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        Unifimoney, a digital wealth management platform, has raised USD 10 million in seed funding with participation from Shop Your Way, Oriza Ventures, Altair Capital, and others. Following this round, Unifimoney&rsquo;s total funding stands at USD 11.6 million.
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        The company plans to utilize the funding to expand its product offering by adding alternative assets such as collectibles, sports memorabilia, NFTs, and a range of retirement accounts.&nbsp;
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  <p>
    <a href="https://www.prnewswire.com/news-releases/unifimoney-secures-10m-seed-investment-for-its-turnkey-digital-wealth-management-platform-for-banks-and-credit-unions-301518757.html">
      Company press release
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  <p>
    <a href="https://www.yahoo.com/now/unifimoney-secures-10m-seed-investment-123600574.html">
      Yahoo Finance
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Retail Trading Infrastructure

Unifimoney raises USD 10 million in seed funding

<div>
 
 <p>The online trading platform eToro, based in Israel, has consented to pay a penalty of USD 1.5 million to resolve SEC allegations of functioning as an unregistered broker and clearing agency for certain cryptocurrencies. </p>
 <p>In accordance to the settlement, eToro will restrict its US customers to trade only Bitcoin, Bitcoin Cash, and Ether on its platform. The activities with other cryptocurrencies offered as securities will be stopped. The platform will give its users the go-ahead to sell other cryptocurrencies 180 days post the SEC's order and liquidate any remainders within 187 days, refunding these proceeds to its customers.</p>
 <p>The SEC regards this settlement as a step towards augmenting investor protection and provides a blueprint for other crypto intermediaries to adhere to the existing regulatory frameworks.</p>
 
</div>

eToro settles for USD 1.5 million with SEC over unregistered trading of certain crypto assets

PROMINENT_CATEGORY

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 <p>Digital wealth management solutions provider, SigFig, has enhanced its Engage platform with new AI-powered features. Engage is a collaborative tool for financial advisors combining human expertise and technology.</p>
 <p>AI enhancements introduce smart tips for in-meeting prompts and customisable suggestions, proactive surfacing of pertinent content and tools, and automatic transcripts and meeting summaries. The platform can also integrate with Salesforce, Docusign, Microsoft, and Google for two-way data synchronization.</p>
 <p>SigFig suggests its AI features can heighten financial advisor productivity and performance, allowing advisors to concentrate on strengthening client relationships. Additionally, the platform will provide personalised client experiences and manage time-intensive administrative tasks.</p>

</div>

SigFig enhances Engage platform offerings with added AI capabilities

<div>
 
 <p>The trading platform Robinhood stopped trading temporarily amid a huge stock market sell-off. During this significant market decline, Robinhood's 24-hour trading service was discontinued preventing users from participating in volatile trade. </p>
 <p>This decision of suspension came when S&amp;P 500 experienced a 4% drop in its early-day trading, along with the Dow Jones Industrial Average plummeting 1,197 points. Users were notified about the unavailability of 24-hour market through a warning message displayed on Robinhood's app, but they were informed they could still place orders for the next trading session.</p>
 <p>Like other institutions, Robinhood abides by the "circuit breakers" of the stock market, which are defined criteria set by SEC (U.S. Securities and Exchange Commission) for halting trades. These protocol steps are key in preventing panic selling and averting market crashes in times of severe volatility.</p>
 
</div>

Robinhood halts trading amid stock market sell-off

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 <p>Online trading platform Robinhood has introduced joint investment accounts. This feature lets users manage investments collaboratively and simplifies the investment process by consolidating financial assets into one account.</p>
 <p>The user-friendly joint investment account merges individual accounts, enables shared access, eases fund transfers, and provides easy switching between individual and joint accounts.</p>
 <p>With no extra charges, Robinhood aims to offer users additional financial growth opportunities by including benefits like a 1% deposit boost and a 5% APY on non-invested cash in the joint investment accounts.</p>
 
</div>

Robinhood launches joint investment accounts

<div>
 <p>Online trading platform eToro, based in Israel, has formed a partnership with the London Stock Exchange. This collaboration aims at offering users access to over 1,000 additional UK stocks and improving the quality of market data.</p>
 <p>This partnership will phase in the inclusion of more UK stocks to eToro's platform over the forthcoming months, growing from their existing offering of over 400 listed UK companies. eToro aims to enhance the trading experience for its global clientele, comprising of 3.8 million registered UK users. This enhancement will involve offering access to smaller stocks and better quality pricing data.</p>
 <p>This joint endeavor is a part of the strategies of eToro to tailor their offerings for the UK market. The strategy is in line with the prior launch of its ISA product and the provision for UK users to directly invest from GBP-denominated eToro Money accounts.</p>
</div>

eToro partners with London Stock Exchange to expand UK stock offerings

<div>
 
 <p>Plynk, an investing platform, is partnering with Teach For America, an education-focused non-profit. The aim is to improve teachers' financial wellness and increase the reach of Plynk's product.</p>
 <p>In this partnership, Plynk plans to conduct a webinar for Teach For America members, titled "Investing in Your Financial Future: Making Money Work for You." The session aims to present crucial investment principles, tools, and advice, along with a demonstration of Plynk's app. This is to provide practical steps for teachers in their investment journey.</p>
 
</div>

Plynk partners with Teach For America to expand product reach

<div>

 <p>Plum, a UK-based automated investment and savings platform, has raised GBP 16 million (~USD 20.6 million) in Series B funding. The funding round included GBP 13.4 million (~USD 17.3 million) in equity funding, and an additional GBP 2.7 million (~USD 3.5 million) through a crowdfunding campaign on Crowdcube. Eurobank and iGrow Venture Capital co-led the equity round, and participants included Venture Friends, Ventura Capital, among others. The total funding of Plum Fintech now amounts to USD 110.5 million.</p>
 <p>The funds raised will be used to widen Plum's product offerings, together with its recently introduced products like Cash ISA in the UK and ETFs in Europe. Plum's objective is to improve its savings and investment app and achieve profitability by 2025.</p>
 <p>In terms of financial performance, Plum disclosed a 2x YoY growth in its revenue along with a 40% uptick in average revenue per customer. The company has more than 2 million users across 10 European markets. Over the past 12 months, it registered a threefold growth in assets under management, which now exceed GBP 1 billion (~USD 1.3 billion).</p>

</div>

Plum Fintech raises GBP 16 million in Series B funding to expand product offerings

ANALYST_QUICK_TAKE

<div>
 
 <p>WeBull, a trading platform online, has introduced WeBull Savings. This new feature enables UK users to browse a variety of savings accounts offered by multiple banks. It also makes transferring funds between trading and savings accounts simpler.</p>
 <p>WeBull Savings provides a unified solution that lets users compare interest rates among various banks, deposit cash into their chosen bank account, and shift funds between their WeBull trading account and bank accounts. This helps diversify their investments.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The launch of WeBull Savings in the UK is an addition to the company’s ongoing global expansion efforts with product launches in the US, Canada, and Brazil. Two weeks ago, WeBull partnered with <a href="https:<br>
//sp-edge.com/companies/1586314"> Apex </a> and <a href="https:<br>
//sp-edge.com/companies/3201026"> Moment </a> to <a href="https:<br>
//sp-edge.com/updates/31024"> offer bond trading </a> in the US, launched <a href="https:<br>
//sp-edge.com/updates/27566"> futures and commodities trading </a> in the US (March 2024), launched a cash <a href="https:<br>
//sp-edge.com/updates/27706"> management solution </a> in Canada, and <a href="https:<br>
//sp-edge.com/updates/27224"> launched its platform in Brazil </a> with plans to offer customized product offerings (February 2024).</p>

WeBull launches WeBull Savings in UK

INCUMBENTS_PRESENT

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 <p>Online trading platform, BUX, which is owned by ABN Amro, a Dutch banking group, has sold BUX Financial Services (BFS) to Asseta Holding. BFS is a UK-based FCA-licensed entity offering services in contracts for differences (CFDs) and spread betting. Asseta Holding is the parent company of APM Capital, an online trading platform based in the UAE. The purchase price is undisclosed.</p>
 <p>ABN Amro has mentioned that BFS did not significantly contribute to BUX's revenue, reporting a revenue of GBP 1.5 million (approximately USD 1.9 million) for 2022. However, it also reported losses amounting to GBP 25.9 million (approximately USD 33.6 million) by the end of the year. Prior to being acquired by ABN Amro in <a href="https://sp-edge.com/updates/25089"> December 2023 </a>, BUX had already withdrawn from the UK market in 2023.</p>
 <p>Post the divestment, BFS will function as a sister company to APM Capital. This will aid APM Capital in its ongoing international expansion plans and will improve its service offerings.</p>
 
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BUX sells BUX Financial Services to UAE-based APM Capital for undisclosed sum

<div>
 
 <p>Moomoo, an online trading platform, has joined forces with TradingView, another platform that excels in trading and charting. This partnership aims to successfully integrate their platforms, offering Moomoo users the convenience of trading directly via TradingView.</p>
 <p>This integration promises not only the convenience of straightforward access to TradingView’s exceptional charting and analytical tools, but also the benefit of being able to use the charting tools, technical analytics, and extensive data already present on the Moomoo platform. The main aim of this partnership is to level up user experience for Moomoo users and enrich their social network. It aims to achieve this by spawning opportunities for an increase in trading discussions within Moomoo's vibrant trading community.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In recent months, Moomoo has focused on improving its platform's user experience. In April, it launched a three-month free trial of Nasdaq TotalView on its platform via a <a href="https:<br>
//sp-edge.com/updates/28221"> partnership with Nasdaq </a> and <a href="https:<br>
//sp-edge.com/updates/24470"> Podcast Mobile Money </a> last November.</p>

All Updates

Unifimoney raises USD 10 million in seed funding

eToro settles for USD 1.5 million with SEC over unregistered trading of certain crypto assets

SigFig enhances Engage platform offerings with added AI capabilities

Robinhood halts trading amid stock market sell-off

Robinhood launches joint investment accounts

eToro partners with London Stock Exchange to expand UK stock offerings

Plynk partners with Teach For America to expand product reach

Plum Fintech raises GBP 16 million in Series B funding to expand product offerings

WeBull launches WeBull Savings in UK

BUX sells BUX Financial Services to UAE-based APM Capital for undisclosed sum

Moomoo partners with TradingView to integrate platform offerings

Retail Trading Infrastructure

Unifimoney raises USD 10 million in seed funding

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