The decision follows a surge in retail trading fueled by the COVID-19 pandemic, which led various mobile banking platforms, including the UK's Revolut, to incorporate stock and cryptocurrency trading features. N26 had previously launched crypto trading for some of its users towards the end of 2022. The move comes after the German financial watchdog BaFin…
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The growth trajectory is a testament to the company's evolution since its inception in 2019 as a German brokerage firm. Its roots date back to 2015 when it operated under Neon Trading within a startup incubator. Trade Republic's journey began in earnest in 2019 when it opened its platform for commission-free trading to a select…
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The firm's ending client equity surged to $426 billion, demonstrating an impressive 39% annual growth. Financially, Interactive Brokers saw positive trends in client assets and transactions. The company reported a 14% annual increase in client margin loan balances, totalling $44.4 billion, and a 10% rise in client credit balances to $104.5 billion. Furthermore, the brokerage…
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Despite uncertainty about whether bonds will ignite the same excitement as stocks, these fintechs leverage high Federal Reserve interest rates to attract retail interest. They are introducing features akin to stock trading, including low-cost options, educational tools, user-friendly apps, and fractionalised investments. Public, for instance, has begun allowing customers to invest in smaller portions of…
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Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…
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Despite a challenging year for fintech companies, Revolut has experienced substantial growth, driven by an influx of new customers. The startup attracts nearly 300,000 users weekly, expanding its global customer base to nearly 40 million. This impressive growth comes amidst stiff competition from traditional banks and other fintech startups. The latest financial developments offer reassurance…
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Now operating its consumer services under the Taurex brand and its business-to-business services as Zenfinex, the group is planning a significant investment in its own technological developments following the recent influx of funds. The investments include the development of a new mobile app and an enhanced web platform, as shared with Finance Magnates. The launch…
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The expansion not only offers a broader range of stock options to eToro's users but also aligns with the company's mission to provide cost-effective trading solutions. The users now have the chance to diversify their investment portfolios more robustly by adding these stocks. The expansion covers a variety of new stocks, thus broadening investment choices…
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Andrew Ralich, the CEO of oneZero, highlights that these developments are part of four key themes planned for the next year. These include advancements in artificial intelligence (AI) for analysing foreign exchange (FX) data, strategies to capitalise on market flow, and adapting to the T+1 settlement shift in North America. Ralich emphasises the importance of…
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According to a press release, Citi’s cross-border payment solutions will help the fintech expand across Colombia, with a potential reach into other neighbouring countries. Supra has also received backing from early-stage capital investor Far Out Ventures and the early-stage capital management fund H2O Capital Innovation. Don’t miss out the latest news, subscribe to LeapRate’s newsletter…
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