Retail brokers are missing out on stablecoins
Topping our weekly news roundup is a highlight of how brokers would be missing out on the stablecoin adoption race. While this fast-growing digital asset class could offer brokers faster funding, yield, and growth, most still hesitate over outdated fears and tech barriers.
Why have fewer retail brokerages centered stablecoins as the core of their offerings? Notably, stablecoins are gaining traction. Tether recently reported that over 109 million on-chain wallets hold USDT, with 54 million wallets holding over $0.01.
The remaining stablecoins (like USDC, DAI, and FDUSD) account for another 13.8 million wallets with significant balances.
Ripple’s acquisition of Hidden Road
Michael Higgins, International CEO of Hidden Road, shed more light on the recent $1.25 billion acquisition by Ripple, highlighting the strong demand for the company’s services and why the acquisition was timely.
“We are fortunate to have 20 times more demand for balance sheet than supply at Hidden Road,” Michael Higgins, International CEO of Hidden Road, told FinanceMagnates.com following the $1.25 billion acquisition by Ripple.
“By partnering with Ripple,” he added, “we can immediately solve the supply and demand issue for Hidden Road’s existing clients, expand our capacity to service our pipeline, and continue to scale.”
???? Here is the full speech of @MonicaLongSF about @Ripple acquiring Hidden Road for $1.25B????
How RLUSD will be used ?!
Will XRP be involved in this deal ?
Is volume on the XRPL going to explode ?
Check and repost the video guys ???? pic.twitter.com/knOQ1WP7aM— Arthur (@XrpArthur) April 8, 2025
NAGA buys TRADE.com UK
Still with business acquisitions and mergers, the UK division of broker TRADE.com sold its business to the publicly listed NAGA Group. The £1.24 million ($1.65 million) deal marked NAGA Group’s return to the UK.
Before the acquisition, TRADE.COM was in financial decline, with a nearly threefold decrease in revenue, rising administrative costs, and £346 thousand net loss.
In Australia, Axi, a contracts for differences (CFDs) broker in the retail space, lost its bid to acquire the Australian trading platform SelfWealth. SelfWealth is now set to be bought by Singapore-based investment platform Syfe in an AUD 65 million all-cash transaction.
Financemagnates.com earlier reported that Axi offered 23 cents per share to acquire SelfWealth, which would have made the deal worth AUD 52 million.
XTB expands beyond CFDs in France
Meanwhile, the publicly listed Polish fintech XTB added French PEA (Plan d’Épargne en Actions) accounts to its investment platform, marking another step in the company’s strategy to attract long-term investors across European markets.
The move follows similar launches of tax-advantaged accounts in Poland and the United Kingdom last year, as the company works to strengthen its position among more passive retail investors.
Is reducing spreads strategic?
According to easyMarkets CEO, Nikos Antoniades, although reducing spreads may impact revenue, it is actually strategic.
Nikos Antoniades
“As a market maker, spreads are a key part of our revenue model,” easyMarkets CEO Nikos Antoniades told financemagnates.com following his decision to reduce spreads by up to 25 per cent across instruments as part of its latest platform update.
He pointed out that “in the short term, reducing spreads will have a direct impact on revenue. But we see it as a strategic investment in our clients.”
Instant Funding starts its own CFD brokerage
In a move showing the expansion of prop trading into other sectors, including cryptocurrency and brokerage space, prop firm Instant Funding announced plans to launch its cryptocurrency platform, IF Crypto, next month.
The company is also revealing “IF Pro” as the name of its forthcoming brokerage service.
The company now joins the group of challenge-based retail trading companies that recently obtained licenses to operate contracts-for-difference (CFD) businesses in the rather exotic location of Saint Lucia.
In the US, the Commodity Futures Trading Commission (CFTC) is seeking public comments on allowing round-the-clock derivatives trading and input on perpetual futures offerings. Perpetual futures are contracts without any expiry.
Revolut adds 15 million users in a year
Elsewhere, digital banking giant Revolut reported a 149% jump in profit before tax to $1.4 billion (£1.1 billion) for 2024, marking its fourth consecutive year of profitability as the company continues its aggressive global expansion.
The London-based fintech saw its customer base grow by 38% to 52.5 million users worldwide, while total customer balances increased 66% to $38 billion (£30 billion). Group revenue surged 72% to $4 billion (£3.1 billion) compared to $2.2 billion in 2023, with net profit reaching $1 billion (£790 million).
Elon Musk to scale back DOGE role
Faced with a 71% drop in Tesla’s Q1 profits, Musk announced reduced involvement in the Department of Government Efficiency (DOGE) to refocus on Tesla’s operations.
Elon Musk has announced a significant reduction in his involvement with the Department of Government Efficiency (DOGE), a federal initiative aimed at streamlining government operations.
https://t.co/9ANjNT4QGt pic.twitter.com/6y5nDVVMI1
— Eric Trump (@EricTrump) April 24, 2025
Will Trump run in 2028? In a move that’s surely meant to inspire equal parts terror and confusion, Donald Trump’s online store recently began selling “Trump 2028” merch, fueling rumors that the former president is testing the waters for yet another run.
Reimbursement delays are draining UK employees
Lastly, a recent Airwallex report reveals how outdated reimbursement processes are creating financial stress, lowering morale, and driving talent away, while modern solutions could end the cycle.
For many UK employees, managing work-related expenses isn’t just a minor administrative task, it’s a hidden financial strain that steadily chips away at their personal finances and emotional well-being. A recent report by Airwallex exposes just how widespread and damaging this issue has become in today’s workforce.
Retail brokers are missing out on stablecoins
Topping our weekly news roundup is a highlight of how brokers would be missing out on the stablecoin adoption race. While this fast-growing digital asset class could offer brokers faster funding, yield, and growth, most still hesitate over outdated fears and tech barriers.
Why have fewer retail brokerages centered stablecoins as the core of their offerings? Notably, stablecoins are gaining traction. Tether recently reported that over 109 million on-chain wallets hold USDT, with 54 million wallets holding over $0.01.
The remaining stablecoins (like USDC, DAI, and FDUSD) account for another 13.8 million wallets with significant balances.
Ripple’s acquisition of Hidden Road
Michael Higgins, International CEO of Hidden Road, shed more light on the recent $1.25 billion acquisition by Ripple, highlighting the strong demand for the company’s services and why the acquisition was timely.
“We are fortunate to have 20 times more demand for balance sheet than supply at Hidden Road,” Michael Higgins, International CEO of Hidden Road, told FinanceMagnates.com following the $1.25 billion acquisition by Ripple.
“By partnering with Ripple,” he added, “we can immediately solve the supply and demand issue for Hidden Road’s existing clients, expand our capacity to service our pipeline, and continue to scale.”
???? Here is the full speech of @MonicaLongSF about @Ripple acquiring Hidden Road for $1.25B????
How RLUSD will be used ?!
Will XRP be involved in this deal ?
Is volume on the XRPL going to explode ?
Check and repost the video guys ???? pic.twitter.com/knOQ1WP7aM— Arthur (@XrpArthur) April 8, 2025
NAGA buys TRADE.com UK
Still with business acquisitions and mergers, the UK division of broker TRADE.com sold its business to the publicly listed NAGA Group. The £1.24 million ($1.65 million) deal marked NAGA Group’s return to the UK.
Before the acquisition, TRADE.COM was in financial decline, with a nearly threefold decrease in revenue, rising administrative costs, and £346 thousand net loss.
In Australia, Axi, a contracts for differences (CFDs) broker in the retail space, lost its bid to acquire the Australian trading platform SelfWealth. SelfWealth is now set to be bought by Singapore-based investment platform Syfe in an AUD 65 million all-cash transaction.
Financemagnates.com earlier reported that Axi offered 23 cents per share to acquire SelfWealth, which would have made the deal worth AUD 52 million.
XTB expands beyond CFDs in France
Meanwhile, the publicly listed Polish fintech XTB added French PEA (Plan d’Épargne en Actions) accounts to its investment platform, marking another step in the company’s strategy to attract long-term investors across European markets.
The move follows similar launches of tax-advantaged accounts in Poland and the United Kingdom last year, as the company works to strengthen its position among more passive retail investors.
Is reducing spreads strategic?
According to easyMarkets CEO, Nikos Antoniades, although reducing spreads may impact revenue, it is actually strategic.
Nikos Antoniades
“As a market maker, spreads are a key part of our revenue model,” easyMarkets CEO Nikos Antoniades told financemagnates.com following his decision to reduce spreads by up to 25 per cent across instruments as part of its latest platform update.
He pointed out that “in the short term, reducing spreads will have a direct impact on revenue. But we see it as a strategic investment in our clients.”
Instant Funding starts its own CFD brokerage
In a move showing the expansion of prop trading into other sectors, including cryptocurrency and brokerage space, prop firm Instant Funding announced plans to launch its cryptocurrency platform, IF Crypto, next month.
The company is also revealing “IF Pro” as the name of its forthcoming brokerage service.
The company now joins the group of challenge-based retail trading companies that recently obtained licenses to operate contracts-for-difference (CFD) businesses in the rather exotic location of Saint Lucia.
In the US, the Commodity Futures Trading Commission (CFTC) is seeking public comments on allowing round-the-clock derivatives trading and input on perpetual futures offerings. Perpetual futures are contracts without any expiry.
Revolut adds 15 million users in a year
Elsewhere, digital banking giant Revolut reported a 149% jump in profit before tax to $1.4 billion (£1.1 billion) for 2024, marking its fourth consecutive year of profitability as the company continues its aggressive global expansion.
The London-based fintech saw its customer base grow by 38% to 52.5 million users worldwide, while total customer balances increased 66% to $38 billion (£30 billion). Group revenue surged 72% to $4 billion (£3.1 billion) compared to $2.2 billion in 2023, with net profit reaching $1 billion (£790 million).
Elon Musk to scale back DOGE role
Faced with a 71% drop in Tesla’s Q1 profits, Musk announced reduced involvement in the Department of Government Efficiency (DOGE) to refocus on Tesla’s operations.
Elon Musk has announced a significant reduction in his involvement with the Department of Government Efficiency (DOGE), a federal initiative aimed at streamlining government operations.
https://t.co/9ANjNT4QGt pic.twitter.com/6y5nDVVMI1
— Eric Trump (@EricTrump) April 24, 2025
Will Trump run in 2028? In a move that’s surely meant to inspire equal parts terror and confusion, Donald Trump’s online store recently began selling “Trump 2028” merch, fueling rumors that the former president is testing the waters for yet another run.
Reimbursement delays are draining UK employees
Lastly, a recent Airwallex report reveals how outdated reimbursement processes are creating financial stress, lowering morale, and driving talent away, while modern solutions could end the cycle.
For many UK employees, managing work-related expenses isn’t just a minor administrative task, it’s a hidden financial strain that steadily chips away at their personal finances and emotional well-being. A recent report by Airwallex exposes just how widespread and damaging this issue has become in today’s workforce.
Read More
Jared Kirui