News Nuggets | 9 August: GO Markets Expands into Asia; BaFin Investigates Worldcoin

<p>GO Markets Partners with
Options Technology</p><p>Options
Technology, a financial technology and market data solutions company, has been
chosen as the primary market data provider for GO Markets' Asian market
endeavors. The partnership will initially focus on delivering Hong Kong Stock
Exchange data and redistributing CFD products, with hopes of taking this
success globally. </p><p><a href="https://www.financemagnates.com/tag/go-markets/" target="_blank" rel="follow">GO Markets</a>,
a global financial service provider, has selected Options for its superior
risk-monitoring features, efficient data management, and world-class infrastructure.
Danny Moore, the CEO at Options, highlighted that this alliance emphasizes the company's
dedication to helping firms like GO Markets excel in today's dynamic financial
environment.</p><p>"We
are delighted to be selected as GO Markets' primary market data provider for their
expansion into the Asian Markets," Moore added.</p><p>FCA Issues New Warnings on
Unauthorized Firms</p><p>The
Financial Conduct Authority (<a href="https://www.financemagnates.com/tag/fca/" target="_blank" rel="follow">FCA</a>) has released warnings against several firms
and individuals operating without authorization or registration. Among these
are Perfect Kinetic Flipper, PRIESTLY, BRAVERMAN &amp; ASSOCIATES LLC,
AllianceheritageFX, Geniovest, and several others. </p><p>The FCA
warns the public to be wary of such unauthorized entities and underscores the
potential risks involved in engaging with them. <a href="https://www.fca.org.uk/news/search-results?n_search_term=&amp;category=warnings&amp;sort_by=dmetaZ">The
complete list can be found here</a>.</p><p>German Regulator
Investigates Worldcoin</p><p>As reported
by Handelsblatt, Germany's financial regulator, <a href="https://www.financemagnates.com/tag/bafin/" target="_blank" rel="follow">BaFin</a>, has initiated an
investigation into the digital currency Worldcoin. The probe is centered around
companies that might be targeting the German market without the necessary
permissions, such as operating in the German language. At the moment, Worldcoin
has not provided any comments regarding the investigation.</p><p>"We
are monitoring Worldcoin's activities. If a company turns to the German market
without the necessary permission, for example with a website or app in German,
we investigate it," the spokeswoman at BaFin commented in German and
translated to English using Google Translate.</p><blockquote><p lang="en" dir="ltr">GERMAN REGULATOR BAFIN INVESTIGATING DIGITAL CURRENCY WORLDCOIN – HANDELSBLATT</p>— *Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/1688913962518372352?ref_src=twsrc%5Etfw">August 8, 2023</a></blockquote><p>APRA Removes Liquidity
Requirement for Bendigo and Adelaide Bank</p><p>The
Australian Prudential Regulation Authority (<a href="https://www.financemagnates.com/tag/australia/" target="_blank" rel="follow">APRA</a>) announced that Bendigo and
Adelaide Bank no longer need to maintain an additional cash reserve, following
the bank's efforts to address <a href="https://www.financemagnates.com/terms/l/liquidity/">liquidity</a> requirement concerns. </p><p>Previously
in 2020, APRA had penalized the bank for not meeting the liquidity standard and
demanded an extra 10% liquidity cover ratio. The bank has since rectified the
situation to APRA's satisfaction, removing this additional requirement.</p><p>RaiseFX Celebrates Growth
in African Market</p><p><a href="https://www.financemagnates.com/tag/raisefx/" target="_blank" rel="follow">RaiseFX</a>, a CFD
broker, has announced a milestone of accumulating 12,000 active traders in
Africa. Dany Mawas, the CCO of RaiseFX, expressed delight at this achievement
and reaffirmed their dedication to the region's economy and the trading
community.</p><p>"The
African continent holds immense potential, and we are delighted to witness the
remarkable growth of our trading community. We are committed to expanding our
reach across Africa, supporting the aspirations of traders, and contributing to
the region's growing economy. The journey to 12,000 active traders is just the
beginning, as we are about to release exciting new services and products to
'further improve our users' trading experience in Africa. RaiseFX is dedicated
to becoming the preferred choice for traders in the region," Mawas added.</p><p>Goliaths Collaborates with
Currencycloud for Global Investment</p><p>Cyprus-based
social investment app, Goliaths, has joined forces with <a href="https://www.financemagnates.com/tag/currencycloud/" target="_blank" rel="follow">Currencycloud </a>to
provide clients with instantaneous trading benefits and access to competitive
foreign <a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> rates. This partnership enables Goliaths to handle over 30
currencies effortlessly for each trade, streamline in-app deposit methods, and
improve overall user experience. </p><p>Goliaths'
integration with Currencycloud is a testament to their commitment to offering
an efficient and comprehensive investment platform.</p><p>FCA Warns of Loan Fee
Fraud amidst Summer Spending</p><p>As summer spending
pressures mount, the FCA has kickstarted a campaign to raise awareness about
loan fee fraud. Current data reveals that 55% of UK adults are more anxious
about their finances this summer compared to the previous year. </p><p>Due to the
increase in people turning to credit or loans for summer expenses, there's a
heightened risk of falling prey to loan fee fraud. The FCA has issued a
checklist to help consumers guard against such frauds.</p><p>Payabl. Secures UK EMI
Licence</p><p>Payabl.
Group, one of Europe's top PayTechs, has acquired an Electronic Money
Institution (EMI) license in <a href="https://www.financemagnates.com/tag/uk/" target="_blank" rel="follow">the UK</a>, marking a significant milestone in its
growth journey. With Brexit changes affecting the rate of EMI licenses granted,
payabl.'s achievement stands out, given that the approval rate for EMI
applications has drastically decreased in recent years. Payabl. now looks
forward to expanding its team and merchant portfolio with this new
authorization.</p>

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