels while operating under automated margin monitoring and risk control systems. The broker stated that the new account structure combines adjustable leverage conditions with built-in safeguards designed to monitor margin exposure and account equity in real time. Flexible Margin Structure for CFD Trading The Premium Unlimited Account introduces a margin framework designed to give traders greater flexibility when managing positions. Most CFD brokers offer fixed leverage limits that typically range between 1:500 and 1:1000. These limits determine how much capital traders must allocate when opening positions. Under the new account structure, margin requirements per trade can be reduced while automated monitoring systems track exposure levels. This structure allows traders to allocate capital across multiple instruments while the platform monitors risk thresholds. The account supports trading across several markets including foreign exchange, commodities, indices and other CFD instruments. Demand for Adjustable Leverage Conditions Leverage allows traders to control positions larger than the capital held in their accounts. Higher leverage can increase both potential profits and potential losses. Trading platforms typically limit leverage to reduce systemic risk within client accounts. Some brokers have introduced alternative leverage structures designed to adjust exposure dynamically based on account activity. Vantage stated that demand for flexible margin systems has increased as traders manage portfolios across multiple asset classes. Trading strategies that operate across several instruments may require different margin allocations depending on market conditions. Real-Time Risk Monitoring The Premium Unlimited Account includes automated systems that monitor margin exposure continuously. The platform evaluates account equity and open positions to determine appropriate leverage levels. This dynamic leverage system adjusts exposure according to the size of the account and current positions. Risk monitoring tools track margin requirements and account balances as markets move. The system can adjust trading limits when account equity changes. Real-time monitoring allows the platform to respond to market volatility while maintaining margin controls. Additional Risk Protection Features The account also includes several safeguards designed to limit potential losses. Negative balance protection prevents traders from losing more money than the funds deposited in their accounts. The platform tracks account equity levels and adjusts risk thresholds automatically. A zero percent stop-out feature is available for certain markets. This allows positions to remain open even when margin levels approach critical thresholds while the system continues monitoring exposure. Automated margin monitoring remains active during these conditions. Broker Infrastructure Development Vantage stated that the new account type forms part of its continued development of trading infrastructure. The company provides trading access to a range of CFD instruments across multiple asset classes. Multi-asset trading platforms increasingly introduce tools designed to support complex trading strategies. Infrastructure supporting these products must monitor risk conditions continuously. Automated systems are used to evaluate margin exposure, account equity and position size. These technologies allow brokers to offer more flexible trading conditions while maintaining risk management controls. Company Statement Marc Despallieres, Chief Strategy and Trading Officer at Vantage, commented on the new account structure. Marc Despallieres, Chief Strategy and Trading Officer at Vantage, commented, “Unlimited leverage only works when supported by strong margin monitoring and risk controls.” Marc Despallieres, Chief Strategy and Trading Officer at Vantage, commented, “Our focus is on building trading products that give clients greater flexibility while maintaining the stability and protection they expect from a trusted broker.” Leverage in CFD Markets Leverage is widely used in CFD trading to increase exposure to financial markets. Traders deposit margin capital while controlling positions larger than their account balances. Regulatory frameworks in many jurisdictions place limits on leverage offered to retail clients. Some brokers introduce alternative leverage structures for accounts that meet specific conditions. Dynamic leverage systems adjust exposure automatically based on account metrics. These systems combine automated monitoring with margin requirements designed to manage trading risk. Takeaway Vantage has launched a Premium Unlimited Account designed to offer more flexible leverage conditions for CFD traders. The account introduces dynamic leverage adjustments, automated margin monitoring and risk protection systems aimed at allowing traders to manage positions across multiple markets while the platform tracks exposure levels in real time.

Gold-i has integrated the decentralised exchange Hyperliquid into its MatrixNET liquidity management platform, allowing institutional trading firms and brokers to access decentralised crypto derivatives liquidity through the system’s trading infrastructure. The integration represents the first connection between a decentralised exchange and the MatrixNET platform, which is used by brokers, proprietary trading firms and fund managers to manage liquidity and execute trades across multiple venues. Through the integration, users of Gold-i’s trading technology can connect to Hyperliquid’s on chain derivatives markets using standard financial market connectivity protocols. DeFi Liquidity Access Through Trading Infrastructure The integration allows trading firms using MatrixNET to access liquidity from the Hyperliquid decentralised exchange. Hyperliquid provides trading for perpetual futures and spot cryptocurrency markets. Through the connection, institutions can stream liquidity from the exchange into trading platforms such as MetaTrader 5 or other supported trading systems. MatrixNET operates as a liquidity management system that aggregates pricing from multiple trading venues. The platform is used by brokers and institutional trading firms to route orders and distribute liquidity across connected markets. The addition of Hyperliquid introduces decentralised exchange liquidity into the system’s trading network. Integration Through FIX Connectivity The connection between the two platforms operates through the FIX protocol. FIX is a widely used messaging standard in financial markets for transmitting trade and order information between trading systems. Using this protocol, institutions can connect their trading infrastructure directly to Hyperliquid through MatrixNET. Orders generated by trading platforms can be routed through the system and executed on the decentralised exchange. The infrastructure also allows pricing data and liquidity information to be distributed to connected trading platforms. This structure allows decentralised exchange liquidity to be accessed through conventional institutional trading workflows. Order Flow Management and Execution Gold-i stated that the system normalises order flow before routing it to the decentralised exchange. This process adapts trading orders to match the execution parameters required by the Hyperliquid platform. The system also maintains routing and risk management functions used by institutions managing trading activity across multiple venues. MatrixNET includes tools for liquidity aggregation and order routing that allow traders to select the most suitable execution venue. These functions are commonly used by brokers and trading firms operating across several liquidity providers. The integration allows institutions to include decentralised exchange liquidity within their existing execution frameworks. Role of Liquidity Aggregation Platforms Liquidity aggregation platforms connect trading firms with multiple liquidity providers and trading venues. These systems collect price quotes and order book data from various markets and present them through a unified trading interface. Institutional traders often use these systems to distribute orders across several venues in order to access deeper liquidity pools. Aggregation platforms also provide tools for order routing and risk management. By connecting to decentralised exchanges, these platforms can extend liquidity access beyond traditional centralised trading venues. The integration between MatrixNET and Hyperliquid represents an example of how decentralised and centralised market infrastructure can interact. Company Comments on the Integration Tom Higgins, Chief Executive Officer and Founder of Gold-i, commented on the integration with the decentralised exchange. Tom Higgins, Chief Executive Officer and Founder of Gold-i, commented, “This was a complex implementation but a significant development for Gold-i, enabling us to offer our clients access to a market leading DeFi exchange.” Tom Higgins, Chief Executive Officer and Founder of Gold-i, commented, “Brokers, prop trading firms and fund managers using MatrixNET now have easy access to Hyperliquid’s on chain derivatives liquidity.” Tom Higgins, Chief Executive Officer and Founder of Gold-i, commented, “As interest in DeFi grows, Gold-i plans to support both centralised and decentralised liquidity venues, giving clients the benefit of flexibility, efficiency and seamless multi venue access.” Growth of Decentralised Trading Infrastructure Decentralised exchanges operate using blockchain based infrastructure rather than centralised trading systems. These platforms allow users to trade digital assets directly through smart contract based trading protocols. Decentralised derivatives markets have expanded in recent years as trading volumes in on chain financial markets increase. Institutional trading infrastructure providers have begun connecting their systems to decentralised exchanges in order to expand available liquidity sources. Such integrations allow trading firms to access decentralised markets using the same infrastructure used for traditional trading venues. The integration of Hyperliquid into MatrixNET illustrates how institutional trading technology providers are incorporating decentralised market liquidity into multi venue trading systems. Takeaway Gold-i has integrated the decentralised exchange Hyperliquid into its MatrixNET liquidity management platform, allowing brokers, proprietary trading firms and fund managers to access decentralised crypto derivatives liquidity through standard trading infrastructure. The connection introduces DeFi exchange liquidity into the MatrixNET network through FIX connectivity and institutional trading workflows.

The Texas Stock Exchange has selected AtlasInsight, a packet capture and analytics platform developed by Options Technology, to support monitoring and analysis across its trading infrastructure. The system will provide real-time network visibility and performance analysis as the exchange prepares for launch. AtlasInsight will integrate with the exchange’s infrastructure to capture network data and monitor system activity across trading and market data systems. Monitoring Infrastructure for a New Exchange The Texas Stock Exchange is developing a new trading venue designed to operate within U.S. capital markets. The exchange has stated that it is building its infrastructure from the ground up to support trading activity and market data distribution. Network monitoring systems are used by exchanges to track the performance of trading infrastructure. Packet capture technology records network traffic and allows operators to analyze system activity across trading systems. This capability allows exchanges to observe how data moves across networks and identify operational issues. AtlasInsight will provide this monitoring capability within the Texas Stock Exchange infrastructure. Packet Capture and Real-Time Analytics AtlasInsight captures network packets transmitted through exchange systems. The platform records this information and performs analysis in real time. These analytics tools allow operators to review data flows and infrastructure performance. Monitoring systems are used to observe network conditions, trading message flows and data distribution. Packet capture technology is widely used across trading venues to support operational analysis. The platform selected by the Texas Stock Exchange is designed to capture traffic at speeds of up to 200 gigabits per second. Network Visibility for Trading Systems Trading venues operate high-performance networks designed to process orders and distribute market data. Monitoring infrastructure allows operators to maintain oversight of these networks. Real-time analytics systems help exchanges evaluate latency, message throughput and network stability. These metrics are important in electronic trading environments where large volumes of data move across networks. Infrastructure monitoring systems can detect anomalies or performance issues affecting trading systems. Exchanges use these tools to maintain operational transparency and monitor network activity. Technology Provider Options Technology Options Technology provides infrastructure services used by financial institutions and trading venues. The company develops systems supporting networking, cloud infrastructure and data analytics. AtlasInsight is part of the firm’s infrastructure monitoring platform designed for financial markets. The system has also been deployed across Options’ own global infrastructure environment. Recent updates to the platform include a capture system designed to process network traffic at line rate speeds. The company has also introduced additional infrastructure tools focused on analytics and artificial intelligence. Statements from the Companies Danny Moore, President and Chief Executive Officer at Options Technology, commented on the collaboration. Danny Moore, President and Chief Executive Officer at Options Technology, commented, “We are excited to partner with TXSE as they bring a new exchange model to the U.S. markets.” Danny Moore, President and Chief Executive Officer at Options Technology, commented, “By integrating our capture and analytics capabilities with their infrastructure, we are supporting their commitment to operational transparency and reliability.” Rick Yoder, Chief Technology Officer at the Texas Stock Exchange, also commented on the deployment. Rick Yoder, Chief Technology Officer at the Texas Stock Exchange, commented, “At TXSE, we are building our core exchange infrastructure from the ground up to meet high standards of performance.” Rick Yoder, Chief Technology Officer at the Texas Stock Exchange, commented, “AtlasInsight delivers the real-time visibility we need across our network and market data infrastructure.” Technology Infrastructure in Modern Exchanges Electronic trading venues rely on complex network systems that handle order messages and market data. Infrastructure monitoring tools help exchanges oversee these systems. Packet capture systems record network traffic to allow operators to analyze trading activity and data distribution. Real-time analytics platforms allow exchanges to monitor performance metrics across trading infrastructure. These systems support operational oversight and troubleshooting within trading networks. The integration of AtlasInsight will provide these capabilities within the Texas Stock Exchange’s infrastructure as it prepares to launch operations. Takeaway The Texas Stock Exchange has selected Options Technology’s AtlasInsight platform to monitor network activity across its trading infrastructure. The packet capture and analytics system will provide real-time visibility into network performance and trading system activity as the exchange prepares to launch operations.

Bybit has introduced trading pairs denominated in United Arab Emirates dirhams, allowing users to trade selected digital assets directly using AED balances. The update enables customers to fund their exchange accounts through domestic bank transfers and use the deposited currency to execute spot crypto trades. The new feature removes the need to convert local currency into another trading currency before entering digital asset markets, providing a direct trading route for eligible users in the United Arab Emirates. The launch adds local currency functionality to the exchange’s trading infrastructure as demand for crypto services continues to expand in the region. New AED-Denominated Trading Pairs At launch, Bybit has introduced several trading pairs denominated in UAE dirhams. The available pairs include USDT/AED, BTC/AED, ETH/AED and SOL/AED. These pairs allow traders to buy or sell the supported cryptocurrencies directly using AED balances held within the exchange. Users can fund their accounts through bank transfers from domestic UAE financial institutions. Once funds are deposited, the AED balance can be used immediately for spot trading transactions. The exchange stated that eligibility requirements and regional restrictions apply to the service. Integration of Local Currency Infrastructure The introduction of AED trading pairs reflects a wider trend among digital asset exchanges to integrate local currencies into their trading platforms. Historically, many exchanges required users to convert local currency into widely used crypto trading currencies such as U.S. dollars or stablecoins before executing trades. Direct local currency trading pairs simplify the transaction process by removing the need for intermediate currency conversions. This structure may reduce transaction costs and operational steps for users accessing digital asset markets. The integration also links digital asset trading infrastructure with domestic banking systems. Through this model, users can transfer funds from bank accounts directly into exchange accounts using local currency. Linking Banking Systems and Digital Asset Platforms The new trading pairs operate through an on ramp system that connects UAE banking infrastructure with the digital asset trading platform. Users deposit funds through bank transfers from domestic financial institutions. Once the transfer is processed, the funds appear in the exchange account as AED balances. These balances can then be used to execute spot cryptocurrency trades. The model creates a direct link between traditional banking services and digital asset trading infrastructure. Integration between banking systems and crypto exchanges has expanded as regulatory frameworks for digital assets develop in several jurisdictions. Digital Asset Activity in the United Arab Emirates The United Arab Emirates has emerged as a regional center for digital asset activity. The country has established regulatory frameworks for digital asset service providers and trading platforms. Regulatory oversight is intended to support compliance requirements and operational standards for firms operating in the sector. Several global crypto exchanges have expanded operations in the region in recent years. Local currency trading functionality has become an element of exchange infrastructure as platforms seek to serve regional users. The addition of AED trading pairs forms part of these localization efforts. Company Comments on the Launch Derek Dai, Regional Head of MENA at Bybit, commented on the introduction of the new trading pairs. Derek Dai, Regional Head of MENA at Bybit, commented, “Being able to offer AED service to our local users carries significance beyond an improvement in user experience.” Derek Dai, Regional Head of MENA at Bybit, commented, “As regional demand for digital asset services grows, local currency on ramp, off ramp and trading play an increasingly important role in supporting responsible market participation.” Derek Dai, Regional Head of MENA at Bybit, commented, “We will continue to expand our products and services within the orbit of compliance here in the UAE.” The company stated that the new functionality aligns with the growth of digital asset services in the region. Expansion of Exchange Infrastructure Cryptocurrency exchanges have increasingly expanded their infrastructure to support localized financial services. This includes integration with regional payment networks, domestic bank transfer systems and local currency trading pairs. Such developments allow platforms to serve users in specific jurisdictions while complying with local financial regulations. Exchanges operating in regulated environments often adapt their services to align with domestic financial systems. The introduction of AED trading pairs represents one example of how exchanges adapt infrastructure to support regional markets. Takeaway Bybit has launched AED denominated trading pairs that allow users in the United Arab Emirates to trade selected cryptocurrencies directly using local currency balances deposited through domestic bank transfers. The development connects local banking infrastructure with digital asset trading and reflects a broader trend among exchanges to support localized currency trading options.

Oracle shares climbed above $160, reaching their highest level in roughly six weeks, following the release of a robust earnings report: → EPS: $1.79 vs. $1.70 expected → Revenue: $17.2bn vs. $16.7bn expected This marks the first quarter in 15 years in which both revenue and earnings grew more than 20% simultaneously. Key drivers included: → Cloud infrastructure revenue, up 84% to $4.9bn → A five-year, $300bn agreement with OpenAI (Project Stargate) → Total backlog exceeding $553bn, highlighting future revenue potential These results could relieve some of the selling pressure on ORCL, which had been in a downtrend since its record high last autumn. In our technical note on 5 February, we observed the stock dip below $150, noting that: → key support levels might limit further declines → prices below $150 could attract institutional buyers That day, ORCL established a low that held, and recent price action—including a bullish gap above $160—suggests that buyers are attempting to seize control. However, challenges remain: → the $170 level now acts as resistance after previously serving as support (marked on the chart) → the red descending channel is still in play, limiting upside momentum FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms! The FXOpen App is a dedicated mobile application designed to give traders full control of their accounts anytime, anywhere. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

On March 11, 2026, Foundry Digital, a subsidiary of Digital Currency Group and the operator of the world’s largest Bitcoin mining pool, announced its strategic expansion into the privacy-preserving cryptocurrency sector with the upcoming launch of a dedicated Zcash mining pool. Scheduled for a full operational debut in April 2026, the new pool aims to bring the same level of institutional-grade compliance, transparency, and operational excellence that has made Foundry USA Pool the dominant force in the Bitcoin hashrate market. This move marks Foundry's first major foray beyond the Bitcoin ecosystem and is designed specifically to address a critical "infrastructure gap" for public companies and financial institutions that wish to participate in Zcash's proof-of-work security but have previously lacked access to U.S.-domiciled, audited pool services. By providing a regulatory-aligned on-ramp for Zcash mining, Foundry is positioning itself as a key steward of the privacy-centric economy as institutional interest in shielded digital assets continues to surge. Strengthening Network Security and Promoting Mining Decentralization The introduction of Foundry’s Zcash pool is expected to have a significant positive impact on the health and decentralization of the Zcash network. For several years, Zcash mining has suffered from a high degree of concentration, with a single pool often commanding a significant portion of the total network hashrate. Zooko Wilcox, the founder of Zcash and current Chief Product Officer at Shielded Labs, welcomed the announcement, noting that Foundry’s entry will help distribute hashrate more broadly across the globe and attract new professional miners to the ecosystem. The pool will be built on a "hardened" infrastructure that supports SOC 1 Type 2 and SOC 2 Type 2 certified controls, ensuring that participants benefit from independently verified security protocols and transparent payout methodologies. This level of operational rigor is essential for attracting stable, long-term capital to the network’s security layer, effectively making Zcash a more viable asset for publicly traded mining firms that require rigorous audit trails and compliance documentation. Navigating the 2026 Privacy Narrative and Institutional Demand Foundry’s decision to expand into Zcash reflects a broader shift in the 2026 digital asset landscape, where privacy is increasingly viewed as a necessary functional requirement for the "tokenized" world. As corporate treasuries and institutional traders move larger volumes on-chain, the demand for "shielded" transactions—which protect sensitive data like transaction amounts and wallet balances—has grown exponentially. Foundry CEO Mike Colyer framed the expansion as a natural response to this market need, stating that while Zcash has matured into a sophisticated institutional asset, the underlying mining infrastructure has simply not kept pace. By offering a U.S.-based pool with 24/7 technical support and real-time reporting tools, Foundry is allowing institutional players to support the zero-knowledge technology that underpins the future of private digital finance. For the 2026 observer, the launch of the Foundry Zcash pool is a definitive signal that the "privacy versus compliance" debate is evolving into a more mature era where operational excellence and financial privacy can coexist effectively.

On March 11, 2026, Mastercard officially launched its "Crypto Partner Program," a massive global initiative aimed at integrating on-chain innovation directly into the traditional financial plumbing that powers everyday commerce. This program brings together a "who’s who" of more than 85 major players across the digital asset, fintech, and traditional banking sectors, including industry giants such as Binance, Circle, Gemini, PayPal, and Ripple. According to Mastercard’s executive leadership, the initiative marks a definitive transition for digital assets, moving them from a parallel financial system into a core component of global money movement. The primary focus of the partnership is "practical execution," specifically the development of scalable, compliant use cases for cross-border remittances, business-to-business (B2B) payments, and instant global payouts. By bridging the speed and programmability of blockchain technology with the trust and reach of the world’s most established card network, Mastercard is positioning itself as the central architect of the next phase of the digital economy. Orchestrating Collaboration for the "Last Mile" of On-Chain Payments The Crypto Partner Program is structured as a collaborative forum where participants work directly with Mastercard teams to shape the direction of future products and services. A key objective is solving the "last mile" problem in digital payments by leveraging Mastercard’s existing infrastructure, which spans over 210 countries and includes robust frameworks for identity verification, fraud prevention, and dispute resolution. Partner firms like Modern Treasury and Fireblocks will collaborate on creating seamless fiat-to-crypto on-ramps and off-ramps, while blockchain networks like Polygon and Solana will provide the underlying technical rails for near-instant settlement. Mastercard’s approach emphasizes that the next generation of financial services must work with what already exists, ensuring that blockchain-based transactions can integrate seamlessly into the systems that merchants and consumers already rely on. This "deployment-first" strategy is intended to move the industry away from theoretical pilots and toward a unified, high-volume payment network that combines the flexibility of tokens with the stability of the global banking system. Driving Mainstream Adoption Through Standards and Regulatory Alignment The launch of the program follows a year of significant regulatory progress in the United States and Europe, particularly regarding the commercialization of stablecoins. Mastercard’s research indicates that the clarity provided by new laws has created the necessary institutional confidence to move beyond speculative trading and into "agentic commerce," where AI systems manage transactions on behalf of users. To support this vision, the Crypto Partner Program will prioritize the development of digital identity wallets and verified credentials, helping to eliminate the friction and fraud risks often associated with complex crypto addresses. By fostering a shared framework for innovation, Mastercard aims to establish consistent industry standards that support responsible growth while maintaining the oversight required by global regulators. For the 2026 investor and business owner, the Mastercard Crypto Partner Program represents the most ambitious effort yet to turn cryptocurrency into a mainstream financial tool, proving that the future of money will be built through deep collaboration between the disruptors of the blockchain world and the gatekeepers of traditional finance.

On March 11, 2026, the global cryptocurrency giant Binance took a decisive stand against the traditional media establishment by filing a defamation lawsuit against the Wall Street Journal (WSJ) and its parent company, Dow Jones. The complaint, filed in the U.S. District Court for the Southern District of New York, centers on a February 23 report that Binance alleges contained "false and defamatory" statements regarding its compliance practices and its role in Facilitating transactions for sanctioned Iranian entities. Specifically, the exchange disputes the WSJ’s claim that it dismantled an internal investigation after employees uncovered over 1 billion dollars in fund flows tied to the Islamic Revolutionary Guard Corps and Houthi-aligned groups. Binance’s leadership, led by co-CEO Richard Teng, argues that the newspaper prioritized "clicks over journalistic integrity" and ignored extensive factual rebuttals provided before the story’s publication. By seeking a jury trial and undisclosed compensatory damages, Binance is signaling an end to its "defensive" posture, opting instead for a high-stakes legal battle to vindicate its reputation in the 2026 global market. Defending the "Substantial and Measurable" Success of its Compliance Program A primary focus of Binance’s legal challenge is the defense of its massive internal compliance infrastructure, which now includes over 1,500 specialists—nearly a quarter of its global workforce. In its formal response and court filings, the exchange highlighted "measurable" outcomes of its anti-money laundering (AML) and sanctions screening efforts, including a reported 96.8% reduction in sanctions-related exposure as a share of total volume since January 2024. Binance’s Global Head of Litigation, Dugan Bliss, asserted that the company takes "immense pride" in its industry-leading security measures, which processed more than 71,000 law enforcement requests and supported the recovery of hundreds of millions of dollars in illicit funds in 2025 alone. The exchange argues that the WSJ’s reporting "erodes trust" in the broader digital asset industry by mischaracterizing the inherent risks of public blockchains, where any party can send assets to an address without prior approval. By filing this lawsuit, Binance aims to prove that its commitment to regulatory standards is not just a legacy of its 2023 settlement, but a core component of its modern identity. The 2026 "Sanctions War" and the Fight Against Media Misinformation The defamation suit arrives amidst an intensifying investigation by the U.S. Department of Justice into whether Iranian proxy groups utilized the "shadow economy" of various crypto exchanges to evade 2026 sanctions. While the DOJ has not confirmed a formal probe into Binance itself, the negative reporting by the WSJ has already triggered "baseless and unnecessary" inquiries from lawmakers like Senator Richard Blumenthal, according to the exchange’s lawyers. Binance’s aggressive litigation strategy is designed to halt the "echo chamber" effect of negative press, where inaccurate reporting is amplified across social media and used as a justification for further regulatory crackdowns. As the 2026 market navigates heightened geopolitical tensions, the outcome of this case will serve as a definitive test of an exchange’s ability to defend its integrity against the power of traditional media. For the 300 million users who rely on Binance, the lawsuit is a bold assertion that the company will no longer allow its multi-billion dollar efforts in compliance and user protection to be overshadowed by what it describes as "hatred" and "ill-will" from the legacy financial press.

TabTrade (tabtrade.com), a new global forex and CFD broker, officially announces its launch under the leadership of Founder and CEO Benjamin Boulter. Built on the mission "Markets made simple," TabTrade enters the market by bridging the gap between retail trading and institutional-grade infrastructure. A New Standard in Pricing Transparency Unlike traditional models that rely on spread markups, TabTrade has committed to a headline standard of 0.0 pips average spreads on major currency pairs, including EUR/USD, GBP/USD, and USD/JPY. Operating on a strictly commission-only revenue model, the broker aligns its incentives with trader success by earning a fixed per-lot charge rather than profiting from widened spreads during market volatility. "We believe the pricing and execution quality available to institutional traders should be accessible to everyone," said Benjamin Boulter, Founder and CEO of TabTrade. "TabTrade is built to remove the hidden costs and execution friction that often hinder active traders." Engineering Speed: Sub-20ms Execution To support high-frequency and algorithmic strategies, TabTrade’s architecture is hosted within Equinix LD4 and LD5 data centers in London. This co-location environment allows the broker to offer verifiable execution targets: Edge Accounts: Targets under 30 milliseconds. VIP Accounts: Targets under 20 milliseconds. By publishing these specific latency benchmarks, TabTrade moves beyond vague marketing claims to provide a measurable performance standard for the industry. Open Market Access and Infrastructure TabTrade utilizes an Open Market Access model, routing client orders directly to external institutional liquidity providers. This ECN/STP-aligned framework eliminates the structural conflicts of interest inherent in internalized dealing desks. For advanced users, FIX API access is available, allowing for direct protocol-level connectivity. Multi-Platform Roadmap At launch, TabTrade is fully operational on MetaTrader 5 (MT5), supporting automated strategies and Expert Advisors. The company has also confirmed a roadmap that includes upcoming integrations with TradingView and cTrader, providing traders with a broader range of technically-oriented interfaces. Regulation and Security TabTrade Ltd is regulated in Saint Lucia by the Financial Services Regulatory Authority (FSRA) (Company No. 2025-00919). In accordance with strict compliance standards, all client funds are held in segregated accounts, ensuring they remain separate from the broker’s operational capital.

Ebene, Mauritius, March 12th, 2026, FinanceWire PU Prime and the Argentine Football Association (AFA) have unveiled The Glory, the final chapter of the global “Champion in You” brand campaign. The campaign explores the mindset shared by elite athletes and disciplined traders, celebrating the resilience, patience, and dedication required to achieve success. As part of this final chapter, PU Prime also released a series of interviews with traders reflecting on what progress and success mean in their own journeys. Users can watch the full interview here. For many participants, glory is not defined solely by financial results, but by the broader milestones achieved along the way, from building a secure future for their families to developing the discipline and confidence that comes from mastering a craft. In this chapter, Glory is reimagined as something deeply personal. It is found in the security that allows a parent to watch their children grow and thrive, the joy of building a life with a partner, and the self-discovery that comes from honing a skill over time. Through this collaboration, PU Prime and AFA celebrate the shared virtues of resilience and growth that define champions, whether on the football pitch or at the trading desk. The Trilogy: "Champion in You" The "Champion in You" campaign is a three-part series exploring the mindset shared by elite athletes and disciplined traders: Phase 1: The Dream – Focused on the ambition that drives individuals to step into the arena. Phase 2: The Grind – Highlighted the dedication, preparation, and learning behind the scenes. Phase 3: The Glory – Celebrates the milestones and small wins that shape a champion’s journey. Leandro Petersen, President of the Argentine Football Association, shared his thoughts on the collaboration: “We have always believed that the greatest triumphs are the result of a long and dedicated process. Glory is not only the final whistle of a championship, it is found in everyday excellence. We are proud to see these values of patience, persistence, and continuous growth reflected through the ‘Champion in You’ campaign.” The collaboration between PU Prime and the AFA continues to bridge the gap between sports and finance. By highlighting the shared values of precision, passion, and persistence, the Champion in You campaign has successfully brought a human touch to the trading experience for millions of users globally. As the journey of The Glory begins, PU Prime invites its global community to share their own milestones, reminding everyone that, while the market never sleeps, every win, no matter how small, is a step toward greatness. About PU Prime Founded in 2015, PU Prime is a leading global fintech company and trusted CFD broker. Today, it offers regulated financial products across forex, commodities, indices, shares, and bonds. Operating in over 190 countries with more than 40 million app downloads, PU Prime provides innovative trading platforms and an integrated copy trading feature, empowering traders worldwide to achieve financial success with confidence. For media enquiries, users can contact: media@puprime.com Contact Sim PU Prime kahlock.sim@puprime.com

Investortools has expanded its Investortools Dealer Network by adding PNC Capital Markets as a participating dealer. The integration allows institutional investors using Investortools’ fixed-income platform to connect directly with PNC’s trading desk through the same system used for portfolio management and order execution. The connection introduces additional liquidity access for buy-side institutions that rely on Investortools’ trading and portfolio infrastructure for municipal and fixed-income securities. Dealer Network Connectivity The Investortools Dealer Network connects institutional investors with fixed-income dealers through electronic trading infrastructure embedded within the Investortools platform. By integrating PNC Capital Markets into the network, mutual clients can interact with PNC’s trading desk without leaving their existing workflow systems. This structure allows portfolio managers and traders to manage orders, evaluate positions, and communicate with dealers within a unified interface. Electronic connectivity within fixed-income markets has expanded during the past decade as institutional investors adopt integrated trading systems. Dealer networks embedded in buy-side platforms allow investors to access liquidity from multiple counterparties while maintaining consistent operational workflows. The addition of PNC Capital Markets expands the pool of dealer connectivity available to firms using the Investortools infrastructure. Integration Driven by Client Demand Investortools stated that the integration with PNC Capital Markets was initiated following requests from mutual clients. Institutional investors often seek direct access to specific dealers within the trading systems they use to manage portfolios and execute transactions. Embedding dealer connectivity within portfolio management systems allows firms to maintain efficiency across trading workflows. The structure also allows traders to communicate with dealers without switching between different systems. Client demand has been a major driver behind the expansion of electronic dealer connectivity across the fixed-income sector. Technology providers increasingly expand networks based on relationships that clients maintain with specific trading counterparties. PNC Capital Markets Role in Fixed-Income Markets PNC Capital Markets operates as a trading and advisory arm of The PNC Financial Services Group. The firm participates as a liquidity provider in fixed-income markets, including municipal securities trading. Market makers such as PNC maintain inventories of securities and provide bid and offer quotes to institutional investors. These activities support secondary market liquidity across municipal and other fixed-income instruments. Institutional investors rely on dealer liquidity when executing large fixed-income transactions. Integration with electronic dealer networks allows these liquidity providers to interact more efficiently with buy-side institutions. Workflow Integration for Institutional Investors Investortools provides software used by institutional investors to manage fixed-income portfolios and trading activity. The platform includes tools for portfolio management, order management and execution workflows. Embedding dealer connectivity within these systems allows institutions to conduct multiple steps of the investment process within a single platform. Portfolio managers can review positions, initiate orders and communicate with dealers without exporting information between systems. This integration model supports straight-through processing within trading operations. Straight-through processing allows transactions to move through trading and settlement systems with reduced manual intervention. Company Statements Rob Leppert, Senior Vice President and Head of Municipal Fixed Income Sales at PNC Capital Markets, commented on the integration. Rob Leppert, Senior Vice President and Head of Municipal Fixed Income Sales at PNC Capital Markets, commented, “Our clients value the ability to access liquidity and manage inquiries efficiently within the systems they already use.” Mark Denick, Head of Municipal Trading at PNC Capital Markets, also commented on the partnership. Mark Denick, Head of Municipal Trading at PNC Capital Markets, commented, “Connecting to the Investortools Dealer Network allows us to meet clients where they transact while reinforcing our commitment to high-touch service and thoughtful execution.” James Morris, Senior Vice President and Head of Sales at Investortools, commented on the addition of PNC Capital Markets to the network. James Morris, Senior Vice President and Head of Sales at Investortools, commented, “This integration reflects our ongoing commitment to expanding connectivity with dealers our clients actively want to trade with.” James Morris, Senior Vice President and Head of Sales at Investortools, commented, “PNC’s relationship-first philosophy aligns with how we approach development by listening to clients and building solutions that support long-term partnerships.” Technology in Fixed-Income Trading Fixed-income markets have historically relied on voice trading between dealers and institutional investors. Over recent years, technology providers have introduced electronic trading systems designed to streamline communication between market participants. Dealer networks embedded within buy-side platforms represent one approach to expanding electronic connectivity. These systems allow institutional investors to access liquidity providers directly through portfolio management software. Investortools stated that its platform supports more than 200 firms managing more than one trillion dollars in assets. The company has provided fixed-income investment management software for more than four decades. Takeaway Investortools has integrated PNC Capital Markets into the Investortools Dealer Network, allowing institutional investors to connect directly with the dealer’s trading desk through the same platform used to manage portfolios and execute fixed-income trades. The addition expands electronic dealer connectivity within buy-side workflows and increases liquidity access for firms using the Investortools platform.

Dubai, United Arab Emirates, March 12th, 2026, FinanceWire New mobile app features improve execution speed, chart customization, and platform performance. STARTRADER App has introduced a series of updates to its mobile trading application designed to enhance trading efficiency and platform performance. The updates introduce faster chart-based trading functionality, expanded customization options, and performance optimizations across the mobile app. A key addition is One-Tap Trading on the K-line chart page, enabling traders to place Buy or Sell orders directly from the chart while clearly viewing the current lot size. Managed through Chart Settings, the feature includes safety checks validating lot size inputs, maximum positions, and margin requirements before execution. The platform also features customizable K-line chart styles, allowing traders to adjust chart height, candlestick styles, indicator settings, crosshair appearance, and other visual parameters. These options provide a more flexible and personalized chart experience, supporting more effective technical analysis and reducing visual complexity during market monitoring. Alongside these features, STARTRADER App has implemented experience optimizations across iOS and Android, improving chart animations, loading speed, and system stability. Updates to the K-line page enhance indicator calculations, synchronize bid/ask price movements with candlestick updates, and refine interface interactions, delivering a smoother, faster, and more reliable trading experience. “At STARTRADER, we believe innovation must always serve the trader. These updates reflect our ambition to continuously evolve our platform while ensuring the stability, reliability, and trust that define our trading ecosystem.” — Peter Karsten, Chief Executive Officer, STARTRADER These updates reflect STARTRADER’s commitment to strengthening platform infrastructure and the trading experience. By enhancing STARTRADER App trading functionality, the company supports traders navigating fast-moving markets while reinforcing the trust and reliability that underpin its digital ecosystem. About STARTRADER STARTRADER is a global broker that provides its clients with opportunities to trade financial instruments online. STARTRADER serves both Partners and Retail Clients, who can trade using the MetaTrader Platform, the STAR-APP, and STAR-COPY. As a global broker, STARTRADER holds a client-first approach as its core principle. Regulated in 5 jurisdictions (ASIC, FSA, FSC, FSCA, and CMA), STARTRADER upholds strong governance and sustainable growth. STARTRADER's team comprises dedicated professionals working collaboratively to deliver quality service to its Partners and Clients. Contact Global PR Manager Janna Magabilen STARTRADER janna.magabilen@startrader.com

Castries, Saint Lucia, March 12th, 2026, FinanceWire PrimeXBT, a global multi-asset broker and crypto asset service provider, announced the launch of PXTrader 2.0, a major upgrade to its native trading platform that combines crypto derivatives and traditional CFD markets, giving traders access to more than 350 instruments from a single account. The launch reflects PrimeXBT’s leading position in the growing convergence of crypto and traditional finance, supported by innovative trading infrastructure. PXTrader 2.0 reflects a growing shift in how traders use digital assets within financial markets. Crypto capital is increasingly being used not only to trade digital assets but also as a gateway to global financial markets. With PXTrader 2.0, traders can fund their accounts with cryptocurrencies such as BTC and ETH while gaining exposure to a wide range of traditional markets including Forex, commodities, indices, shares, and Crypto CFDs, alongside Crypto Futures. At the same time, the platform introduces a range of advanced trading capabilities designed to support more sophisticated market analysis and risk management across asset classes. PXTrader 2.0 integrates TradingView charts with more than 100 technical indicators, along with a redesigned trading interface and advanced order types. Traders can also customise their exposure through adjustable cross and isolated leverage up to 1:1000, while features such as hedge and netting modes and one-click trading provide greater precision and flexibility when navigating global markets. “Geopolitical tensions often trigger ripple effects across global markets, influencing currencies, commodities, equities, and digital assets at the same time. For traders, this creates a broader set of opportunities, particularly when they can move efficiently between asset classes. The ability to use crypto capital to access global markets is becoming an increasingly important advantage in this environment,” said Jonatan Randin, Senior Market Analyst at PrimeXBT. The launch of PXTrader 2.0 comes as trader expectations are rapidly evolving. As macroeconomic shifts, interest rate cycles, and geopolitical developments influence multiple markets simultaneously, traders increasingly expect platforms to provide seamless access to different asset classes within one environment. The ability to analyse markets, manage leverage and respond quickly across currencies, commodities, equities and digital assets is becoming an important part of modern trading infrastructure. With PXTrader 2.0, PrimeXBT continues to evolve its platform to reflect these changing market dynamics. By combining crypto derivatives with traditional financial instruments in a single trading environment, the broker aims to provide traders with a more connected and flexible way to access global markets. To learn more, users can visit PrimeXBT website. About PrimeXBT PrimeXBT is a global multi-asset broker and crypto asset service provider trusted by traders in more than 150 countries. The platform bridges traditional and digital markets within one integrated environment, redefining versatility and innovation in online trading. Clients can access Forex, CFDs on indices, commodities, shares, crypto, and Crypto Futures, as well as buy, store and exchange cryptocurrencies directly. This unified experience extends across both the native PXTrader 2.0 platform and MetaTrader 5, supported by advanced risk-management tools and a wide range of funding options in crypto, fiat and local payment methods. Since 2018, PrimeXBT has focused on empowering traders through broad multi-asset access, fair and transparent conditions, professional-grade technology and dedicated human support. By combining expertise, trust and a client-first approach, PrimeXBT sets a benchmark of excellence in the financial industry and provides traders with the tools they need to trade, grow and succeed with confidence. Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. The Company does not accept clients from the Restricted Jurisdictions as indicated on its website / T&Cs. Some products and services, including MT5, may not be available in your jurisdiction. The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration. Contact PrimeXBT pr@primexbt.com

Cryptocurrency exchange Bybit has announced the integration of Bybit Pay with the Mastercard Crypto Credential network, a move designed to make digital asset transfers simpler and more secure. The integration allows users to send and receive cryptocurrency using easy-to-remember aliases—such as email addresses or phone numbers—instead of long wallet addresses, while also introducing verification checks before transactions are executed. How the Integration Changes Crypto Transfers Traditional crypto transfers typically require users to enter long wallet addresses, increasing the risk of mistakes or sending funds to the wrong destination. Mastercard Crypto Credential aims to reduce these risks by verifying transaction details before funds are transferred. Before a transaction proceeds, the system confirms that the recipient: Is enrolled in the Mastercard Crypto Credential network Has been verified under Mastercard’s compliance standards Uses a wallet compatible with the selected asset and blockchain network If any incompatibility is detected, the system blocks the transfer before funds leave the sender’s wallet. Key Features of the Integration Alias-based transfers: Send crypto using a verified email or phone number. Pre-transaction verification: Confirms recipient identity and network compatibility. Multi-chain interoperability: Works across supported blockchains and participating platforms. Built-in safeguards: Reduces the risk of misdirected funds or failed transactions. Industry Takeaway Simplifying crypto payments is becoming a major industry focus. Alias-based transfers could significantly lower the barrier to entry for mainstream users unfamiliar with wallet addresses and blockchain networks. Making Crypto Payments Easier to Use Sophie Chen, Head of Marketing at Bybit Card and Bybit Pay, said the integration aims to remove technical barriers that have historically made crypto transactions difficult for everyday users. "Crypto should be as easy to use as any other form of payment in our daily lives," said Sophie Chen, Head of Marketing at Bybit Card and Bybit Pay. "With Mastercard Crypto Credential on Bybit Pay, we're removing technical barriers that have kept digital assets feeling complicated. Now, sending crypto is as simple as texting a friend: just use their email or phone number, with security built in and zero learning curve." “Mastercard is building the connective tissue that makes digital assets usable and trusted at scale,” said Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard. “Bringing Bybit into the Mastercard Crypto Credential network expands that foundation, enabling more people to benefit from a consistent, secure way to interact across platforms. It’s another step toward a more unified and reliable digital asset ecosystem.” How Users Can Get Started Using the new feature on Bybit Pay requires only a few steps: Activate Bybit Pay through the Bybit app. Create a Mastercard Crypto Credential username using an email address or phone number. Select supported blockchain networks and start sending or receiving crypto with other credential users. Once enrolled, users can transfer digital assets using their alias with compatibility checks automatically performed before each transaction. Expanding the Crypto Payment Ecosystem The partnership also strengthens Mastercard’s expanding Crypto Partner Program, which now includes more than 85 digital asset companies collaborating to build standardized infrastructure for blockchain payments. As one of the largest cryptocurrency exchanges globally, Bybit’s participation is expected to expand the reach of Mastercard Crypto Credential to millions of crypto-native users. For more information about the integration, users may visit: Bybit Pay Now Supports Mastercard Crypto Credential for Username-Based Crypto Transfers About Bybit Founded in 2018, Bybit is one of the world’s largest cryptocurrency exchanges by trading volume, serving more than 80 million users globally. The platform focuses on building an open ecosystem that bridges traditional finance and decentralized finance through Web3 infrastructure, secure custody solutions, and advanced trading tools.

Compliance technology has moved into a different category inside the CFD brokerage industry. What once sat inside onboarding teams, back office review queues, and regulatory reporting functions now sits much closer to the center of operational decision-making. Brokers are no longer treating compliance as a set of isolated controls. They are rebuilding it as infrastructure that shapes client acquisition, transaction monitoring, risk handling, and platform governance. This shift comes at a time when brokers face pressure from several directions at once. Regulators expect stronger evidence around KYC, surveillance, and governance. Clients expect faster onboarding and less friction. At the same time, the trading environment has become more technical, with automated strategies, faster execution, and more complex patterns of suspicious behavior that cannot be handled well by static rule sets alone.For this feature, FinanceFeeds gathered commentary from Mitesh Vaghela, Chief Operating Officer at Rostro Group, Konstantinos Chrysikos, Head of Customer Relationship Management at Kudotrade, and Muhammad Rasoul, Chief Executive Officer at Amana Capital. Their views point to the same conclusion from different angles. RegTech adoption is no longer about adding another compliance tool. It is about redesigning brokerage operations so that onboarding, monitoring, and reporting work as one connected system. Compliance is moving from control function to operating layer For many years, brokers built compliance frameworks around periodic review, exception handling, and manual escalation. That model made sense in a market where account volumes were lower, onboarding journeys were less digitized, and suspicious trading patterns developed at a pace human teams could still investigate in sequence. That world has passed. In the current environment, brokers need systems that can process trading and client data continuously and react before operational or regulatory exposure compounds. The implication is that compliance architecture now affects much more than the legal and risk departments. It affects onboarding conversion, customer support workload, transaction review times, and the speed with which firms can respond to suspicious behavior. This is why spending on RegTech and surveillance tools has become easier to justify at board level. The business case is no longer limited to regulatory hygiene. It now includes cost control, operational consistency, and resilience under stress. This change also explains why the most advanced brokers are connecting areas that used to sit apart. KYC data is being linked to ongoing monitoring. Trade surveillance is being integrated with execution systems. Reporting is becoming more automated. In practical terms, brokers are trying to remove the lag between an event, its detection, its review, and its reporting trail. Workflow automation is changing the economics of onboarding The first visible area of change is onboarding. For CFD brokers, client acquisition only translates into revenue when prospects complete verification, pass suitability checks, and move into funded accounts. Traditional onboarding flows created high cost per case because they relied heavily on manual review, fragmented systems, and repeated intervention whenever documents or identity checks fell outside preset parameters. Automation changes that picture in two ways. First, it reduces repetitive manual work by routing standard cases through more consistent workflows. Second, it gives compliance teams better exception handling for cases that do require deeper review. This distinction matters because brokers do not need every case to move faster in the same way. They need straightforward cases to clear without delay while complex cases receive more targeted scrutiny. Konstantinos Chrysikos, Head of Customer Relationship Management at Kudotrade, commented, Workflow automation is an important vector for the improvement of onboarding efficiency and the reduction of compliance costs. The firms seeing the strongest gains are reducing manual intervention, improving exception handling, and connecting onboarding/KYC data to ongoing monitoring, making reviews more targeted and efficient. Taking an end-to-end approach improves onboarding speed and helps reduce compliance cost per case over time. The important phrase here is end-to-end approach. Brokers that only automate identity checks without linking that data to later monitoring still leave value on the table. When onboarding information feeds into ongoing surveillance and account review, firms gain a clearer view of client behavior across the full relationship rather than at a single entry point. That leads to better prioritization and lower duplication of work later in the cycle. This also shifts how brokers think about compliance cost. The issue is not just whether onboarding becomes faster. It is whether the firm can reduce the total number of manual touches across the lifetime of the account. Firms that connect onboarding data to downstream controls are in a stronger position to do that. Brokers are trying to reduce friction without weakening standards Speed still matters. Retail clients have little patience for a long or confusing onboarding process, and brokers know that a weak onboarding journey can damage conversion before the trading relationship even begins. Yet the answer is not simply to strip out steps. In leveraged products, where suitability and risk disclosure remain central, some firms are moving in the opposite direction by adding steps where they believe understanding and consent need to be clearer. This is where compliance design becomes more sophisticated. Rather than reducing friction everywhere, brokers are trying to remove it in the parts of the process that do not improve client understanding or risk control. The goal is not a shorter journey at any cost. The goal is a more intelligent one. Muhammad Rasoul, Chief Executive Officer at Amana Capital, commented, Our recent upgrades have been about finding a better balance between efficiency and responsibility. We’ve actually added a few extra onboarding steps for ethical and compliance reasons—making sure clients clearly understand the risks, especially when using high leverage. In our industry regulated financial services, transparent risk disclosure and proper due diligence are simply essential. At the same time, we’re reducing friction where it matters. We’re expanding OTP verification beyond SMS and email to trusted messaging channels like WhatsApp and Telegram, making it easier and faster for users to complete onboarding—while still keeping security and trust front and center. That balance is likely to become more important across the sector. Regulators do not only care whether a firm verified identity. They also care whether disclosures were clear and whether client journeys were designed in a way that supports informed decision-making. At the same time, brokers cannot ignore the commercial reality that small delays or failed verification attempts can damage conversion. Using additional trusted messaging channels for verification is a good example of a targeted upgrade. It removes friction in a practical part of the process without diluting the control framework. More broadly, it shows that onboarding technology is no longer judged only by speed. It is judged by whether it can support both completion and accountability. AI surveillance is shifting from theory to trade-level detection If onboarding is the first compliance checkpoint, transaction monitoring is where the biggest technology race is now taking shape. Retail CFD brokers have always had to manage problematic flow, but the nature of that flow has changed. As execution speeds increased and trading tools became more automated, abusive behavior became harder to isolate through static alerts and threshold-based rules. That matters because suspicious activity in the retail CFD market often does not look identical to abuse patterns in institutional cash equities. Brokers may be dealing with latency exploitation, coordinated account behavior, or manipulative order activity that emerges in small fragments across multiple data points. Detecting those patterns requires systems that can ingest timing, behavior, and relationship data at a depth that legacy surveillance tools were not built to handle. Mitesh Vaghela, Chief Operating Officer at Rostro Group, commented, If you look at brokerage tech budgets for 2026, AI-driven risk management and liquidity bridges are taking up the most spend. Risk management has officially transitioned from a reactive, back-office compliance task into a core, real-time operational engine. Legacy, rules-based surveillance systems were notoriously blunt instruments; modern compute capacity and technology change those. Machine learning systems have been fundamental to the development of high finance over more than five decades, but the compute capacity today opens new avenues to analyse data in real-time and adapt to unprecedented market conditions. Market abuse in the retail CFD space often looks different than in institutional equities. Retail brokers are constantly fighting "toxic flow" - traders using aggressive bots to exploit microscopic latency delays in a broker's price feed latency arbitrage. AI pattern recognition models are now deployed directly at the trade processor level to catch these in milliseconds. On the regulatory front, market manipulation tactics like spoofing placing fake orders to manipulate the order book and wash trading accounts trading with each other to generate fake volume are hitting a wall. AI thrives at connecting these hardly visible dots. Once an incident is flagged and reviewed, APIs can automatically format and push the suspicious transaction reports STRs to regulators, fulfilling compliance requirements without manual data entry. The practical point is that surveillance is moving closer to execution and post-trade processing, rather than sitting as a separate review layer afterward. This reduces the time between suspicious activity and internal response, which matters both for market integrity and for the broker's own exposure to toxic flow. It also means compliance tools now overlap more directly with core trading infrastructure and liquidity management. The reporting component is also worth noting. Detection on its own does not solve the compliance problem if internal teams still need to prepare reports manually. The firms making progress are those that connect detection, review, documentation, and reporting into a single process. That shortens operational response times and leaves a more defensible record when regulators ask how a case was handled. Better surveillance now depends on calibration, governance, and data quality The industry conversation around AI can sometimes drift toward abstraction, but the most useful applications inside surveillance remain practical. Brokers do not need systems that promise to replace human judgment. They need systems that improve alert quality, reduce false positives, and surface patterns that static rules miss. In compliance operations, reliability usually matters more than novelty. This is why governance now plays such a large role in surveillance upgrades. Regulators are not likely to accept black-box systems that produce inconsistent or poorly documented outcomes. Firms need evidence that their models are calibrated correctly, tested properly, and supported by data that is complete enough to produce sound alerts. In other words, a weak data environment will limit the value of even the best surveillance model. Konstantinos Chrysikos, Head of Customer Relationship Management at Kudotrade, commented, The most useful AI applications improve the quality and efficiency of surveillance workflows. The most practical use cases include anomaly detection, alert prioritisation and triage, false-positive reduction, and the identification of more complex suspicious patterns that are harder to detect with static rules alone. Regulators are also pushing firms to focus on data quality, implementation testing, and governance, so the focus is shifting toward better-calibrated, more reliable surveillance to ensure these systems deliver reliable outcomes in practice. This suggests that the next stage of RegTech competition will not be won simply by who deploys AI fastest. It will be shaped by who can embed it in a controlled operating framework. Firms that invest in model governance, implementation testing, and data lineage will likely extract more value from their surveillance stack than firms that chase tools without fixing underlying process weaknesses. That is also why many compliance leaders now talk less about automation in the abstract and more about outcome quality. The benchmark is no longer whether the system generated more alerts. It is whether the firm ended up with fewer wasted investigations, better prioritization, and more confidence that serious issues were not buried inside noise. The market is splitting between internal buildouts and vendor-led RegTech Not every broker will reach the same end state through the same path. The compliance technology race is already showing a financial divide between firms that can fund internal buildouts and those that rely on vendor ecosystems. Both groups are increasing spend, but their capital allocation logic differs. Larger or better-capitalized brokers can justify internal teams that include data scientists, machine learning engineers, and specialists with experience in quant-heavy environments. These firms are not only buying tools. They are building internal capability and proprietary logic around surveillance and risk. Mid-sized firms face a different equation. They still need stronger compliance infrastructure, but they often cannot support large internal development costs or long implementation cycles. Mitesh Vaghela, Chief Operating Officer at Rostro Group, commented, This is where the financial divide in the industry dictates the outcome - both tier-1 and mid-size brokers are spending record amounts on AI for compliance, but the difference is in how they allocate that capital. More financially powerful brokers use their budget for headcount instead of software licenses. Data scientists, machine learning engineers, and quant-compliance specialists from hedge funds are onboarded to build detection engines. AI use today goes way beyond LLMs, especially in the finance industry, which is among the first adopters of reinforcement learning. Mid-sized brokers simply cannot justify a $10 million internal AI development project. Instead, their budgeting strategy relies heavily on third-party risk-management and RegTech vendors. Such brokers prioritize predictable, monthly licensing fees for cloud-based AI surveillance. They look for turnkey solutions that require zero setup fees and can be deployed rapidly. Rather than training models on their own limited data, mid-market brokers benefit from the "network effect" of SaaS providers for the time being. The vendor's AI is trained on data across dozens of different brokerages, meaning the mid-market firm can benefit from enterprise-grade pattern recognition without having to build the model themselves. This is a strategic divide, but not necessarily a quality divide. Vendor-led models can give mid-market brokers access to stronger surveillance than they could realistically build alone, especially when providers train models across broader cross-client datasets. Internal buildouts offer more control, but they also bring higher cost, more governance obligations, and more execution risk. The likely result is a hybrid future. Some brokers will own critical parts of the surveillance logic while relying on external vendors for infrastructure or specialist modules. Others will remain mostly vendor-led but add internal oversight and workflow customization. What matters most is not the purity of the model. It is whether the stack fits the firm's size, data environment, and regulatory perimeter. RegTech is becoming a board-level investment decision The broader lesson from these changes is that RegTech is no longer a narrow procurement category. It is becoming part of how boards think about scale, resilience, and operating quality. Onboarding systems influence growth efficiency. Surveillance systems influence market integrity and cost control. Reporting automation influences the firm's ability to defend its processes under regulatory scrutiny. Together, these functions form a larger operating layer that brokers can no longer afford to treat as secondary. That is why this area now commands more serious strategic attention. The firms that move well are not just buying isolated tools to satisfy a rulebook. They are redesigning the way data moves across the brokerage and the way compliance actions are triggered, reviewed, and documented. In practical terms, they are trying to build control systems that are faster, more consistent, and less dependent on manual intervention at scale. For CFD brokers, the next phase of competition in compliance will likely depend less on whether they adopt RegTech and more on how coherently they deploy it. The winning model will combine stronger KYC, better-quality surveillance, workable governance, and a realistic technology strategy that fits the firm's size. That is what will separate firms with a stack that merely exists from firms with a stack that actually works. Takeaway CFD brokers are moving compliance technology out of the back office and into the operating core of the business. KYC workflows, surveillance systems, and reporting tools are increasingly being linked so firms can act faster, reduce manual effort, and maintain a more complete regulatory record across the client lifecycle. The most useful upgrades are not the most theatrical ones. Workflow automation reduces cost per case when onboarding data feeds into ongoing monitoring. AI surveillance becomes valuable when it improves alert quality, detects patterns static rules miss, and supports cleaner reporting to regulators. In both cases, the commercial benefit comes from better process design rather than from technology labels alone. The strategic question now is how brokers build these capabilities. Large firms can fund internal teams and proprietary detection engines. Mid-sized brokers will often rely on vendor platforms and cloud-based RegTech. Both paths can work, but only if the stack is properly governed, calibrated, and connected to the wider brokerage infrastructure.

Bitpanda has reported adjusted revenue of €371 million for the 2025 financial year, representing a 16 percent increase compared with €321 million recorded in 2024. The digital asset trading platform also reported adjusted EBITDA of €13 million as the company increased spending on product development, regulatory expansion and international growth. The results reflect continued expansion of the company’s consumer and institutional services as it increased its user base and extended its regulatory footprint across multiple jurisdictions. The company stated that the performance reflects growth in both its retail trading platform and its institutional services. Revenue Growth and Profitability Bitpanda reported adjusted revenue of €371 million during the 2025 financial year. The figure represents a year over year increase of 16 percent compared with the previous year. The company recorded adjusted EBITDA of €13 million for the same period. Adjusted EBITDA declined from €52 million reported for 2024 as the company increased spending on product development and expansion initiatives. The company stated that the lower profitability reflects investments aimed at expanding its platform and international presence. Reported revenue for the year amounted to €7.7 billion according to figures disclosed by the company. Reported EBITDA for the period was €21 million. Expansion of Product Offering The company expanded its trading services during the year by introducing margin trading for more than one hundred crypto assets. The trading platform also increased the number of supported digital assets to more than 650. Additional product features introduced during the year included staking services for more than fifty digital assets. The company also introduced a Web3 wallet designed to support interactions with blockchain based applications. These developments form part of the company’s effort to expand its capabilities across digital asset trading and blockchain based financial services. User Growth and Institutional Partnerships Bitpanda increased its registered user base from 5.9 million in 2024 to 7.4 million by the end of 2025. The company also expanded its network of institutional partners. The number of business to business partners increased from nine to sixteen during the year. These partners include financial institutions and companies integrating digital asset services through Bitpanda’s infrastructure. The company also entered additional international markets including parts of Latin America and the Asia Pacific region. In addition, the platform launched its consumer trading services in the United Kingdom. Regulatory Licences and Compliance Bitpanda reported progress in obtaining regulatory approvals across multiple jurisdictions. The company holds a licence under the European Union’s Markets in Crypto Assets regulation. This licence allows the company to provide crypto asset services across the European Economic Area. The company also obtained licences to operate crypto asset services in the United Kingdom and the United Arab Emirates. Regulatory approvals allow digital asset trading platforms to operate under national or regional financial frameworks. Licensing requirements often include compliance with anti money laundering rules, consumer protection requirements and operational oversight. Company Comments on Financial Results Lukas Enzersdorfer-Konrad, Chief Executive Officer of Bitpanda, commented on the company’s financial performance. Lukas Enzersdorfer-Konrad, Chief Executive Officer of Bitpanda, commented, “2025 was a year of ambitious acceleration.” Lukas Enzersdorfer-Konrad, Chief Executive Officer of Bitpanda, commented, “We delivered strong top-line growth while making deliberate, strategic investments to position Bitpanda as a multi asset investment and trading platform and an expanding market infrastructure provider.” Lukas Enzersdorfer-Konrad, Chief Executive Officer of Bitpanda, commented, “We are well positioned to capture long term structural growth as digital asset adoption continues to increase among both retail investors and institutions.” Jonas Larsen, Chief Financial Officer of Bitpanda, also commented on the company’s performance. Jonas Larsen, Chief Financial Officer of Bitpanda, commented, “In 2025, we demonstrated the resilience and scalability of our business model.” Jonas Larsen, Chief Financial Officer of Bitpanda, commented, “Our strategic investments in platform capabilities, regulatory footprint and international expansion are strengthening our competitive positioning.” Jonas Larsen, Chief Financial Officer of Bitpanda, commented, “We remain focused on disciplined execution as we build the future of digital assets in Europe and beyond.” Digital Asset Platform Development Bitpanda operates a digital asset trading platform that offers access to a wide range of financial instruments. The platform provides trading services for cryptocurrencies, exchange traded funds, equities and commodities. The company states that its product catalogue includes more than 650 crypto assets as well as traditional financial instruments available through the platform. The company maintains offices in several cities including Vienna, London, Berlin and Dubai. Digital asset trading platforms continue to expand their services as competition among crypto trading providers increases. Many platforms now combine digital asset trading with access to traditional financial instruments. Takeaway Bitpanda reported adjusted revenue of €371 million for 2025 with adjusted EBITDA of €13 million as the company expanded its digital asset platform and international presence. The trading platform increased its user base to 7.4 million and expanded regulatory approvals across the European Union, the United Kingdom and the United Arab Emirates while investing in product development and institutional partnerships.

DriveWealth has partnered with Latin American neobank Ualá to launch a service that allows customers in Mexico to invest in U.S. equities through the Ualá mobile platform. The offering introduces access to shares of U.S. listed companies through fractional investing technology powered by DriveWealth’s brokerage infrastructure. The collaboration connects DriveWealth’s brokerage as a service platform with Ualá’s digital banking application, allowing Mexican users to purchase fractional shares of U.S. stocks starting from small investment amounts. The new service is presented within the Ualá app under a feature called Acciones, which provides access to equities and exchange traded funds listed in U.S. markets. Fractional Investing Infrastructure DriveWealth provides brokerage infrastructure through application programming interfaces used by financial institutions and fintech platforms. Its infrastructure allows partner platforms to offer trading services without building their own brokerage systems. The system supports order execution, clearing and custody through regulated brokerage services in the United States. Through this infrastructure, Ualá customers can purchase fractions of shares instead of whole equities. Fractional investing allows users to buy a portion of a stock based on the value they wish to invest rather than the price of a full share. This model allows investors to participate in equity markets with smaller amounts of capital. Access to U.S. Equities for Mexican Investors The new service allows Ualá users in Mexico to invest in companies listed on U.S. stock exchanges. Investors can access shares of companies including Apple, Amazon and Tesla through fractional ownership. The platform allows investments starting from approximately 20 Mexican pesos per transaction. This approach lowers the capital threshold typically required to access international equity markets. The service is designed to operate entirely through the Ualá mobile application. Users can place orders at any time, with transactions executed when U.S. markets open. Investment Participation in Mexico Access to equity markets remains limited among the Mexican population. According to data cited by the companies, approximately 4.4 percent of the population in Mexico currently invests in financial instruments. Limited participation has historically been associated with factors such as minimum investment requirements, financial literacy barriers and limited access to brokerage services. Digital financial platforms have begun introducing investment services designed for individuals who previously had limited access to financial markets. Fractional share trading and mobile investment platforms have been used to expand participation among retail investors. Features of the New Investment Service The Acciones feature within the Ualá platform includes several tools designed to support retail investors. Users are guided through a questionnaire that evaluates their investment profile and risk preferences. Based on these responses, the platform provides portfolio suggestions aligned with the user’s risk tolerance. Customers can also select diversified investment packages composed of U.S. equities and exchange traded funds. The platform does not charge account opening fees or transaction fees for the service. The investment process is designed to operate entirely through the mobile application used by Ualá customers. Execution and Custody Infrastructure Execution, clearing and custody of securities are handled through DriveWealth’s brokerage infrastructure. The system operates through an API based framework used by financial platforms offering investment services. DriveWealth’s infrastructure is regulated in the United States and provides custody and trading services for partner platforms. Through this structure, Ualá delivers the user interface and client experience while DriveWealth provides the brokerage infrastructure behind the service. Company Comments on the Partnership Naureen Hassan, Chief Executive Officer of DriveWealth, commented on the collaboration. Naureen Hassan, Chief Executive Officer of DriveWealth, commented, “DriveWealth was built to democratize access to financial independence and expand access to financial markets through trusted, regulated brokerage infrastructure.” Naureen Hassan, Chief Executive Officer of DriveWealth, commented, “Partnering with Ualá allows us to bring U.S. equities to a broader population of investors in Mexico through a secure, fractional investing experience.” Naureen Hassan, Chief Executive Officer of DriveWealth, commented, “We’re committed to working together to offer innovative investment solutions to Ualá customers while maintaining the highest standards of execution, custody and investor protection.” Pablo Savoldelli, Regional Director of Wealth Management at Ualá, also commented on the launch. Pablo Savoldelli, Regional Director of Wealth Management at Ualá, commented, “At Ualá, we work to make access to finance easier and easier.” Pablo Savoldelli, Regional Director of Wealth Management at Ualá, commented, “With the launch of Acciones, we are opening the doors of the global market to millions of Mexicans who previously saw these opportunities as unattainable.” Pablo Savoldelli, Regional Director of Wealth Management at Ualá, commented, “Now, starting from 20 pesos and with just a couple of clicks, our clients will be able to participate in the growth of the world’s largest companies.” Expansion of Global Investment Access The partnership reflects a broader trend in financial services where fintech platforms integrate brokerage infrastructure into digital banking applications. This structure allows neobanks and digital wallets to offer investment services without operating their own brokerage systems. As demand for global market access grows among retail investors, fintech platforms continue to expand investment products through partnerships with infrastructure providers. The integration between DriveWealth and Ualá introduces U.S. equity market access to a larger group of retail investors in Mexico. Takeaway DriveWealth has partnered with Latin American neobank Ualá to launch a service allowing Mexican users to invest in U.S. equities through fractional shares. The offering enables investments starting from small amounts through Ualá’s mobile application while DriveWealth provides the brokerage infrastructure handling execution, clearing and custody of the securities.

sFOX has announced a partnership with EDX Markets that will allow the crypto trading infrastructure provider to source liquidity from the institutional trading venue. The integration connects sFOX’s liquidity aggregation system with the EDX Markets trading platform, allowing institutional clients to access additional liquidity sources when executing digital asset trades. The collaboration links sFOX’s execution infrastructure with an institutional only marketplace designed for professional trading firms and asset managers. The companies stated that the integration will support price discovery and execution quality for institutional participants operating in digital asset markets. Liquidity Aggregation for Institutional Trading sFOX operates a trading infrastructure platform used by hedge funds, trading firms and other institutional participants in crypto markets. The platform aggregates liquidity from multiple trading venues and connects those venues to institutional clients through a single trading interface. Liquidity aggregation systems allow traders to access pricing across multiple venues simultaneously, which can support more efficient execution. By integrating liquidity from EDX Markets, sFOX expands the number of venues available within its trading network. This allows trading firms to route orders across additional liquidity pools when executing transactions. The integration is designed to support price discovery and order execution across digital asset markets. Institutional Crypto Trading Infrastructure EDX Markets operates an institutional trading venue for digital assets that is designed for professional trading firms. The marketplace operates with a structure similar to traditional financial exchanges and includes a central clearinghouse model. Central clearing allows trades to be processed through a clearing entity that manages settlement and counterparty risk. Institutional trading venues in digital asset markets often incorporate infrastructure structures used in traditional financial markets. This structure can include central clearing systems, regulated trading frameworks and institutional trading connectivity. These features are intended to support capital efficiency and operational controls required by institutional market participants. Execution Quality and Price Discovery The integration allows sFOX clients to access liquidity available on the EDX Markets platform when executing trades. Access to additional liquidity sources can improve the ability of traders to execute orders without significantly affecting market prices. Institutional traders often rely on aggregated liquidity systems when executing large orders. These systems distribute orders across multiple trading venues in order to obtain the best available prices. The addition of EDX Markets liquidity allows sFOX to incorporate pricing from the institutional trading venue within its execution infrastructure. This can increase the depth of available liquidity across supported digital assets. Company Comments on the Partnership Javier Martinez, Chief Executive Officer of sFOX, commented on the integration between the two trading platforms. Javier Martinez, Chief Executive Officer of sFOX, commented, “Partnering with EDX Markets enables us to further elevate our clients’ experience trading digital assets.” Javier Martinez, Chief Executive Officer of sFOX, commented, “This integration strengthens our ability to meet the evolving needs of institutional traders by delivering EDX’s high quality liquidity and reliable execution.” Tony Acuña-Rohter, Chief Executive Officer of EDX Markets, also commented on the partnership. Tony Acuña-Rohter, Chief Executive Officer of EDX Markets, commented, “sFOX brings deep expertise in institutional crypto execution and liquidity aggregation.” Tony Acuña-Rohter, Chief Executive Officer of EDX Markets, commented, “Through this collaboration, we are enabling high quality execution and capital efficient trading for sFOX’s clients.” Tony Acuña-Rohter, Chief Executive Officer of EDX Markets, commented, “This partnership strengthens institutional engagement with digital assets.” Growth of Institutional Crypto Infrastructure Digital asset markets have experienced increased participation from institutional trading firms during recent years. This participation has contributed to the development of infrastructure designed specifically for professional traders. Infrastructure providers now offer trading connectivity, custody services, clearing systems and liquidity aggregation tools that mirror structures used in traditional financial markets. Institutional trading platforms and execution systems are increasingly connected through integrations between liquidity providers and trading venues. The partnership between sFOX and EDX Markets represents another example of how infrastructure providers are linking trading networks in digital asset markets. Such integrations allow institutional traders to access multiple trading venues through unified execution systems. Takeaway sFOX has integrated liquidity from the institutional trading venue EDX Markets into its crypto trading infrastructure. The partnership allows institutional clients using sFOX to access additional liquidity and price discovery through EDX’s trading platform and central clearing structure, expanding execution options for professional digital asset traders.