News Nuggets | 16 August: eToro Partners with Reflexivity; BaFin Exposes Fortex Clone

<p>eToro Partners with
Reflexivity Research</p><p>eToro has declared
a strategic partnership with Reflexivity Research, an analysis firm focused on
crypto-native research. The collaboration aims to deliver informative and
innovative content concerning <a href="https://www.financemagnates.com/terms/b/bitcoin/">bitcoin</a> and cryptoassets. </p><p>The
partnership will lead to a new content initiative named 'BTC etc.' which will
feature a weekly crypto market overview, as well as a monthly podcast. This
podcast will be integrated into eToro's 'Digest &amp; Invest' series and will
host experts from both firms, discussing the latest in the crypto world.</p><p>"We
are thrilled to be partnering with Reflexivity Research to bring our users even
more valuable insights about the world of crypto," Mati Alon, the Editor
in Chief at <a href="https://www.financemagnates.com/tag/etoro/" target="_blank" rel="follow">eToro</a>, commented. "As a crypto pioneer, we see it as our
responsibility to provide accessible, timely and relevant content for our users."</p><p>Brokeree's Social Trading
Adds New Languages</p><p><a href="https://www.financemagnates.com/tag/brokeree-solutions/" target="_blank" rel="follow">Brokeree
Solutions</a>, in its recent update, has expanded the linguistic range supported by
its Social Trading platform. This move aims to cater to a broader audience,
enabling them to leverage the platform's innovative features. </p><p>Social
Trading, a copy trading platform, empowers brokers to launch trading signal
sharing throughout their trading ecosystem. Reacting to the needs of brokers in
the Southeast Asian region, the platform now supports Malay and Indonesian
languages. The platform now boasts accessibility in over 14 languages,
including Chinese, Korean, Thai, and Hindi.</p><p>Julia
Ilychova, the Operations Director at Brokeree Solution, discussed the firm's
expansion strategies, emphasizing the team's growth and the concerted efforts
towards establishing a more substantial foothold in regions like APAC, Middle
East, Africa, the Americas, EU, and the UK. The recent opening of an office in
Cyprus testifies to this commitment.</p><p>Warning against Fortexs.com
by BaFin</p><p><a href="https://www.financemagnates.com/tag/bafin/" target="_blank" rel="follow">BaFin</a>, the
German financial regulator, has issued a warning against the financial
offerings presented by Fortexs on its website, fortexs.com. The company
allegedly claims to operate under the jurisdictions of Cyprus, Belize, and
Mauritius and suggests having a business location in London, both of which BaFin
disputes. </p><p>The name 'Fortexs' can
mislead customers, as it is associated with another popular retail broker in
the FX and CFD space, 'Fortex'.</p><p>Klar Obtains $100M Credit
Facility from Victory Park Capital</p><p>Klar, a
digital financial services platform based in Mexico City, has announced the
procurement of a $100 million credit facility from Victory Park Capital, a
global alternative investment firm. This financial backing aims to aid Klar
during its pivotal growth phase as it broadens its offerings, especially in the
realm of transparent credit cards. </p><p>Since its
inception in 2019, Klar has experienced significant growth, leading the charge
in the Mexican financial sector by providing accessible credit lines to
millions. The recent collaboration with Victory Park Capital emphasizes Klar's
commitment to democratizing credit access in Mexico.</p><p>Cboe's Proceedings against
Goldman Sachs</p><p>Goldman
Sachs &amp; Co., LLC has presented a Letter of Consent to <a href="https://www.financemagnates.com/tag/cboe/" target="_blank" rel="follow">Cboe BZX Exchange,
Inc.</a>, proposing a <a href="https://www.financemagnates.com/terms/s/settlement/">settlement</a> for alleged violations of exchange rules. While
neither admitting nor denying the allegations, Goldman Sachs has been under
scrutiny for its compliance with the Large Options Position Report (LOPR)
reporting obligations. </p><p>This is not
the first instance of Goldman facing disciplinary action. In 2017, the firm was
fined $2,500,000 for similar LOPR reporting violations and related supervisory
failures.</p><p>Jefferies Recruits from
Credit Suisse</p><p>Jefferies
has onboarded Jon Gegenheimer, a former Managing Director at <a href="https://www.financemagnates.com/tag/credit-suisse/" target="_blank" rel="follow">Credit Suisse</a>, to
strengthen its US technology dealmaking arm. Based in San Francisco,
Gegenheimer will directly report to Cameron Lester and Jason Greenberg, the
global Co-Heads of Jefferies' technology, media, and telecom investment banking
division. </p><p>This hiring
is part of Jefferies' strategic expansion, which recently saw the firm recruit
top talents from other competitors.</p><p>Ex-Singapore
Parliamentarian Introduces Stablecoins</p><p>Calvin
Cheng, an investor and ex-parliamentarian from Singapore, has unveiled two new
<a href="https://www.financemagnates.com/tag/stablecoin/" target="_blank" rel="follow">stablecoins </a>through his rebranded Swiss company, Anchored Coins. The company,
which joined the Swiss VQF earlier in 2023, will issue a Swiss Franc-backed
stablecoin (ACHF) and a Euro-backed stablecoin (AEUR) on Ethereum and BNB Chain
blockchains. </p><p>Both
stablecoins will be backed 1-to-1 by their respective fiat currencies. Cheng
emphasizes the stability of Swiss banking and Switzerland's clear regulatory
guidelines as key reasons behind the launch, aiming to provide alternatives to
US dollar-pegged stablecoins.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.