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Edinburgh Reporter
4 hours ago
- Business
- Edinburgh Reporter
Why Multi-Currency Payments Are Critical for Forex Brokers
As the world's financial markets become more connected, the forex market is known to be the most active and liquid worldwide. Since trillions are being traded each day in international markets, forex brokers assist clients from all over the world. Connecting consumers to different types of currency payments and forex broker payment solutions is one of the necessary features brokers should provide. In the brokerage industry, easily supporting multiple currencies is now essential for success, as incompetence in this area can stop a company from growing. Freepik The Global Reach of Forex Trading Forex trading is a truly international activity that requires FX payment solutions. Markets in Asia, Europe, the Americas, Africa, and the Middle East see trading activity happen at the same time, although it may involve different times and systems. A trader living in Japan can select EUR/USD as their trade, but a trader from Brazil may instead pick GBP/JPY. Brokers involved in this market must be able to handle and exchange payments made in a variety of global currencies. Using multiple currencies in payments is made valuable by their global reach. Expanding into new markets by winning clients in several regions. It's easy to transfer money with few hidden conversion costs. Inclusive trading platforms for countries in developed and emerging regions. More efficient joining by including local payment choices and currencies. Enhancing Trader Convenience Whenever things move quickly in the market, organizations have to manage manual fund conversions or delays from non-compatible currencies, which can be risky. Thanks to forex broker payment solutions, traders are able to deposit and withdraw their funds in currencies that suit them, simplifying the whole process. How multi-currency payment systems, such as PayDo, make trading easier for traders: Get rid of having to convert money yourself. Lower your chances of facing exchange rate problems and surprise costs. Speed up the process of both sending and receiving funds. Help users by giving them options to pay that they are familiar with in these regions. Boosting Operational Efficiency for Brokers A broker can greatly improve their operational efficiency by adopting a multi-currency payment system. Account management, settling payments, and reconciling finances are less complicated when clients can choose their own currencies. Brokers cannot easily convert foreign currency transactions at the best time, which increases risks, unforeseen losses, and makes their jobs more difficult. There are several reasons brokers can gain from using BaaS: You'll find accounting and reconciliation to be more user-friendly. Greater use of automation in the financial department. Reduced expenses in operations management. The ability to keep up as the client base expands around the world. Freepik Building Trust and Credibility A strong financial relationship is only possible if trust exists. If clients notice a broker displays transparent prices in their currency and accepts payments from local options, it shows the firm cares about its clientele. By contrast, making users use a foreign currency for forex brokers' global payments can cause them to worry about extra costs, inadequate supervision, and protection of their funds. How multi-currency support helps earn trust: Money is handled more securely and honestly in a local currency. Following the rules of your local financial market makes you look more trustworthy. Removes hesitation by re-enabling some lost conversions. Signals explain why the broker offers services tailored to the area. Supporting Global Market Expansion If brokers want to expand worldwide, they need to make sure their services match the needs of regional areas. While localizing, ensuring compliance, and respecting culture are part of the strategy, being compatible with worldwide currencies is too. Adding multi-currency transactions for forex brokers' global payments paves the way for more people to start forex trading. What makes multi-currency support important when expanding? How straightforward it is to launch services in different geographical areas. Makes it possible for people using other currencies to take part in forex trading. Allows regional promotion of bonuses that can be used with the local currency. Supports agreements between the platform and nearby payment services as well as banks. Overcoming Regulatory and Technical Challenges Rules for financial operations differ greatly by country, especially when it comes to international business, fighting money laundering, and verifying customers' identities. The worldwide yearly cost of data breaches has risen to $4.45 million. Brokers have the responsibility to obey all the regulations in all locations where they conduct business. Matters that should be regarded: Moving through complicated international rules. Making sure that AML/KYC rules are followed in all countries in which we operate. Compatibility with reliable, capable payment gateways. Ensure information security and make all transactions clear and easy to view. Because of new technology in finance, brokers can now use multiple currency forex accounts for their transactions. Strategic connections to major payment processors, using APIs and automated compliance tools, enable brokers to pass these barriers and access additional revenue. Key Takeaway Having several currency payment options is now a main requirement for forex brokers, not just a convenient extra. Since they make it easier for traders and ensure efficiency, they also support going global and help build trust among users. Adopting multi-currency payments lets forex brokers: Attract clients from all over the world and ensure they want to stay. Improve your efficiency by using automated financial systems that provide accuracy. Improve trust by making financial services open and accessible to everyone at the local level. Go ahead and expand your business into unfamiliar markets. In the end, adding multiple currency forex accounts is not only technical—it helps ensure smooth, professional, and inclusive trading worldwide. Like this: Like Related
CairoScene
6 hours ago
- Business
- CairoScene
EUR 100 Million Debt Swap With Germany to Fund Projects in Egypt
The total volume of German debt allocated for conversion now exceeds EUR 340 million, with key focus areas including healthcare, vocational education, and climate-oriented initiatives. Jul 23, 2025 Egypt is moving forward with the second phase of its debt swap agreement with Germany, converting EUR 100 million into development investments. Half of the amount is set to be channelled into projects by the end of this year, with the remainder to follow by June 2026. The update was shared by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, who noted that the total volume of German debt allocated for conversion now exceeds EUR 340 million, with key focus areas including healthcare, vocational education, and climate-oriented initiatives. The debt swap programme is structured so that project ownership remains entirely with Egypt, and each initiative is selected to match national development priorities. German-Egyptian cooperation spans beyond this programme, with Germany maintaining investment and trade links that include more than 1,400 German companies active in the country and bilateral trade exceeding EUR 7 billion. Debt swaps, used globally, allow countries to redirect foreign debt payments into domestic investments, often in partnership with donor governments. Egypt and Germany have maintained similar agreements since the early 2000s.
Finextra
7 hours ago
- Business
- Finextra
Bitget Wallet partners MoonPay for stablecoin-to-fiat offramp
Bitget Wallet has partnered MoonPay to launch a fiat withdrawal feature that allows users to convert stablecoins directly into cash. 0 Through MoonPay, Bitget Wallet users can now sell USDT and USDC stablecoins for more than 25 fiat currencies, including USD, EUR and GBP, without having to go through centralised exchanges. Accessible via Bitget Wallet's "Sell Crypto" page, users in eligible countries can select their token and preferred fiat currency before completing the transaction via MoonPay's platform. As part of the process, users complete identity verification and select their withdrawal method through MoonPay. Supported payout options include Apple Pay and debit or credit cards via Visa and Mastercard. Jamie Elkaleh, CMO, Bitget Wallet, says: "This launch advances our Crypto for Everyone vision, making it easy for users to enter, use, and exit crypto while maintaining control of their assets."
Yahoo
9 hours ago
- Business
- Yahoo
Dollar Falls due to Lower T-note Yields
The dollar index (DXY00) on Tuesday fell by -0.47% and posted a 1.5-week low. The dollar was under pressure Tuesday from lower T-note yields. Losses in the dollar accelerated after the US July Richmond Fed manufacturing index unexpectedly fell to an 11-month low. The dollar found some underlying support Tuesday on comments from Treasury Secretary Bessent, who said, 'he sees no reason for Fed Chair Powell to step down right now.' The dollar has been under pressure due to concern President Trump might fire Powell, which could prompt foreign investors to shun dollar assets over questions of the Fed's independence. More News from Barchart Dollar Falls as Stocks Rally and T-note Yields Decline Dollar Slips Due to Strength in Stocks and Lower T-note Yields Dollar Weakens and Gold Rallies as T-note Yields Slide Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. The US July Richmond Fed manufacturing survey of current conditions index unexpectedly fell -12 to an 11-month low of -20, weaker than expectations of an increase to -2. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 5% at the July 29-30 FOMC meeting and 58% at the following meeting on September 16-17. EUR/USD (^EURUSD) Tuesday rose by +0.47% and posted a 2-week high. Dollar weakness on Tuesday boosted the euro. The euro also has support on expectations that the ECB will keep interest rates unchanged at Thursday's policy meeting. Gains in the euro were limited after Tuesday's quarterly Bank Lending Survey from the ECB said that loan demand remained weak, a dovish factor for ECB policy and negative for the euro. The euro is also under pressure on concerns that President Trump is pushing for a minimum tariff of 15%-20% in any trade deal with the European Union (EU), as Mr. Trump has remained unmoved by the latest EU offer to reduce car tariffs. Higher tariff rates on EU goods could undercut the Eurozone economy, a bearish factor for the euro. The ECB's quarterly Bank Lending Survey stated that 'Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions, and while lenders saw a slight net increase in loan demand in Q2, the uptake remained weak overall.' Swaps are pricing in a 2% chance of a -25 bp rate cut by the ECB at Thursday's policy meeting. USD/JPY (^USDJPY) Tuesday fell by -0.58%. The yen recovered from overnight losses and climbed to a 1-week high against the dollar Tuesday after T-note yields fell when Treasury Secretary Bessent said 'he sees no reason for Fed Chair Powell to step down right now.' The yen initially moved lower Tuesday after Bloomberg reported that BOJ policymakers will likely keep the policy rate at 0.5% at next week's BOJ meeting. The upside in the yen in the near term may be limited due to concerns that the LDP's loss of its majority in Japan's upper house in Sunday's elections may lead to fiscal deterioration in Japan's government finances, as the government boosts spending and implements tax cuts. A report from Bloomberg said that Bank of Japan (BOJ) officials see little need to shift their policy stance of gradually raising interest rates after Prime Minister Ishiba's election setback and that policymakers will likely keep the policy rate at 0.5% at next week's BOJ meeting. Policymakers also want to see how any trade deal between Japan and the US affects the inflation trend and the economy going forward before raising rates again. August gold (GCQ25) Tuesday closed up +37.30 (+1.09%), and September silver (SIU25) closed up +0.221 (+0.56%). Precious metals settled higher on Tuesday, with gold climbing to a 5-week high, Sep silver posting a contract high, and nearest-futures (N25) silver posting a nearly 14-year high. Tuesday's fall in the dollar index to a 1.5-week low was bullish for metals prices. Also, lower global bond yields on Tuesday were supportive for precious metals. In addition, precious metals garnered support from today's ECB quarterly Bank Lending Survey, which said loan demand remained weak in Q2, a dovish factor for ECB policy. Finally, precious metals have safe-haven support from global trade tensions, following President Trump's announcement last Wednesday that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. Fund buying of gold continues to support prices after gold holdings in ETFs rose to a nearly 2-year high Monday. Silver prices were undercut Tuesday after the US July Richmond Fed manufacturing index unexpectedly fell to an 11-month low, a negative factor for industrial metals demand. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
The Market Online
21 hours ago
- Business
- The Market Online
Top CEO warns of global economic crisis – Secure your portfolio now: Nel, Evonik, Dryden Gold
These are words that raise concern: Evonik CEO Christian Kullmann believes that the global economy is on the brink of an economic crisis due to constant tariff threats. The CEO is calling for greater economic freedom for companies in Germany, as investment is urgently needed after years of stagnation. Although Kullmann ends the interview on a hopeful note, the situation remains uncertain. We explain how investors can navigate this uncertainty and present stocks with promising prospects. This article is disseminated in partnership with Apaton Finance GmbH. It is intended to inform investors and should not be taken as a recommendation or financial advice. Evonik: The figures are still good It comes as no surprise that the CEO of specialty chemicals supplier Evonik is warning of a global economic crisis. The chemical industry is considered energy-intensive and is therefore under pressure from foreign competition. Although analysts have also expressed positive opinions in recent months, industry experts point to short-term pressures on Evonik's business. In the first quarter, EBITDA climbed 7% to EUR 560 million, while revenue remained stable at around EUR 3.78 billion. However, the stock market is anticipating the future and is therefore taking a wait-and-see approach: Over a six-month period, Evonik's share price has hardly moved forward, and in the longer term, the share price is even down. NEL calls for protectionism – Evonik CEO Kullmann calls for investment While Evonik is under immediate pressure to actively tackle its transformation and face up to the new realities, NEL shares were considered an exciting bet on the future just a few years ago. However, this bet did not pay off – although NEL gained 16.7% on the stock market over a six-month period, the long-term picture is disastrous: in the last five years alone, the share price has fallen by 88%. The Norwegian company supplies electrolyzers for the production of green hydrogen and also handles logistics and storage of hydrogen. In the past, NEL has delivered several hydrogen filling stations. The Company is benefiting from the European Green Deal, but is also under pressure. Competition is growing, especially in China. NEL itself emphasizes that soon less than half of the hydrogen projects funded by the EU will actually use technology manufactured in Europe. NEL is calling for more protectionism, such as origin criteria for electrolyzers and other hydrogen infrastructure. Whether protectionism really is the answer to low competitiveness remains to be seen. Although Chinese suppliers are likely to benefit from subsidies, the question must be asked whether the European hydrogen industry can win the race against China. This general uncertainty is hindering the investments that are so crucial at present, and at the same time, it is ensuring that the long-term chances for a successful transformation are dwindling. In his interview with Handelsblatt, Evonik CEO Kullmann points to Germany's financial reserves and opportunities to turn the tide after all. For Kullmann, economic power and military strength are crucial. These strengths must be developed. Since the associated investments will be financed by loans, the alternative currency gold is also coming into focus. Dryden Gold: Promising project in Canada benefits from rising gold prices When the world found itself with its back against the wall after the outbreak of the pandemic and central banks and governments around the world spent billions, the price of gold also skyrocketed, reaching a new all-time high in the summer of 2020. Today, gold is trading significantly higher. The prospect of further government spending and the ongoing uncertainty continue to support the gold price. In the first half of 2025 alone, the gold price rose by around 25%. One asset class that can benefit particularly during challenging phases is that of early-stage project developers. One such company is the Canadian company Dryden Gold (TSXV:DRY). Dryden Gold controls 70,250 ha in the Dryden Gold Belt in the Canadian province of Ontario. The flagship Gold Rock project is a historic brownfield site – an area that has already been explored. This offers advantages for future work, as certain data is already available and supplementary exploration can be carried out. In June, the Company reported visible gold deposits in two parallel structures. When gold is visible to the naked eye, it is an indication of high-grade deposits that are very likely to be economically viable. After the drill results were published, Dryden CEO Trey Wasser drew comparisons to the Red Lake Mine in Ontario, which was considered one of the largest mines in the world for many years. Analysts see more than 100% potential here These key figures also convinced the market in the spring and early summer – Dryden Gold's share price climbed from around CAD 0.10 at the end of March to its current level of CAD 0.25. The market capitalization is thus around CAD 30 million. According to analysts at Couloir Capital, the share price still has room to rise. The target price for the share announced in June is CAD 0.65. Couloir Capital considers the value to be promising for speculative investors, as the exploration potential is set to increase massively with the continuation of the drilling program. With its land package in a high-yield gold belt, Dryden Gold offers opportunities for attractive returns. This is contingent on a sustained high gold price. At a time when CEOs of key German industries, such as Evonik's Christian Kullmann, are warning of a global economic crisis, the conditions for further increases in gold prices appear to be in place. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a 'Transaction'). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company. 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