FOR THE
MODERN BROKERS

We enable brokers to launch distinctive brands successfully.

One Stop HubFrom technology to liquidity, all in one place.

Fast & EfficientSave time and money with no development required.

CORE SOLUTIONS

MT4/5 White LabelTurnkey FX Broker trading platform integrated with Broctagon’s complete solution suite.

AXIS CRMYour highly customizable and fully branded FX Broker CRM deployed in 1 Day. SaaS model, no setup fee.
MULTI-ASSET LIQUIDITY
Over 1000 instruments with spreads from zero.
FULL SUITE

Investment PlatformPAMM / MAM / Social Trading

Ancillary ServicesIncorporation / Licensing / Website

Data Centre SecurityProtection / Recovery / Pentest
FOR NEXT-GEN
EXCHANGES

We enable exchanges to be instantly competitive with robust liquidity.

FOR PROMISING
TOKEN PROJECTS

We help tokens manage liquidity so they can focus on delivering success.

NEXUS 2.0 EXCHANGE SOLUTIONS

NEXUS LinkLiquidity Aggregator &
STP Engine
Supercharge your order books with aggregated liquidity.

NEXUS AutoChartData-Driven
Chart Synthesis
K-line plotting with global price discovery.

NEXUS CoreAutomated Market Making
System
Highly customizable with
full in-house control.

NEXUS E.O.E.Exchange of Exchanges (Coming Soon)Regulated Spot crypto liquidity provider. Single Counterparty.
TOKEN SOLUTIONS

NEXUS NativeAltcoin / Native Token
Liquidity Management
Market making and capital management system.
FOR FUTURE-PROOF
BUSINESSES

We enable businesses to participate in a decentralized future with minimal inertia.

Managed ServiceSo you can focus on your core business

SeamlessIntegrate blockchain into your current infrastructure

LET’S TALK

Free ConsultancyAllow us to understand your business to customize the perfect fit for your needs.

Schedule a Meeting

BLOCKCHAIN SOLUTIONS

NFT MarketplaceLaunch your fully branded NFT marketplace x social media platform.

Asset Tokenization PlatformLaunch your tokenized assets complete with an APP, CRM and Explorer with our plug-and-play platform.

Blockchain-in-a-BoxIndustry-agnostic data
integration on chain for
experimental implementation.

Whitepaper CreationCraft a professional whitepaper complete with project and
technical advisory.

Enterprise DevelopmentTailored, end-to-end solutions
and consultancy for non-disruptive blockchain implementation.
DEFI SOLUTIONS

DeFi Yield Farming

DeFi Arbitrage Bot

DeFi Lending

DeFi DEX AMM

Brokerage. Blockchain. Buzz.

Welcome, find all things buzzing on board at Broctagon’s blog! Here you’ll find the latest in blockchain news, exciting event highlights, insightful thought leadership in forex and crypto, and more. Be the first to know all about our  events and most innovative tech updates – all in one space.

Broctagon has just announced the launch of its customized DeFi Decentralized Exchanges (DEX) Platform and Automated Market Maker (AMM) Protocol integration.

Broctagon Fintech Group, experienced financial technology solutions provider, has announced the launch of its Decentralized Finance (DeFi) Lending Platform development services, with custom lending protocols designed to accommodate different use cases and business objectives.

Following a successful iFX Expo International 2022 in Limassol, Cyprus, Broctagon Fintech Group will be back at the largest B2B financial expo at its next installation in Bangkok, Thailand. iFX Expo Asia 2022 will be held from 13-15 September, taking place in Bangkok for the very first time.

In this brand-new upgrade, we tapped on the experience having served hundreds of brokers, to rollout a multitude of optimizations and customizations that address the common pain points of brokerages, allowing them to have enhanced control over client data with increased customizability, flexibility, and efficiency.

The Broctagon Prime team is happy to be back at iFX Expo Cyprus from 7th to 9th June 2022, widely regarded as one of the world's biggest financial enterprise conferences.

Broctagon Prime will be among the top experts in the fintech industry at the upcoming iFX Expo Cyprus 2022, the largest B2B Financial Expo, held at Palais des Sports - Spyros Kyprianou, Limassol. From 7th to 9th June, we'll be at Booth 75 to share with you about our top-notch trading solutions and first-rate institutional liquidity products.

In this new version update of the AXIS CRM, we have focused on a few new functionalities and fixes to make the process of client management and acquisition smoother.

In this latest AXIS CRM V4 update, we continue to implement updates to improve the user experience of administrators and IBs, to enable them to handle customer data more efficiently.

As companies compete for talent amidst a talent crunch, we spoke with Don Guo, CEO and Co-founder of the Broctagon Fintech Group to find out how Fintech companies are at the forefront of creating a workforce of the future and how they can gain an edge in the war for talent.

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CEX.IO, a global ecosystem of products and services that connects people and businesses to the cryptocurrency economy and decentralized finance, is the latest participant to join the inter-exchange liquidity network known as the WorldBook™.

Broctagon Fintech Group was recently awarded 'Best Crypto Liquidity Solutions' at the Crypto Expo Dubai 2022, as a recognition for our newly-upgraded product, the NEXUS 2.0 Crypto Liquidity Hub. Held at Dubai Festival City from 16 -17 March, more than 100+ crypto companies gathered at the premier cryptocurrency event.

Broctagon participated in this year's Finance Magnates London Summit. Hot on the heels of our attendance in the iFX International Expo 2021, this year's event was held in-person during the period of 16-17 November 2021 at London, Old Billingsgate. Broctagon’s CEO Don Guo was present in London to speak directly with our clients and partners at the event. As a global provider of multi-asset trading news, research, and events, Finance Magnates' London Summit this year continues to be one of the largest events that is held in the financial industry. Crypto as the Latest Topic With its growing dominance within financial institutions, the discussion of crypto was embedded within the fabric of the event. In light of growing crypto adoption by institutions, we had many discussions with exchanges and even traditional brokers about NEXUS 2.0, our spot crypto liquidity hub. By aggregating liquidity representing 85% of the crypto market complete with best bid/ask price discovery that is executable via Smart Order Routing (SOR). NEXUS 2.0 allows corporations and institutions to purchase cryptocurrencies from the best sources. For exchanges, this translates to global liquidity beyond the confines of a local order book, resulting in enhanced market depth and instant access to more than 1000 crypto pairs, including the latest trending tokens. With the rising popularity of the metaverse and tokens poised to make an impact such as Decentraland (MANA), The Sandbox (SAND), Star Atlas (ATLAS), Axie Infinity (AXS), Enjin (ENJ), access to NEXUS 2.0 will allow exchanges to capitalize on the latest trading wave. Enhanced Crypto CFD Offerings Beyond spot crypto, the conversations surrounding brokers were on crypto derivatives, especially in the form of crypto CFDS. As one of the pioneers of Crypto CFD and together with NEXUS 2.0, Broctagon is able to price major crypto CFDs with ultra-competitive spreads: BTC/USD spreads starting from $30 USD ETH/USD spreads starting from $2.5 USD New Opportunities We would like to thank our clients, partners, and peers that have made the effort to schedule and meet with us during the event. We are happy to call it a great success and look forward to seeing you again at our next event!

Naijacrypto is a premier cryptocurrency exchange platform that offers digital asset trading services such as trading tools and leverage trading.

Fasset is a regulated, multi-country Digital Asset Gateway that aims to connect the next billion to buy, sell, send and store digital assets such as Bitcoin and Real World Asset Tokens.

BITLEVEX revolutionizes investment platforms by offering leveraged options priced according to traditional Black & Scholes mathematical models.

“While a huge driver of its growth, shib's status as a memecoin may very well also be its bane," said Don Guo, the chief executive of trading technology company Broctagon, said in emailed comments, adding he believes it's "impossible" that shiba inu could ever reach $1.

“Named the Boba Network, the project is a layer-2 solution that allows crypto to have payment processing speeds that rival payment heavyweights like Visa and Mastercard,” Don Guo, CEO of Broctagon, said. “Game-changers like these, much like the NEXUS WorldBook movement, which is an inter-exchange liquidity network for digital assets, can create greater visibility and trust for crypto as a whole.”

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple.

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Broctagon has just announced the launch of its customized DeFi Decentralized Exchanges (DEX) Platform and Automated Market Maker (AMM) Protocol integration.

In this brand-new upgrade, we tapped on the experience having served hundreds of brokers, to rollout a multitude of optimizations and customizations that address the common pain points of brokerages, allowing them to have enhanced control over client data with increased customizability, flexibility, and efficiency.

In this new version update of the AXIS CRM, we have focused on a few new functionalities and fixes to make the process of client management and acquisition smoother.

In this latest AXIS CRM V4 update, we continue to implement updates to improve the user experience of administrators and IBs, to enable them to handle customer data more efficiently.

Broctagon Fintech Group has launched a unique social media-based NFT marketplace white label solution for businesses, communities and individuals looking to launch their own NFT marketplace.

Broctagon has developed Cryptography as a Service, with a suite of solutions specifically designed to give clients the best of both worlds – the efficiencies of blockchain technology with the assurance of data privacy.

NEXUS 2.0's latest update covers upgraded features including an all-new monitoring system, LMS enhancements and randomized volume scaling.

Brokerages in Asia will now have a wider variety of trading platforms made available with Broctagon's Spotware partnership to offer the cTrader Platform.

Broctagon Fintech Group, a liquidity and technology provider to the brokerage industry, has partnered with Spotware, thus becoming a specialist provider of cTrader White Labels.

Investing is about managing risks to reap rewards but everyone has different ideas about how to get there and just how much they are willing to gamble on reaching their wealth goals, says Broctagon Fintech Group's CEO Don Guo.

The main thing that puzzles most non-crypto fanatics is, why would anyone pay for high value NFTs when in this digital age, anything can be watched, copied or downloaded for free?

Owing to the country’s friendly regulatory environment with respect to financial markets, and fintech and blockchain within it, various other global cryptocurrency groups are expanding their presence in Singapore.

Non-Fungible Tokens (NFT) can help artists in a way by driving a change in how art is bought, sold, supported, enjoyed and created.

Today, social media platforms are a part of our everyday lives. We barely notice it, but millions of people around the world communicate, socialize, keep themselves updated with news, shop for products/services, and simply entertain themselves on social media. Every subject and trending issue can be seen on social media, and it is the fastest way to get the message out to a global audience. Online networks and user-generated content make up a considerable portion content on the Internet today. It is a platform for brands, creators, artists and any user to share their content and be heard. According to DataReportal, there are 4.33 billion social media users around the world at the start of 2021, equating to more than 55 percent of the total global population. Figures suggest that social media users equate to annualised growth of 13.7 percent, or an average 16½ new users every single second. A recent trending technology, NFT or Non-Fungible Tokens, has been the buzz and it is inevitable how this could eventually weave its way into social media, a phenomenon that has also intertwined with our daily lives in the last couple years. What is an NFT? An NFT (non-fungible digital token) is a token minted on blockchain technology that represents a unique asset and is not interchangeable. A blockchain is a distributed software network that functions both as a digital ledger and a mechanism enabling the secure transfer of assets without an intermediary. On the blockchain explorer, the history, owners and authenticity of each NFT can be verified. Read More: What is an NFT? Non-Fungible Tokens Explained An NFT can consist of an asset, say a piece of digital artwork, music or photo, plus a contract on blockchain asserting that the created piece of art is the original. NFTs are becoming more and more mainstream: collectors and artists have spent around $200 million on NFT-based artwork according to market tracker NonFungible.com compared to $250 million throughout all of 2020. NFTs have started to gain a broad attention as more celebrities get into the board. Elon Mask, Mark Cuban and Linkin Park guitarist Mike Shinoda started minting their own tokens. How Social Media Users Can Benefit from NFTs Monetization and Commodification of Digital Content NFTs give brands, marketers, influencers and any social media user the ability to create and monetize their content. Turning digital content on social media into NFTs allows an intangible artwork or photo to have tangible value by being tied to a crypto-based token, giving it accessibility and liquidity. Commodification is possible through the tokenization, by converting the physical or virtual content into digital units that can be bought and sold. As Oscar Wilde noted, all art is quite useless - the value of art is purely based on community-consensus and authenticity is valuable because it is scarce. Assigning a value to content through NFTs gives it that value. Earnings from Royalties Today, social media content producers pay out some of their profit to third-party intermediaries and platform fees. Blockchain-based social media platforms are disrupting this process by taking the middleman out and enabling content producers to have complete control over how and where their content is distributed and profit from the production of passive income. For artists and creators, being able to sell their work directly to a global buyer without going through an auction house or third party gives them a bigger portion of the profits they make from sales. Royalties can even be programmed into an NFT so that the creator receives a percentage of sale profits each time their work is sold to a new owner. Autonomy and Control In a decentralized social network, the community governs itself in the management of the platform and their content. Decentralized social networks give users more control and autonomy. Benefits include censorship resistance, ownership over personal data, and improved control over user-generated content. This means no one else, whether a corporation or site administrator, can make modifications to or remove content created by users. Ownership Protection From a copyright perspective, the content creator who took the photo on social media will continue to be the rightful owner, and maintain exclusive rights to control the use of the work. Social media users who post any form of content, from digital art to photos to music can go through a process of “minting” their own work, assigning it an NFT value and thus making it one-of-a-kind, where its originality can be verified through the NFT source code. This is a solution to a problem where on current social networks, content creators are facing a value-loss of their content caused by streaming and digital reproductive commodification. NFTs can authenticate a digital creation. The immutability of blockchain, preventing the digital file from being faked, forged, or replicated, is one of the main selling points of the technology. Who Benefits from NFT-based Social Media Platforms? Influencers Influencers play a vital role in the social media landscape, with millions of followers and the power to sway the next trend, brands are always looking to engage them. Through photos, clips and tweets, they are a marketing channel on their own, advertising and influencing the next big idea into the minds of their communities. In current social media platforms, influencers struggle to monetize their content if their post is not sponsored or an advertisement, which audiences are usually not very receptive to. NFT-based social networks allow influencers to build better connections with their audience in a peer-to-peer way, and deliver content that they are looking for. This new type of social media platforms will allow influencers to creatively respond to fan requests by converting memorable photos into digital collectibles that can be acquired by followers, forging a deeper, tangible connection in what was previously unattainable. Digital Artists Digital artists constantly face the problem of having their work stolen, copied and used without permission online. NFT-based social networks will work in their favour for copyrighting of their original work. Today, the art market remains a largely unregulated field. Collectors, auction houses and galleries who have access to information about who owns what artwork, its sale price, etc. profit from their position, while those with the least access to such information, artists are typically left at the mercy of third-party agents. NFT platforms will improve the ease of transferring digital creative assets, and information of authentication can be easily accessed on blockchain explorer. NFTs can be sold on any NFT marketplace or via a peer-to-peer method without the need for an intermediary, rather than being restricted to the use of third-party platforms to distribute content. This allows the artists to connect directly with the audiences. Artists can also retain ownership of their work forever by implementing royalties. In contrast from the traditional art world, where most artists get no money from the resale of their work, even when the value has doubled or tripled. Brands NFTs provide an exciting opportunity for the brands as well. They present opportunities for brand owners in both digital and physical markets as they have potential usefulness not only in association with digital images but also for physical products. With NFT-focused social media the brands can create unique brand experiences, increase brand awareness, encourage interaction as well as help to increase conversion and drive revenue. For example, the end-users of fashion brands can verify the information regarding the ownership of all the items and accessories which reduces the risks of frauds. Through NFT-based social networks the brands can create engaging digital art assets and give the ownership rights of these collectibles as part of promotional campaigns which will bring the customers closer to the brand and attract a new clientele. NFTs Will Continue to Disrupt Various Industries There is no doubt that NFTs will continue to disrupt multiple industries in one way or the other, social media is just one of them. Global companies are taking a serious look at NFT and blockchain technology to streamline many of their current business processes. However, the balance does seem to be shifting as NFT-based social platforms solving many of the issues traditional social networks have from the perspective of users as well as business. The relationship between social media, blockchain and NFTs will continue to evolve. If you would like to find out more about how to create digital content with NFTs or launch an NFT marketplace, simply click here to schedule a consultation with our blockchain advisors to find out more.

One contributing factor to volatility is that the crypto markets have an abundance of whales – a term given to someone who holds a significant amount of a particular asset; someone who holds a minimum of 1,000 Bitcoin is considered to be a whale

Capturing memory has always been on a constant evolution, with people finding ways to make it more instant, accurate, and indestructible through the test of time and weather. NFTs as memories is the modern day's era of capturing memories, taking these aspects to a whole new level through blockchain technology.

What exactly is an NFT and why did one just sell for US $69 million dollars? What are NFTs and how they work explained.

The success of Bitcoin and Ethereum alone is not enough to make crypto mainstream. Exchanges must evolve to the next phase of maturity through sophisticated trading technology for altcoins.

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Following a successful iFX Expo International 2022 in Limassol, Cyprus, Broctagon Fintech Group will be back at the largest B2B financial expo at its next installation in Bangkok, Thailand. iFX Expo Asia 2022 will be held from 13-15 September, taking place in Bangkok for the very first time.

The Broctagon Prime team is happy to be back at iFX Expo Cyprus from 7th to 9th June 2022, widely regarded as one of the world's biggest financial enterprise conferences.

Broctagon Prime will be among the top experts in the fintech industry at the upcoming iFX Expo Cyprus 2022, the largest B2B Financial Expo, held at Palais des Sports - Spyros Kyprianou, Limassol. From 7th to 9th June, we'll be at Booth 75 to share with you about our top-notch trading solutions and first-rate institutional liquidity products.

Broctagon Fintech Group was recently awarded 'Best Crypto Liquidity Solutions' at the Crypto Expo Dubai 2022, as a recognition for our newly-upgraded product, the NEXUS 2.0 Crypto Liquidity Hub. Held at Dubai Festival City from 16 -17 March, more than 100+ crypto companies gathered at the premier cryptocurrency event.

Broctagon Fintech Group is proud to be the Gold Sponsor for the upcoming Crypto Expo Dubai 2022! Join us at Booth 84 in the expo held from 16 -17 March, where more than 3000+ investors will congregate for this annual event. 

Broctagon Prime participated at the iFX EXPO Dubai, one of our first events in 2022. Held at Dubai’s World Trade Centre from 22nd – 24th February 2022, the 3-day event presented over 60+ speakers on its agenda, with its title as the largest global fintech B2B exhibition.

Broctagon Prime will be at the iFX Expo hosted in the Dubai World Trade Center, 22-24 February. Meet us at Booth 106 to find out about the most competitive liquidity products for your brokerage.

Since our last attendance at their virtual summit last year where we were awarded “Best Tailored Blockchain Solutions Provider”, we are excited to meet again in person our clients and future partners.

Broctagon participated in Labuan IBFC's CoDE Asia 2021 on Thursday, 21 October 2021. Growing into its third edition, CoDE Asia 2021 is themed "Future Forward: Next Gen Digital Ecosystems”. Representing Broctagon was Cecilia Chan, our Head of Liquidity (Asia) and Executive Director. With 22 years in the financial industry, Cecilia was the former Vice President at Singapore Exchange and a Senior Manager in Exchange & Regulatory relations at Hang Seng Indexes. On Recent Trends  Cecilia pointed out that within the digitalisation space, the most interesting aspect of digitalisation in recent times would be digital currencies issued by the central bank. As Decentralised Finance (DeFi) continues to grow, central banks want to be more involved in the process. Cecilia explained that we are more familiar with central bank money because it’s safe, liquid, and has integrity - given that context, central banks have to evolve to suit the digitalisation aspect of the economy. The Advantages of Digital Currencies  Cecilia shared that digital currency allows for better cross-border payments at a lower cost. This improves efficiency across borders, leading to faster settlements, making payment less of a hassle for retail and consumers.  The Future and the Now Cecelia expresses that here at Broctagon, we stay ahead of the game by trying to foresee what the market needs before the problem arises. As a tech solutions provider the specialises in Fintech, we are actuely aware of the issues that plague it, such as the problem of fragmented liquidity that the crypto market faces as a whole. Liquidity in crypto, for example, is concentrated in the top 3% of crypto exchanges, accounting for less than 25% of trading volume - not including the OTC desk and P2P aspects In light of this, we want to create awareness and inclusion of digital assets for mainstream adoption. AUM growth in crypto has tripled from 2020 to 2021, so we want to create solutions to cater to the institutional crowd and address liquidity as it continues to be a big problem in the institutional space.  Staying Relevant Cecilia explained that the beauty of DeFi is its ability to skip through all the intermediaries, allowing their users to go straight to the source without any intervention. Regulators know that DeFi will continue to evolve given this, and they are now starting to establish regulations in the DeFi space. As regulators, they are bound to keep in check investor and consumer interests and are unable to sit out this process as the welfare of their citizens are at stake.  While they explore this space, they are trying to navigate and create guidelines. Yet because the industry is so borderless, it is very difficult for them to work with one another. The lack of a single framework makes it more difficult for regulators to transverse the crypto landscape.

What exactly is an NFT and why did one just sell for US $69 million dollars? What are NFTs and how they work explained.

With emerging technologies, STP is now made possible for crypto exchanges, adding on to the existing market making models. Let's examine how each model works and the role it plays.

Public, private, permissioned, Bitcoin, Ethereum protocols, and more – it might seem really daunting on how to choose the right blockchain for your business.

Many investors and traders are familiar with the idea of trading cryptocurrencies. While crypto spot trading has been more prevalent, crypto CFDs have also emerged with growing popularity.

Smart Order Routing (SOR) is an automated order processing mechanism, designed to take the best available opportunity across a variety of different trading platforms. 

As a brokerage, offering multi-asset classes to your clients can bring you competitve advantage over other brokerages. Here are 5 key reasons.

Being a key essential to any Crypto Exchange, it is important to know what exactly Crypto Exchange Liquidity is and its importance, as well as the factors affecting it and how it can be measured.

Kick-starting your very own crypto exchange made simple with Broctagon's comprehensive guide, with just 3 main steps you need to keep in mind.

As companies compete for talent amidst a talent crunch, we spoke with Don Guo, CEO and Co-founder of the Broctagon Fintech Group to find out how Fintech companies are at the forefront of creating a workforce of the future and how they can gain an edge in the war for talent.

This article was first published here on Forkast Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether. Ripple, the San Francisco-based blockchain payments company currently embroiled in a lawsuit with the U.S. Securities and Exchange Commission, this week announced that it would be launching Ripple Liquidity Hub, which will allow enterprises to access and source liquidity from the broader crypto market for a range of cryptocurrencies including XRP, Bitcoin and Ethereum at what Ripple says would be the best possible prices to their customers. Liquidity, or the ease that an asset can be bought or sold at a stable price on a given market, plays a critical role in trading, particularly in the cryptocurrency market. There are currently over 600 cryptocurrency exchanges — big and small — and traders sometimes experience large price spreads between different platforms, especially for altcoins. “Ripple Liquidity Hub is a game-changer for enterprises who want to offer their customers the ability to buy, sell or hold digital assets,” Asheesh Birla, general manager of RippleNet at Ripple told Forkast.News in an email. With Ripple Liquidity Hub — to be launched in 2022 — enterprise customers will be able to use an API connection to access digital assets from a variety of global sources, including market makers, exchanges, over-the-counter (OTC) desks and, in the future, decentralized venues. “To put things into perspective, you can think of Liquidity Hub as an aggregator for various liquidity venues and individual assets, the way that Google Flights is for airlines and flights,” Birla said. At launch, Ripple Liquidity Hub will support XRP, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC), with availability varying by jurisdiction. Ripple plans to add other tokenized assets like non-fungible tokens (NFTs) and capabilities like staking and yield generation in the future, Birla said. “The lack of liquidity is the biggest issue that the industry faces. Cryptocurrencies remain extremely volatile, holding back their widespread adoption. Moreover, the current crypto-liquidity landscape is not friendly towards traditional financial institutions,” Don Guo, co-founder and CEO of Singapore-based Broctagon Fintech Group told Forkast.News in an email. “This aspect has, for the most part, acted as a barrier-to-entry for mainstream institutions, and has kept crypto a ‘fringe’ investment.” “The liquidity hub by Ripple is geared towards enabling such enterprises to easily and efficiently source digital assets from the broader crypto market which is needed,” Guo added. Broctagon, for example, is also trying to provide the industry with greater liquidity by aggregating quotes from top-tier crypto exchanges and making them directly accessible to the smaller exchange, Guo said. “A concerted industry effort and cooperation are needed to take crypto to its next stage of evolution.” XRP, the native digital asset on the XRP Ledger, is currently the seventh-largest cryptocurrency with a market cap of US$56 billion. Whether or not XRP should be deemed a security is also the billion-dollar question in the lawsuit that SEC filed last December against Ripple, which is currently in the discovery phase in federal court in New York. Unprecedented growth of RippleNet ODL According to Ripple’s Q3 2021 XRP Markets Report, Ripple saw unprecedented growth of its On-Demand Liquidity (ODL) service, which facilitates cross-border payments by using XRP as a bridge between two currencies. ODL transactions increased 130% quarter over quarter and transaction volume on RippleNet more than doubled since 2020. The ODL service is available in over 20 markets including Japan and the Middle East that launched this year. “We have been using the Ripple Liquidity Hub technology internally as part of our On-Demand Liquidity (ODL) service for nearly two years, sourcing XRP on-demand to power millions of transactions, worth billions of dollars,” Birla said. “In fact, customers who have witnessed the benefits of ODL first hand asked if we could help them source other digital assets.” Enterprises will not be required, unlike many other offerings, to pre-fund accounts for Liquidity Hub and can receive access to working capital through Ripple. Ripple is partnering with Coinme, a licensed cryptocurrency cash network in the United States, as its first partner for the product. “We have seen strong demand for a product like this in the market after the massive year that crypto has had,” Birla said. “Banks, financial institutions, and SMEs realize the opportunity to integrate crypto into their business but they aren’t necessarily experts in this space and they need support offering their customers the ability to easily buy, sell, and hold crypto assets. Ripple’s latest announcement comes as it expands the use cases for the XRP Ledger technology beyond digital payments and remittances to central bank digital currencies (CBDCs), tokenization, decentralized finance (DeFi) and NFTs. “In the future, every customer will join RippleNet with the same base service and a wallet designed to support both crypto and fiat,” according to a Ripple media release. “Customers will be able to use their Ripple-enabled wallet to custody anything that’s tokenized.” Judge orders Ripple to produce audio and video recordings of company meetings For now, however, the company is battling the SEC in heated litigation. In a ruling this week, U.S. Magistrate Judge Sarah Netburn ordered Ripple to search for and produce relevant audio and video recordings of its internal employee meetings, including “all-hands” meetings, town hall meetings and fireside chats, which the SEC contends “contain undisputedly relevant evidence.” “Ripple’s search of its recorded meetings has been inadequate under the circumstances,” said Netburn in a ruling this week. “While the Court recognizes that a human review of the recordings may be unreasonable, a reasonable search could include automated transcriptions of records (similar to the common technology used to transcribe voicemail messages) and the use of search terms.” Ripple earlier called the SEC’s request “disproportionate” and maintained that it had conducted a comprehensive and reasonable search for recordings. But the SEC challenged Ripple’s search, saying it was lacking and argued that the recordings “may reveal efforts Ripple took to increase or maintain XRP’s price or to create expectations of profits in potential XRP purchasers, both of which are relevant… to prove whether XRP was offered and sold as a security.” As Ripple has said that it has more than 4,000 recordings, the judge has ordered the parties to meet to narrow down the list to time periods  that are most likely to contain information relevant to the lawsuit. 

Owing to the country’s friendly regulatory environment with respect to financial markets, and fintech and blockchain within it, various other global cryptocurrency groups are expanding their presence in Singapore.

Article first published here in The Straits Times SINGAPORE - When the pandemic hit last year and left Mr Ng Yu Jie stuck at home without a job, a seemingly improbable solution popped into his head - dabble in cryptocurrency to generate some income. Mr Ng's first step was to invest $350 in Ripple (XRP) on trading platform Torque when each unit cost about 20 US cents or 27 Singapore cents. The price rose steadily to 60 US cents: "My $350 became $1,000 so I cashed out," recalled 26-year-old Mr Ng, who has a diploma in mechanical engineering and used to work as a guide for pub crawlers. "I saw an opportunity for passive income. I felt that the prices were quite stable and I could get some money without having to work for it. The greed in me grew and I wanted to put in more to get more returns." Mr Ng, who spends eight hours a day reading news about cryptocurrencies and analysing the prices of digital coins, opened more trading accounts with Torque and increased his investments over time to about $10,000. Torque was then suddenly shut in February and he was unable to withdraw his crypto assets, which had appreciated to about $20,000. "I felt that I should really use crypto to recover what I lost in Torque," Mr Ng said. "So in June, I opened an account with Binance and started trading with $2,000." In three months, he made a profit of $10,000 from crypto trading. "I feel that my strategy works, unless there is a change to the regulation, like MAS (Monetary Authority of Singapore) banning more platforms for Singapore users. Then I may need to start looking for a job," said Mr Ng. "For now, crypto trading is my main source of income. If I stop, my income will stop too." Mr Don Guo, co-founder and chief executive of fintech solutions provider Broctagon Fintech Group, has a different take on cryptocurrencies. Mr Don Guo does not view cryptocurrency tokens as a viable short-term investment product.ST PHOTO: CHONG JUN LIANG; Mr Guo, 37, bought 300 Ether (ETH) at US$700 each in 2017 - an outlay of US$210,000. "Over time, I did liquidate some of them and bought into some other altcoins and Bitcoin as well," said Mr Guo, who still has about 10 ETH. "It wasn't actually meant to be an investment at that point in time, even though there was a lot of speculation about how it could rise." Mr Guo had bought Ether to use for payments and business purposes and, even now, he does not view cryptocurrency tokens as a viable short-term investment product despite having benefited from the rise in value. "As we all know, most cryptocurrencies are rather volatile, and if you were to just jump in and out of it on every piece of information you get, you would be so busy. "I don't think many people can (do that), unless they are really professional traders." Mr Guo said he is mentally prepared to lose whatever he has put into cryptocurrency trading: "It's not money that I need to use for more important purposes, like to pay for my house or (sustain) my livelihood."

“While a huge driver of its growth, shib's status as a memecoin may very well also be its bane," said Don Guo, the chief executive of trading technology company Broctagon, said in emailed comments, adding he believes it's "impossible" that shiba inu could ever reach $1.

Article was first published here in The Financial Times Singapore’s cryptocurrencies approach shouldn’t be seen as controversial (“Singapore faces fight for Asia crypto crown”, Report, October 1). Recent regulatory clampdowns may have raised questions about Singapore’s open approach to crypto businesses, but the regulators here have got it right. Whether or not the region’s “big bet” pays off, banning cryptocurrency trading makes no sense. The industry remains a “wild west” because there is no consistency on standards to make it stable and secure for investors. Trading, in particular, remains fractured and illiquid, which contributes to the wild price swings. If it’s a matter of taking a balanced approach, the only way you can be sure you are getting it wrong is by banning them entirely. Financial authorities, such as those in China, have been all too quick to ban elements of crypto, which only puts investors at greater risk of fraud, such as initial coin offering scams. People will continue to use cryptocurrencies so this will only push activity underground or elsewhere. Just look at the number of start-ups and talent piling into the sector. The way we see it in Singapore, it is much better to find out how to solve these problems and benefit from being part of the crypto journey. Done correctly, regulation can be very productive and foster crypto development in a healthy way by working with the industry to improve standards and prevent illicit activity. Plenty of businesses out there want to help create that framework. It’s about time the US and other leading markets caught up and took steps to establishcollective frameworks so investors can operate safely and business can thrive. Increasingly, for Singapore, the financial competition in the region is a game of fintech innovation, so I don’t see how we could exclude cryptocurrencies. Our approach to crypto regulation has created an environment that fosters innovation while setting up frameworks for security and stability. Now that Singapore’s crypto start-ups are gaining momentum, its mainstream financial institutions are learning about the technology and global blockchain businesses are setting up in the region. Don GuoChief Executive, Broctagon Fintech Group, Singapore  

“Named the Boba Network, the project is a layer-2 solution that allows crypto to have payment processing speeds that rival payment heavyweights like Visa and Mastercard,” Don Guo, CEO of Broctagon, said. “Game-changers like these, much like the NEXUS WorldBook movement, which is an inter-exchange liquidity network for digital assets, can create greater visibility and trust for crypto as a whole.”

Growing attraction amongst Asia’s tech-savvy millennials, unbanked signify big alternative

Broctagon Fintech Group announced the launch of a global network of crypto liquidity providers on Tuesday, forming an aggregated liquidity pool. Dubbed WorldBook, it is a crypto Straight-Through Processing (STP) network and is aiming to standardize the crypto liquidity industry.

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