Fidelity to Launch Crypto Trading, Beeks Acquires CNS: Editor’s Pick

[Magician]

It’s been yet another busy week in the foreign exchange (forex) and cryptocurrency industries. In case you missed some of the top and most interesting stories of the week, here is a recap in our best of the week segment.

Fidelity to Launch Crypto Trading

A new player is set to open in the institutional cryptocurrency space – Boston-headquartered investment firm Fidelity, according to an anonymous source. Although no specific timeline has been set, the source expects the firm will facilitate the buying and selling of digital currencies in the next few weeks.

Rumours began to swirl about the upcoming launch just days after Fidelity published a survey which highlights that 22 per cent of institutional investors have some form of crypto investments. You can read the full article here.

France’s AMF to Make ESMA’s Product Intervention Measures Permanent

In its annual report released this Tuesday, the Autorité des marchés financiers (AMF) indicated that it plans to make the European Securities and Markets Authority’s (ESMA) product intervention measures, introduced last August, permanent.

As Finance Magnates reported, the French regulator had previously hinted at plans to do that back in March, when it issued a statement saying it did not want to rely on ESMA continually renewing the rules every three months.

In the annual report, the French financial watchdog said that the rules would be extended in the summer of this year by “national measures.”

Beeks Financial Cloud Acquires CNS

Another big story to come out this week was from Beeks Financial Cloud Group who told Finance Magnates that it has acquired Commercial Network Services (CNS).

As Finance Magnates highlighted, the cloud computing and connectivity provider said that it paid $1.4 million for CNS’ assets.

Bitfinex Parent Company Plans to Raise $1 Billion for IEO

iFinex, the parent company of Bitfinex, made its plans for an Initial Exchange Offering (IEO) public this week, revealing that it aims to raise up to $1 billion. Along with the news, the firm shared new details about what it plans to do with the proceeds from the sale and more.

Not only did the firm reveal some solid financial results for the past two years, iFinex gave details on its plans to launch a derivatives product and an EOS-based exchange project built using the EOS.IO software, with both set to be launched this summer.

Source