Moneycorp Americas enters Crypto space as FX liquidity provider

Rick Steves

Moneycorp shows perfect timing. A recent industry report found that crypto exchanges accounted for more than $14 trillion in trade volume in 2021 and that there will be 1 billion crypto users by 2027.

Fed’s Brainard cautious over boom of blockchain technology

Moneycorp Americas has entered the cryptocurrency space as an FX liquidity provider for digital asset exchanges across the globe in a new vertical for the payments specialists.

The company will help supply forex liquidity rails to cryptocurrency exchanges with competitive FX rates and settlement times in an ecosystem that has been underserved by traditional banks due to their limitation and regulatory challenges.

Digital asset trading platforms will be able to count on Moneycorp’s FX liquidity for better turnaround times and more accurate delivery, said the firm who added the new vertical because of crypto’s growing popularity.

“With the rise in digital currencies, we feel this is an opportune time for Moneycorp to join in the space and make an impact on the future of digital payments. Due to industry risk and limitations, digital currency investors still face many hurdles when it comes to facilitating transactions and this is where Moneycorp is hoping to offer its services by delivering funds faster and saving them money.”

Crypto exchange revenue surpassed traditional stock exchanges

Moneycorp shows perfect timing. A recent industry report found that crypto exchanges accounted for more than $14 trillion in trade volume in 2021 and that there will be 1 billion crypto users by 2027.

The top ten cryptocurrency exchanges are bringing in as much as $3 million per day in profit, according to Bloomberg estimates. This industry didn’t exist before 2009, which makes the deed even more astonishing.

Global trading revenue generated by cryptocurrency exchanges hit $24.3 billion in 2021, having surpassed total revenue generated by traditional stock exchanges like the New York Stock Exchange and the Nasdaq for the first time ever, according to a report by Opimas.

Revenue at crypto exchanges increased seven times from the $3.4 billion in sales recorded in 2020 and was 60% higher than the roughly $15.2 billion brought in by traditional securities exchanges, the report added.

Revenue growth of approximately 600% is quite a figure on a year over year comparison. The digital asset industry is clearly far from stabilizing its volumes as the crypto space continues to mature and institutional participants join the party amid increasing security, liquidity, and regulatory approval.

Securities and Exchange Commission Chairman Gary Gensler told MarketWatch in a February interview that beefing up cryptocurrency exchange regulation will be a top priority for the agency in the months and years to come.

He noted that the vast majority of crypto trades happen on centralized exchanges and that “that activity centralized on those platforms they need the investor protection, the market integrity and anti-manipulation” rules that govern markets for other financial assets.

Read this next

Digital Assets shuts down its US institutional exchange has announced plans to discontinue its institutional exchange service for professional customers in the United States as soon as June 21.

Retail FX

ThinkMarkets launches copy trading platform ‘ThinkCopy’

Melbourne-based broker, ThinkMarkets has introduced ThinkCopy, a copy trading platform that aims to provide clients with access to experienced traders and a range of social features.

Retail FX

Robinhood delists Solana, Cardano, and Polygon amid SEC’s crackdown

Commission-free brokerage Robinhood Markets announced on Friday that it would be delisting three crypto tokens from its platform. The decision comes shortly after the U.S. regulators intensified its regulatory actions against major cryptocurrency exchanges.

Digital Assets

US wants Bittrex to settle federal dues before compensating customers

The U.S. government has raised objections to Bittrex’s proposal to compensate its customers, adding to concerns about the resolution of the crypto exchange’s bankruptcy case.

Digital Assets

Binance prepares to suspend US dollar funding after SEC crackdown

Binance.US said it will temporarily suspend US dollar deposits and provided customers with a deadline to withdraw their fiat balances. This decision comes after the US Securities and Exchange Commission (SEC) filed a lawsuit requesting the freezing of Binance’s assets in the country.

Digital Assets

Januar launches real-time payments network to fill gap made by Silvergate and Signature

“To all the entrepreneurs and innovators out there is a clear message: if you are a legitimate European business working with crypto then Januar is here to provide you with the account and payment infrastructure you need to operate successfully and build the financial system of tomorrow.”

Retail FX

Exness’ active clients top 515K as monthly volume hits $3.35 trillion

FX trading volumes are climbing again as economic uncertainty spurred by recent developments over central banks’ policies encouraged speculators to pile back into the market.


Danske Bank plans signficant investment in digital platforms

“We have decided to significantly increase our investments in our digital platforms, expert advisory services and sustainability, focusing on the areas where we see the best opportunities for profitable growth.”

Digital Assets

ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

ERD, the Ethereum Reserve Dollar, is a decentralized lending platform and stablecoin that aims to provide a capital-efficient, decentralized, and stable solution to the challenges faced by the stablecoin industry, introducing a minimum collateralization ratio of 110% and a robust liquidation mechanism.