From Reseller to Exchange: Blockchain.com Moves to Bring US Derivatives In-House

Blockchain.com is bringing its US derivatives operations in-house, moving away from a reseller arrangement to run the business as an exchange itself. The shift expands the crypto platform's derivatives presence in the United States, where it had previously depended on a third party to deliver the service.

Brokers, funding and product moves

In separate deals, AvaTrade agreed to acquire most of FXCM, a transaction that would reshape one of the retail FX industry's best-known names. Trade Nation, meanwhile, agreed to take over FXCM's UK client book.

Funding and earnings news also featured. NAGA secured $8 million in new financing, while Vest Labs raised $13 million. Trading 212 reported revenue growth of 70%, and Fortrade posted higher revenue.

On the product front, XTB expanded its offering with overnight trading in US stocks, extending the hours during which clients can trade American equities. Saxo cut the time required to complete client onboarding, and trading technology provider Devexperts named a new chief executive.

In crypto and regulation, Nasdaq Ventures invested in One Trading, adding an exchange-backed investor to the digital-asset venue. OKX reached a $25 billion valuation. The CFTC moved to allow perpetual index futures, a step that could widen access to a contract structure that has long been popular in crypto markets.

CMC Markets' founder downplayed the impact of subdued volatility, which has been weighing on brokers' trading volumes. Wise is seeking a tax settlement in the UK.