Weekly Review: Revolut Launches Euro Stablecoin; IG Faces Outage

Byexpertzeeshan

This week brought a mix of product launches, regulatory
developments and changes across the online trading industry. A new euro
stablecoin entered circulation, while brokers faced technical disruptions,
regulatory settlements and licence changes.

Regulators also turned their attention to CFD protections
and operational resilience in an increasingly AI-driven environment. Meanwhile,
financial results and shareholder returns offered contrasting views of broker
performance, while the prop trading sector continued to diverge between large
institutional market makers and retail-funded trading firms.

Revolut introduced EURR, a
euro-backed stablecoin that became publicly available on August 20, with
only EUR 374 in circulation when Bridge’s reserve dashboard was checked. The
token is legally issued by Luxembourg-based Bridge Building S.A., a
Stripe-owned company regulated as an electronic money institution and
crypto-asset service provider, while Revolut distributes it through its app and
Revolut X.

Source: Bridge.xyz

EURR initially operates on Ethereum and Polygon and is backed
one-for-one by euro-denominated reserves. The launch gives Revolut a live euro
stablecoin offering under the EU’s MiCA framework, although its initial supply
remains far below established rivals such as Circle’s EURC.

IG Resolves Client Login Disruption

IG clients reported login failures across its web
and mobile trading platforms shortly before and around the US market open.
Users in the UK, Ireland, Singapore and Australia said they were unable to
access their accounts, with some reporting problems across multiple browsers
and devices.

The broker’s main website remained available, while
outage-monitoring sites and online discussions pointed to problems with account
access. IG later confirmed that it had experienced a technical issue that
primarily affected client logins and said the problem had been fully resolved.
The incident added to a series of recent platform disruptions across the
brokerage industry, including reported access problems at Interactive Brokers
and other firms.

RoboMarkets Settles CySEC CFD Case

CySEC reached a EUR 100,000 settlement with RoboMarkets
Ltd over possible breaches of investment services rules, including
restrictions governing the marketing, distribution and sale of CFDs to retail
clients. The broker has already paid the settlement, according to the
regulator.

CySEC’s review also covered organisational requirements, information
provided to clients and procedures for assessing whether investment products
were appropriate. The regulator did not disclose the specific practices or
incidents behind the possible violations.

The settlement follows an earlier
CySEC intervention in 2023, when RoboMarkets was ordered to stop offering
non-monetary rewards, including race tickets and branded merchandise, to retail
CFD clients.

FXDD’s Malta Entity Surrenders Licence

Malta’s financial regulator accepted Triton Capital Markets
Ltd.’s voluntary
surrender of its investment services licence, ending the former FXDD Malta
broker’s authorisation after 16 years. The Malta Financial Services Authority
said the withdrawal was not the result of regulatory action.

Triton had used
the licence to provide investment services across the European Economic Area
under MiFID passporting rules, a route now closed to the Maltese entity. The
company ceased to be licensed on August 25.

The development does not determine
the regulatory status of separate legal entities using the FXDD brand outside
Malta. Belgium had already recorded the end of Triton’s freedom to provide
investment services there in March.

ASIC Prepares Review of CFD Rules

Sarah Court, Source: LinkedIn

Australia’s financial regulator said it
will consult in the fourth quarter on proposals to amend and extend its CFD
product intervention order before the current rules expire on May 23, 2027.
The order applies to Australian financial services licensees issuing CFDs to
retail clients and currently caps leverage at 30:1 for major foreign exchange
pairs and 2:1 for crypto CFDs.

It also requires margin close-out and negative
balance protections, standardised risk warnings and restrictions on certain
inducements. ASIC ‘s timetable places the consultation after an initial review,
with ministerial approval planned for the first quarter of 2027. The regulator
has not yet specified which provisions could change.

ASIC Calls for AI Attack Planning

ASIC and APRA called on financial firms to establish
decision-making authority and recovery priorities before an AI-enabled
cyberattack or other major incident occurs. The guidance followed nine
roundtables involving more than 600 participants from over 380 entities.

Simone Constant, the ASIC Commissioner

Regulators said boards should decide in advance who can escalate an incident,
order a shutdown, set recovery priorities and approve crisis communications.
The issue extends to retail trading firms, where client access, payments and
trading platforms may all require prioritisation during a disruption.

Firms
were also urged to map critical assets, restrict privileged access, patch
vulnerabilities and test backups. ASIC said cyber resilience is a licensing
obligation rather than simply an IT issue.

Dukascopy Profit Falls Despite Deposit Growth

Dukascopy Bank reported a
58% fall in consolidated first-half profit to CHF 1.38 million, as weaker
trading and net interest income outweighed stronger commission income. The
trading result, the group’s largest income line, fell 25% to CHF 8.77 million,
while net interest income declined 33%. Net commission income rose 37% to CHF
2.33 million.

Combined income from the three core lines fell 18%, while
operating expenses were broadly stable. At the same time, customer deposits
increased 25% from the end of December to CHF 239.29 million, and total
consolidated assets rose 19% to CHF 309.50 million. The interim statement
provided no guidance for the second half.

Plus500 Starts Another $100 Million Buyback

Plus500 began a
USD 100 million share buyback, its second repurchase programme of that size
in 2026. The London-listed broker is authorised to purchase up to 5.76 million
shares under an authority approved at its May annual general meeting.

The
buyback forms part of the USD 182.5 million shareholder return announced with
the company’s first-half results, with the remaining USD 82.5 million allocated
to dividends. The programme combines a USD 35.3 million interim buyback with a
USD 64.7 million special buyback and could continue into 2027.

Plus500 said
repeated repurchases have reduced its weighted average share count,
contributing to a 6% year-on-year increase in first-half earnings per share.

Prop Trading Splits Between Two Models

Prop trading continued to show a
widening divide between large institutional market makers and retail-funded
trading businesses. At the institutional end, non-bank trading firms
generated an estimated USD 114 billion in revenue in 2025, while Jane Street
reported more than USD 40 billion in net trading revenue over the previous 12
months.

Large firms are expanding beyond high-frequency equities and investing
heavily in AI, data and computing infrastructure. In retail prop trading,
consolidation has coincided with growing demand and a shift towards
futures-based evaluations.

One industry survey found that a USD 100,000 futures
evaluation averaged about USD 193, compared with USD 419 for a comparable CFD
evaluation, reflecting changing economics and competitive pressures.

This week brought a mix of product launches, regulatory
developments and changes across the online trading industry. A new euro
stablecoin entered circulation, while brokers faced technical disruptions,
regulatory settlements and licence changes.

Regulators also turned their attention to CFD protections
and operational resilience in an increasingly AI-driven environment. Meanwhile,
financial results and shareholder returns offered contrasting views of broker
performance, while the prop trading sector continued to diverge between large
institutional market makers and retail-funded trading firms.

Revolut introduced EURR, a
euro-backed stablecoin that became publicly available on August 20, with
only EUR 374 in circulation when Bridge’s reserve dashboard was checked. The
token is legally issued by Luxembourg-based Bridge Building S.A., a
Stripe-owned company regulated as an electronic money institution and
crypto-asset service provider, while Revolut distributes it through its app and
Revolut X.

Source: Bridge.xyz

EURR initially operates on Ethereum and Polygon and is backed
one-for-one by euro-denominated reserves. The launch gives Revolut a live euro
stablecoin offering under the EU’s MiCA framework, although its initial supply
remains far below established rivals such as Circle’s EURC.

IG Resolves Client Login Disruption

IG clients reported login failures across its web
and mobile trading platforms shortly before and around the US market open.
Users in the UK, Ireland, Singapore and Australia said they were unable to
access their accounts, with some reporting problems across multiple browsers
and devices.

The broker’s main website remained available, while
outage-monitoring sites and online discussions pointed to problems with account
access. IG later confirmed that it had experienced a technical issue that
primarily affected client logins and said the problem had been fully resolved.
The incident added to a series of recent platform disruptions across the
brokerage industry, including reported access problems at Interactive Brokers
and other firms.

RoboMarkets Settles CySEC CFD Case

CySEC reached a EUR 100,000 settlement with RoboMarkets
Ltd over possible breaches of investment services rules, including
restrictions governing the marketing, distribution and sale of CFDs to retail
clients. The broker has already paid the settlement, according to the
regulator.

CySEC’s review also covered organisational requirements, information
provided to clients and procedures for assessing whether investment products
were appropriate. The regulator did not disclose the specific practices or
incidents behind the possible violations.

The settlement follows an earlier
CySEC intervention in 2023, when RoboMarkets was ordered to stop offering
non-monetary rewards, including race tickets and branded merchandise, to retail
CFD clients.

FXDD’s Malta Entity Surrenders Licence

Malta’s financial regulator accepted Triton Capital Markets
Ltd.’s voluntary
surrender of its investment services licence, ending the former FXDD Malta
broker’s authorisation after 16 years. The Malta Financial Services Authority
said the withdrawal was not the result of regulatory action.

Triton had used
the licence to provide investment services across the European Economic Area
under MiFID passporting rules, a route now closed to the Maltese entity. The
company ceased to be licensed on August 25.

The development does not determine
the regulatory status of separate legal entities using the FXDD brand outside
Malta. Belgium had already recorded the end of Triton’s freedom to provide
investment services there in March.

ASIC Prepares Review of CFD Rules

Sarah Court, Source: LinkedIn

Australia’s financial regulator said it
will consult in the fourth quarter on proposals to amend and extend its CFD
product intervention order before the current rules expire on May 23, 2027.
The order applies to Australian financial services licensees issuing CFDs to
retail clients and currently caps leverage at 30:1 for major foreign exchange
pairs and 2:1 for crypto CFDs.

It also requires margin close-out and negative
balance protections, standardised risk warnings and restrictions on certain
inducements. ASIC ‘s timetable places the consultation after an initial review,
with ministerial approval planned for the first quarter of 2027. The regulator
has not yet specified which provisions could change.

ASIC Calls for AI Attack Planning

ASIC and APRA called on financial firms to establish
decision-making authority and recovery priorities before an AI-enabled
cyberattack or other major incident occurs. The guidance followed nine
roundtables involving more than 600 participants from over 380 entities.

Simone Constant, the ASIC Commissioner

Regulators said boards should decide in advance who can escalate an incident,
order a shutdown, set recovery priorities and approve crisis communications.
The issue extends to retail trading firms, where client access, payments and
trading platforms may all require prioritisation during a disruption.

Firms
were also urged to map critical assets, restrict privileged access, patch
vulnerabilities and test backups. ASIC said cyber resilience is a licensing
obligation rather than simply an IT issue.

Dukascopy Profit Falls Despite Deposit Growth

Dukascopy Bank reported a
58% fall in consolidated first-half profit to CHF 1.38 million, as weaker
trading and net interest income outweighed stronger commission income. The
trading result, the group’s largest income line, fell 25% to CHF 8.77 million,
while net interest income declined 33%. Net commission income rose 37% to CHF
2.33 million.

Combined income from the three core lines fell 18%, while
operating expenses were broadly stable. At the same time, customer deposits
increased 25% from the end of December to CHF 239.29 million, and total
consolidated assets rose 19% to CHF 309.50 million. The interim statement
provided no guidance for the second half.

Plus500 Starts Another $100 Million Buyback

Plus500 began a
USD 100 million share buyback, its second repurchase programme of that size
in 2026. The London-listed broker is authorised to purchase up to 5.76 million
shares under an authority approved at its May annual general meeting.

The
buyback forms part of the USD 182.5 million shareholder return announced with
the company’s first-half results, with the remaining USD 82.5 million allocated
to dividends. The programme combines a USD 35.3 million interim buyback with a
USD 64.7 million special buyback and could continue into 2027.

Plus500 said
repeated repurchases have reduced its weighted average share count,
contributing to a 6% year-on-year increase in first-half earnings per share.

Prop Trading Splits Between Two Models

Prop trading continued to show a
widening divide between large institutional market makers and retail-funded
trading businesses. At the institutional end, non-bank trading firms
generated an estimated USD 114 billion in revenue in 2025, while Jane Street
reported more than USD 40 billion in net trading revenue over the previous 12
months.

Large firms are expanding beyond high-frequency equities and investing
heavily in AI, data and computing infrastructure. In retail prop trading,
consolidation has coincided with growing demand and a shift towards
futures-based evaluations.

One industry survey found that a USD 100,000 futures
evaluation averaged about USD 193, compared with USD 419 for a comparable CFD
evaluation, reflecting changing economics and competitive pressures.

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