Dubai outpaces Cyprus on FX executive pay
Despite its established status as a forex hub, Cyprus is losing ground to Dubai in terms of salaries paid to top executives in the industry. Dubai has also recently welcomed more brokers opening offices and acquiring local licenses.
For instance, a Chief Operating Officer in Cyprus can earn up to EUR 180,000 a year, while the annual salary for the same role in Dubai can go up to EUR 301,000.
Similarly, the salary of a Chief Revenue Officer in Cyprus is EUR 144,000, while in Dubai it is EUR 327,000. Notably, the UAE has no personal income tax.
The survey found that the average salary increase was 5.4% across all sectors in Cyprus, while the growth was between 6% and 8% in Dubai-based roles.
Exness buys land worth €75 million
Meanwhile, Exness, a major retail trading brand, bought a piece of land from the Bank of Cyprus, reportedly paying €75 million. Exness might use the land to develop an “Exness Campus” in the future to house its staff or provide employee accommodation.
The location of the large plot is also strategic for Exness, as it is only a 40-minute drive from its main office in Limassol.
Trading 212 opens a new Berlin office
Another brokerage firm expanding its reach is Trading212. Months after it began onboarding clients in the country, the company has opened a new office in the German capital, Berlin.
The London-based firm boosted its presence in the region by acquiring local brokerage platform FXFlat in 2024. Outside its German operations, it operates through multiple entities: one in the UK and two in Cyprus and Bulgaria.
At the same time, Irish trading broker AvaTrade has reached preliminary agreements with a group of investors to inject capital into the company. The transaction reportedly includes a secondary component and is still in its early stage.
Coinbase seeks approval for USDC stablecoin
In the crypto space, stablecoin may soon become a mainstream fixture in U.S. derivatives markets. Coinbase Derivatives and clearinghouse Nodal Clear plan to make USDC eligible collateral for margined futures trading.
If regulators approve the move, it will be the first time a stablecoin is formally allowed as collateral in regulated U.S. futures markets. Additionally, the exchange is seeking permission from the SEC to offer tokenized equities.
Nauru and Vietnam regulate crypto
In the regulatory front, Nauru, a micro island nation in the Pacific Ocean, became the latest to pass legislation to regulate cryptocurrencies by forming a dedicated virtual asset regulatory authority.
The bill, passed by Nauru’s parliament earlier this week, establishes the Command Ridge Virtual Asset Authority, named after the island’s highest point. The regulator will oversee virtual assets, digital banking, and Web3 innovation.
Vietnam also became the latest country to officially recognise digital assets, with its new law approved this month. The legislation, which also covers initiatives around artificial intelligence (AI), will take effect next year.
Consumer Duty
In the UK, Paul Golden noted in his analysis that while the FCA is quick to applaud itself with banks’ praise for the Consumer Duty, many UK brokers cite the same rules as one of the reasons they’re exiting the market.
So it was no surprise when the UK Financial Conduct Authority stated earlier this month that its Consumer Duty was helping banks deliver better outcomes for their customers.
WATCH: Consumer Duty Debate!
Had the pleasure of hosting a roundtable with regulatory experts to discuss consumer duty.
Check out the highlights! 🧵
Consumer duty debate: The ‘outrageously poor’ area missed by FCAhttps://t.co/eQulKPa1XF pic.twitter.com/0Zclc457gI— Olivia Bybel (@oliviavenetia) February 13, 2024
However, many firms feel that the UK has become one of the most challenging brokerage environments in the world and that overall compliance costs have risen.
Bybit enters TradFi
Bybit rolled out a new trading feature that brings traditional financial markets into the same platform used for cryptocurrencies. Dubbed Bybit TradFi, the new service seeks to enable users to trade gold, forex , indices, commodities, and stock CFDs directly from the Bybit app.
Bybit, a centralized crypto exchange, will now enable access to all five major markets within a single trading environment. Users can reportedly trade 78 stock CFDs, including Apple, Tesla, Amazon, and Google, alongside crypto, using one account and crypto wallet.
iFX EXPO International 2025
In the biggest highlight of the week, Thursday was the last day of iFX EXPO International 2025, packed with panel discussions and interviews, covering a range of topics from online trading and liquidity to payments and prop trading.
Among the interesting topics discussed during the expo, experts delved into reasons why “Automation Will Benefit Very Highly from AI“, “A Framework Is Essential, but It Can’t be One-Size-Fits-All“, and “It Does Not Make Sense to Build Everything Yourself“.
SpaceX Starship explodes
Outside the FX industry, Elon Musk’s ambitious Starship project went up in flames, literally, during a test in Texas, rattling nearby towns and raising fresh questions about the pace of space innovation.
— NSF – NASASpaceflight.com (@NASASpaceflight) June 19, 2025
SpaceX is no stranger to rocket failures. In fact, the company practically markets them as part of its learning curve.
Dubai outpaces Cyprus on FX executive pay
Despite its established status as a forex hub, Cyprus is losing ground to Dubai in terms of salaries paid to top executives in the industry. Dubai has also recently welcomed more brokers opening offices and acquiring local licenses.
For instance, a Chief Operating Officer in Cyprus can earn up to EUR 180,000 a year, while the annual salary for the same role in Dubai can go up to EUR 301,000.
Similarly, the salary of a Chief Revenue Officer in Cyprus is EUR 144,000, while in Dubai it is EUR 327,000. Notably, the UAE has no personal income tax.
The survey found that the average salary increase was 5.4% across all sectors in Cyprus, while the growth was between 6% and 8% in Dubai-based roles.
Exness buys land worth €75 million
Meanwhile, Exness, a major retail trading brand, bought a piece of land from the Bank of Cyprus, reportedly paying €75 million. Exness might use the land to develop an “Exness Campus” in the future to house its staff or provide employee accommodation.
The location of the large plot is also strategic for Exness, as it is only a 40-minute drive from its main office in Limassol.
Trading 212 opens a new Berlin office
Another brokerage firm expanding its reach is Trading212. Months after it began onboarding clients in the country, the company has opened a new office in the German capital, Berlin.
The London-based firm boosted its presence in the region by acquiring local brokerage platform FXFlat in 2024. Outside its German operations, it operates through multiple entities: one in the UK and two in Cyprus and Bulgaria.
At the same time, Irish trading broker AvaTrade has reached preliminary agreements with a group of investors to inject capital into the company. The transaction reportedly includes a secondary component and is still in its early stage.
Coinbase seeks approval for USDC stablecoin
In the crypto space, stablecoin may soon become a mainstream fixture in U.S. derivatives markets. Coinbase Derivatives and clearinghouse Nodal Clear plan to make USDC eligible collateral for margined futures trading.
If regulators approve the move, it will be the first time a stablecoin is formally allowed as collateral in regulated U.S. futures markets. Additionally, the exchange is seeking permission from the SEC to offer tokenized equities.
Nauru and Vietnam regulate crypto
In the regulatory front, Nauru, a micro island nation in the Pacific Ocean, became the latest to pass legislation to regulate cryptocurrencies by forming a dedicated virtual asset regulatory authority.
The bill, passed by Nauru’s parliament earlier this week, establishes the Command Ridge Virtual Asset Authority, named after the island’s highest point. The regulator will oversee virtual assets, digital banking, and Web3 innovation.
Vietnam also became the latest country to officially recognise digital assets, with its new law approved this month. The legislation, which also covers initiatives around artificial intelligence (AI), will take effect next year.
Consumer Duty
In the UK, Paul Golden noted in his analysis that while the FCA is quick to applaud itself with banks’ praise for the Consumer Duty, many UK brokers cite the same rules as one of the reasons they’re exiting the market.
So it was no surprise when the UK Financial Conduct Authority stated earlier this month that its Consumer Duty was helping banks deliver better outcomes for their customers.
WATCH: Consumer Duty Debate!
Had the pleasure of hosting a roundtable with regulatory experts to discuss consumer duty.
Check out the highlights! 🧵
Consumer duty debate: The ‘outrageously poor’ area missed by FCAhttps://t.co/eQulKPa1XF pic.twitter.com/0Zclc457gI— Olivia Bybel (@oliviavenetia) February 13, 2024
However, many firms feel that the UK has become one of the most challenging brokerage environments in the world and that overall compliance costs have risen.
Bybit enters TradFi
Bybit rolled out a new trading feature that brings traditional financial markets into the same platform used for cryptocurrencies. Dubbed Bybit TradFi, the new service seeks to enable users to trade gold, forex , indices, commodities, and stock CFDs directly from the Bybit app.
Bybit, a centralized crypto exchange, will now enable access to all five major markets within a single trading environment. Users can reportedly trade 78 stock CFDs, including Apple, Tesla, Amazon, and Google, alongside crypto, using one account and crypto wallet.
iFX EXPO International 2025
In the biggest highlight of the week, Thursday was the last day of iFX EXPO International 2025, packed with panel discussions and interviews, covering a range of topics from online trading and liquidity to payments and prop trading.
Among the interesting topics discussed during the expo, experts delved into reasons why “Automation Will Benefit Very Highly from AI“, “A Framework Is Essential, but It Can’t be One-Size-Fits-All“, and “It Does Not Make Sense to Build Everything Yourself“.
SpaceX Starship explodes
Outside the FX industry, Elon Musk’s ambitious Starship project went up in flames, literally, during a test in Texas, rattling nearby towns and raising fresh questions about the pace of space innovation.
— NSF – NASASpaceflight.com (@NASASpaceflight) June 19, 2025
SpaceX is no stranger to rocket failures. In fact, the company practically markets them as part of its learning curve.
