News Nuggets | 28 June: Revolut Slashes Crypto Fees; BitPay Adds New Payment Options

<p>BitPay and Ramp Add New
Payment Options</p><p><a href="https://www.financemagnates.com/tag/bitpay/" target="_blank" rel="follow">BitPay </a>and
Ramp have expanded the flexibility and choice of purchasing crypto by
incorporating support for over 40 new fiat currencies. The collaboration aims
to provide a seamless crypto purchase experience to customers worldwide. </p><p>Fiat
currencies like the Brazilian Real, Malaysian Ringgit, Peruvian Sol, South
African Rand, and many others are now accepted, enabling consumers to buy
<a href="https://www.financemagnates.com/terms/b/bitcoin/">Bitcoin</a>, Litecoin, Ether, Dogecoin, and other digital assets with their native
currencies.</p><p>Praxis Elevates CSO </p><p><a href="https://www.financemagnates.com/tag/praxis/" target="_blank" rel="follow">Praxis</a>, a
software development company headquartered in Cyprus, has moved its Chief Sales
Officer (CSO), Natalie Agopian, to a branch in the United Arab Emirates (UAE).
Agopian will now head the local office as the Dubai Regional Manager.</p><p>"I'm
happy to share that I'm starting a new position as Dubai Regional Manager at
Praxis," Agopian wrote on her LinkedIn profile.</p><p>The new
Dubai Regional Manager joined the company in July 2018 as a Business
Development Manager. After a year, she was promoted to the position of CSO and
spent almost four years on that post.</p><p>Revolut Slashes Crypto
Trading Fees</p><p>UK-based
neobank, <a href="https://www.financemagnates.com/tag/revolut/" target="_blank" rel="follow">Revolut</a>, has announced a significant reduction in its crypto trading
fees in response to customer feedback. As part of the fee restructuring,
standard and plus customers will witness a drop in crypto trading fees from
1.99% to 1.49%, while premium and metal customers will see their fees lowered
from 1.49% to 0.99%. </p><p>"We've
been listening to your feedback, and have decided to update our fee
structure," the company commented in an email sent to customers.
"We're happy to announce a reduction to some of our crypto trading
fees."</p><p>This move
reaffirms Revolut's commitment to improving its crypto trading services, which
it has been offering since November 2017.</p><p>Quartr Partners Up with
Pareto</p><p>The <a href="https://www.financemagnates.com/tag/fintech/" target="_blank" rel="follow">fintech
</a>firm, Quartr has reached a significant milestone in its mission to enhance
financial community cohesiveness by partnering with the Norwegian investment
bank, Pareto Securities. </p><p>This
partnership, facilitated through an API deal, empowers Pareto's online
brokerage and equity research clients with direct access to Quartr's database
of earnings calls and financial segment data. </p><p>The Co-Founder
and CEO of Pareto, Sami Osman, expressed confidence in the growing demand from
professional end-users, such as Pareto's clients, to access first-party data
from public companies.</p><p>"I am
proud to say that our API customers include financial research and investing
platforms, online brokers, and now Pareto Securities as the first-ever investment
ban," Osman commented.</p><p>Orient Finance's Demo
Trading Accounts</p><p><a href="https://www.financemagnates.com/tag/dubai/" target="_blank" rel="follow">Dubai-based</a>
Orient Finance is now offering demo trading accounts as part of its efforts to
empower businesses. Available 24/7, these demo accounts aim to improve trading
skills and facilitate strategy development. </p><p>The tool is
accessible via mobile apps and web browsers, providing traders with $25,000 in
virtual money to experiment with and improve trading skills. The Managing
Director of Orient Finance, Seraj Asad Khan, stated that this new feature
reaffirms Orient Finance's commitment to support businesses in their trading
endeavors by offering reliable services and tools.</p><p>"With
this goal in mind, we have developed the Demo Account, a powerful resource
designed to enhance businesses' confidence and facilitate the refinement of
their trading strategies and skills," he added.</p><p>MAS Considers Raising
Deposit Insurance</p><p>The
Monetary Authority of Singapore (<a href="https://www.financemagnates.com/tag/mas/" target="_blank" rel="follow">MAS</a>) has suggested an increase in deposit
insurance coverage per depositor from S$75,000 to S$100,000. </p><p>This
proposal is part of a public consultation paper aiming to enhance the clarity
and operational efficiency of the deposit insurance scheme. </p><p>The
increased coverage will ensure the majority of smaller depositors remain fully
protected, considering the growth in average deposit balances. If approved, the
proposal would result in 91% of depositors being fully covered by deposit
insurance.</p><p>KX Integration with
Snowflake Network</p><p>KX, the Data
Timehouse and KDB.AI vector database creator, has announced its partnership
with Snowflake Partner Network. This alliance aims to provide scalable
temporal and vector data <a href="https://www.financemagnates.com/terms/a/analytics/">analytics</a> to joint customers, initially focusing on
the financial services industry. </p><p>KX's
integration with Snowflake's Data Cloud allows users to run time series
analytics and vector-processing workloads without modifying code or leaving the
Snowflake environment. </p><p>Ashok
Reddy, the CEO of KX, emphasized the role of temporal and vector data in
driving digital transformation and generative AI.</p><p>SFC and HK Exchange Strengthen
MoU</p><p>The
Securities and Futures Commission (<a href="https://www.financemagnates.com/tag/sfc/" target="_blank" rel="follow">SFC</a>) and The Stock Exchange of Hong Kong
Limited have fortified their Memorandum of Understanding (MoU) by signing a
second addendum. </p><p>This new
addition primarily enables electronic records and signatures on information and
documents provided by issuers and advisers via the Fast Interface for New
Issuance (FINI). </p><p>The second
addendum, which signifies the acceptance and consent of the SFC and the HK
Exchange to this digital transformation, becomes effective on 28 June.</p><p>XTM's Management Cease
Trade Order Update</p><p>XTM Inc.
has provided an update regarding its previously announced management cease
trade order (MCTO) granted by the Ontario Securities Commission (<a href="https://www.financemagnates.com/tag/osc/" target="_blank" rel="follow">OSC</a>). The
order prevents the CEO and CFO from trading in the company's securities until
it files the necessary financial statements and the OSC revokes the MCTO. </p><p>The delay
in filing is due to a recent change in the company's auditor and audit
requirements resulting from increased transaction volume. However, this order
does not affect the trading abilities of other shareholders. Furthermore, XTM mentioned
that it might not be able to file interim financial statements for the first
quarter of 2023.</p>

This article was written by Damian Chmiel at www.financemagnates.com.