Jon Vollemaere’s R5FX enters Singapore

Emerging markets FX firm R5FX, headed by FinTech entrepreneur Jon Vollameare, has received full authorization from the Monetary Authority of Singapore (MAS), Singapore’s official financial markets regulator, to begin live trading in the third most prominent destination for interbank FX in the world. R5FX’s entry into Singapore begain quite some time ago, and the firm […]

R5FX enters Singapore

Emerging markets FX firm R5FX, headed by FinTech entrepreneur Jon Vollameare, has received full authorization from the Monetary Authority of Singapore (MAS), Singapore’s official financial markets regulator, to begin live trading in the third most prominent destination for interbank FX in the world.

R5FX’s entry into Singapore begain quite some time ago, and the firm has taken considerable time in enlisting some prominent talent to its board in the quest for entering the Asia Pacific region.

Back in September 2015, despite its emphasis on the five BRICS economies, the company began to display that blue blood was for certain an integral part of the board at R5FX, with Lord Flight having been elected.

Lord Flight is a Conservative politician in Britain, as well as a member of the House of Lords and is a director of several financial organizations with a bent toward the emerging markets. He is also on the board of directors of several well known companies including Investec asset Management as well as being Chairman of CIM Investment Management.

Emphasizing the company’s drive toward making a significant entry into Singapore, Eng Huat Tan joined the board alongside Lord Flight, bringing with him thirty five years of experience across large institutions, most recently having held the position of Head of Global Treasury at OCBC in Singapore, preceded by senior executive positions at Dresdner Bank, Swiss Bank Corporation and Overseas Union Bank, all in Singapore.

In January this year, Ben Li-Wong, a former Integral Development Corporation executive based in Singapore joined R5FX as Sales Executive.
The authorization from MAS and the company’s foray into Singapore’s sophisticated and established electronic currency trading market makes for a very stable location from which R5FX can approach some of its target emerging markets, which are located in the Asia Pacific region.

Read this next

Retail FX

Investors from Cyprus and Dubai acquire ‘significant stake’ in M4Markets

Seychelles-regulated brokerage firm M4Markets firm has picked up some investment from Cyprus and Dubai based investors in a new funding round that it will be using to grow its business.

Executive Moves

UAE broker Amana elevates Amr Masry to sales director

Amr Masry has been promoted to a new senior role at Amana Capital, becoming the group’s newest Sales Director, following a successful tenure with the UAE-based FX and CFDs broker.

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.

Uncategorized

PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

<