New technologies have changed the role advisors play for their clients. Now that discounts platforms, apps and algorithms have increasingly replaced their function as brokers and stock pickers, offering education on how to navigate the emerging financial landscape will be key. Source
Virgin Money has launched a digital platform that caters comprehensively to first-time and professional investors. Virgin Money has launched a digital retail wealth management platform for traders through a joint venture partnership. The Virgin Group financial services brand partnered with British-based global investment platform Abrdn to grant investor access to various investment funds. Virgin Money also leverages technology from FNZ for its digital platform initiative. First-time and seasoned investors will have online and mobile access to three investment choices within an ISA or GIA. The three available funds within the Individual Savings…
Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a digital version of the common currency. Monetary Authority of Montenegro to Cooperate With Ripple on ‘National Stablecoin’ Project The Central Bank of Montenegro (CBCG) has signed an agreement with blockchain solutions provider Ripple under which the two sides will collaborate to produce a strategy and pilot program to launch the country’s central bank…
The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate standards, including the G7 public policy principle for retail CBDC,” said Japan’s Vice Minister of Finance for International Affairs. G7 to Discuss Stronger Crypto Regulation The G7 countries will discuss tighter cryptocurrency regulation as well as explore ways to assist developing countries in introducing central bank digital currencies (CBDCs)…
At a Hong Kong media event, the Binance CEO stressed the importance of all-round active engagement in creating effective crypto regulations. Binance CEO Changpeng “CZ” Zhao recently weighed in on the formation of crypto regulations as a guiding principle over the digital asset class. According to Zhao, regulators need a deep understanding of digital currencies to formulate proper rules for effective oversight. The Binance CEO also added that regulatory clarity can only be reached via active engagement between regulators and major crypto stakeholders. Closer Look into Binance CEO Stance on Crypto Regulations…
Leading digital asset Bitcoin hit $30K for the first time in almost a year amid prevalent gains in crypto stocks. Crypto stocks are rising, with players Marathon Digital Holdings (NASDAQ: MARA) and Riot Platforms (NASDAQ: RIOT) leading gains. The duo is trading up at 11% and 15%, respectively, with prominent coin Bitcoin (BTC) also changing hands at $30K. As it stands, BTC price is up by more than 80% so far this year. Besides MARA and RIOT, other smaller crypto stocks also experienced significant gains on the second day of…
“We are very excited to partner with NextGen Digital Venture on launching the Fund, as we continue to strive for product innovation for our traditional finance clients. Grayscale is one of the largest digital asset fund managers in the world, and we are optimistic about the future growth of Grayscale powered by crypto adoption, said Adrian Wang, President of Metalpha Technology Holding, in a release. Source
Digital asset exchange “Bitfinex Securities El Salvador” has received a digital asset service provider license under El Salvador’s new Digital Assets Issuance Law, which was passed by El Salvador’s National Congress in January 2023, with the goal of fostering increased financial innovation and growth in the Central American country. According to the announcement, the license, which was granted on April 11 by El Salvador’s National Digital Asset Commission, makes Bitfinex Securities El Salvador “the world’s first international digital asset platform to receive approval to be licenced as a Digital Asset…
“We are delighted to be the first company to be awarded this license,” Paolo Ardoino, chief technology officer at Bitfinex, said in the statement. “It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime.” Source
Bitcoin pulled out a tight range around the $28,000 level on Monday afternoon and then pushed through $30,000 for the first time since June 10, 2022 late Monday evening, rising to as high as $30,400. The crypto is now up more than 80% in 2023 after having started the year at about $16,500. Source