Welcome to this week’s Market Roundup, where we take a look at the latest developments in foreign exchange, finance and crypto. This edition explores the growing trend of tokenization in the FX industry, with insights from industry leaders. We also cover NAGA’s new campaign with Mike Tyson, TP ICAP’s revenue surge, and a host of notable milestones, from CMC Invest’s anniversary in Singapore to Morgan Stanley’s expansion into the China market. In crypto, regulatory warnings and increasing market activity signal a dynamic month, capped by $5.19 trillion in trading volume in October. Stay tuned for a roundup of the week’s most important trends and news.

Foreign exchange markets

To tokenize or not to tokenize FX

Alex Knight, Head of EMEA at Baton Systems, offered a grounded perspective on the complexities of integrating tokenized assets into FX and payment flows. Learn more

NAGA Releases Humorous Ad With Brand Ambassador Mike Tyson

NAGA has announced the launch of a “Your Go-To App for All Money” campaign featuring Mike Tyson, who has been signed as a brand ambassador. Learn more

TP ICAP Sees Revenue Rise, Considers U.S. Listing for Its Data Unit

British interdealer broker TP ICAP reported a solid 10% increase in revenue in the third quarter, driven by strong growth in its Global Broking and Liquidnet divisions. Learn more

CMC Invest Singapore celebrates significant growth on its first anniversary

CMC Invest celebrates the first anniversary of its official launch in Singapore by reflecting on a year of empowering the local community through financial education and extending its partnership with track and field sprinter Shanti Pereira as brand ambassador for 2025. Learn more

IBKR ForecastTrader Shows Trump Leads Harris in US Election Deals

Interactive Brokers (Nasdaq: IBKR) said its ForecastTrader platform has been quite active since it launched prediction markets for the 2024 US presidential election on October 4. Learn more

Capital.com says index trading accounts for 53% of total volume

Capital.com reported total customer transaction volume of over $450 billion in Q3 2024, representing a 20% increase from Q2 2024. Learn more

ATFX Connect and Your Bourse improve FX and CFD liquidity management for brokers

ATFX Connect leveraged Your Bourse’s Platform-as-a-Service solutions for FX and CFD liquidity management to improve liquidity options for brokers. Learn more

Morgan Stanley Obtains Approval to Launch Futures Business in China

Morgan Stanley has received regulatory approval to establish a futures business in China, becoming the second major U.S. bank to enter the country’s growing derivatives market. Learn more

FMLS 2024: Andrea Badiola Mateos talks new networking opportunities and more

Nikolai Isayev, Editor-in-Chief of FinanceFeeds, spoke with Andrea Badiola Mateos, Chief Commercial Officer of Finance Magnates, for an exclusive preview of the upcoming conference. Learn more

Catch Up on Weekly Cryptocurrency

Poland Reports Crypto.com for Suspected Unauthorized Activities

The Polish Financial Supervisory Authority (KNF) has issued a public warning regarding Foris DAX MT, the Malta-based company operating under the Crypto.com brand, citing concerns over unauthorized financial activities in Poland. Learn more

Justin Sun claims Coinbase asked for $80 million in TRX and $250 million in BTC for listing

Crypto industry figures Justin Sun and Andre Cronje recently disputed Coinbase CEO Brian Armstrong’s claim that asset listings on Coinbase are free, sparking a debate over listing practices of the stock market. Learn more

Boerse Stuttgart Digital chooses Fenergo for customer onboarding

Boerse Stuttgart Digital has partnered with Fenergo, a provider of AI-driven KYC, customer lifecycle management and transaction monitoring solutions, to accelerate the onboarding of banks, brokers and asset managers assets that are launching their own crypto offerings. Learn more

OpenSea plans return with new platform as NFT trading sinks

Faced with a sharp drop in NFT transaction volumes, is preparing to launch a revamped platform in December to regain its position in the market. Learn more

Hamster Kombat sees user numbers drop 86% as rival Paws Mini gains ground

Once a popular “tap to win” game on Telegram, Hamster Kombat has seen a dramatic decline in user engagement, with its monthly active users dropping from 300 million in August to just 41 million as of November 5, a decrease of 86 % . Learn more

Robinhood, Kraken and Galaxy launch USDG stablecoin via Paxos

A consortium of fintech and cryptocurrency companies, including Robinhood, Kraken and Galaxy Digital, introduced a new US dollar-pegged stablecoin, USDG, on Monday. Learn more

October sees $5.19 trillion in crypto transactions as Bitcoin hits $75,000

October was a remarkable month in the world of cryptocurrencies, with combined spot and derivatives trading volume on centralized exchanges up 19% to $5.19 trillion. Learn more

French gambling regulator could ban crypto platform Polymarket

The National Gaming Authority (ANJ) is reportedly considering banning predictions platform Polymarket due to potential violations of French gaming laws. Learn more