Blockchain
Largest Funding Round of Orfinex Raises 100 Million Dollars
Summary: Orfinex has established itself as a Global Financial Technology Service Provider and the latest financing of 100 million dollars has increased the company’s valuation by nearly 70% from the past year.
Kingstown, Saint Vincent and the Grenadines–(Newsfile Corp. – November 30, 2022) – Orfinex, a global provider of Forex Brokerage & Trading services, announces that it has closed its largest funding round to date bringing in $100 million in capital and $30 million in the past 18 months from seasoned Middle East investors.
The valuation of the business has shot up in recent months because of the recent monetary boost. This announcement comes on the heels of an all-time high in the stock market, with triple-digit YoY increases in active users, trade volumes, and revenues.
Group CEO of Orfinex, Ali Aziz Imailov, announced, “This fundraising campaign marks the beginning of the next step in Orfinex’s development as we continue to make a splash in the fintech industry. We are pleased to have backers from all over the world helping us to continue to grow.”
The company will continue to develop new capital in order to hire top talent and hasten the development of its proprietary trading technology to remain adaptable in a constantly evolving monetary and industrial environment. Orfinex aims to produce simple yet dynamic technology that allows clients to provide simple and straightforward package service for their back-end offerings. The corporation is committed to investing deeply in this vision, with funding from its talented workforce and state-of-the-art technology. Its services are expansive, and it aims to keep its position within the industry.
Orfinex’s revenues increased by 20% after it released many new products, including its new CRM and introducing broker and affiliate platform with a specialized partner portal that adds transparency and efficiency for partners, as well as the launch of the Orfinex Social Trading platform, where customers can copy or follow thousands of trading strategies provided by other traders. Orfinex was one of the first firms to offer trending products in the crypto market using MetaTrader 5, the seed culture of which fascinated traders and the public throughout 2019. Orfinex stays up to date on the latest trends, and remains committed to its vision: to continue to be visible for traders and investors in all aspects of their financial lives.
Orfinex has been developed as a Financial Technology service that provides suitable trading experiences to its clients. In the latest development, the company is introducing new Forex Broker services in Forex Expo Dubai that cater to the requirements of Islamic trading.
With the new advancement in the company, the media spoke with Ali Aziz Ismailov, Director of Orfinex. He dove into the company’s expansion and growing market footprint in the Middle East. Ali Aziz Ismailov explained the company’s growth in the Middle East and beyond. Orfinex has seen a significant increase in recent years thanks to its innovative approach to Forex trading and its commitment to providing its clients with satisfactory services.
Orfinex focuses on Islamic Trading Accounts. The company is pleased to offer a trading account tailored to Islamic traders. It features no swap fees or interest payments; this account can work for those who cannot earn or pay the interest due to religious beliefs.
The director of Orfinex also expressed his views about the expansionary plans in the works at Orfinex Capital and the company trying to expand its market footprint. The company’s recent partnership with The Forex Expo as a Gold Sponsor is further evidence of Orfinex’s growing reputation as a leading Forex broker.
In addition, Orfinex is adapting to this shifting landscape and staying ahead of the competition, considering the retail brokerage scene continues to evolve in 2022. Ali Aziz Ismailov explained by stating, “Since we ventured into the retail market in 2015, and rebranded our old Firm “OFTFX” into “Orfinex” in 2020, our growth has been steady and gradual. The company has been operational for 7 years, and in that time, it has managed to amass an impressive clientele.”
He further added, “The firm offers its clients a variety of services such as currency trading, CFD trading, and margin trading. What makes Orfinex stand out from other brokers is its commitment to providing a safe and secure environment for its clients to trade in.”
Consequently, Orfinex also facilitates its clients with reasonable pricing and convenient customer service. It has built a reputation amongst traders for being a reliable and trustworthy partner, which they mainly attributed to the word-of-mouth client references they get due to its accurate track record and customer service.
About the Company – Orfinex
Orfinex was established and regulated in 2015 and has emerged as a global Financial Technology services Foreign Exchange (Forex) and Contracts for Differences (CFD) broker. They deliver trading experiences to their clients according to their convenience.
Moreover, Orfinex keeps its clients updated through Orfinex Daily Financial News. MetaTrader mobile applications are available for iOS and Android devices and provide similar functionality to the desktop version. People can choose from MT4 or MT5 and get interactive quote charts, a complete set of trading orders, and analytical tools.
Orfinex
Media Details:
Noman Chaudhary
Company Name: Orfinex
Email Address: [email protected]
Website URL: https://orfinex.com/
Target Country: Middle East & Asia
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146216
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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