Weekly Review: Revolut Launches Euro Stablecoin; IG Faces Outage

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This week brought a mix of product launches, regulatorydevelopments and changes across the online trading industry. A new eurostablecoin entered circulation, while brokers faced technical disruptions,regulatory settlements and licence changes.Regulators also turned their attention to CFD protectionsand operational resilience in an increasingly AI-driven environment. Meanwhile,financial results and shareholder returns offered contrasting views of brokerperformance, while the prop trading sector continued to diverge between largeinstitutional market makers and retail-funded trading firms.Revolut Enters the Euro Stablecoin MarketRevolut introduced EURR, aeuro-backed stablecoin that became publicly available on August 20, withonly EUR 374 in circulation when Bridge's reserve dashboard was checked. Thetoken is legally issued by Luxembourg-based Bridge Building S.A., aStripe-owned company regulated as an electronic money institution andcrypto-asset service provider, while Revolut distributes it through its app andRevolut X. EURR initially operates on Ethereum and Polygon and is backedone-for-one by euro-denominated reserves. The launch gives Revolut a live eurostablecoin offering under the EU's MiCA framework, although its initial supplyremains far below established rivals such as Circle's EURC.IG Resolves Client Login DisruptionIG clients reported login failures across its weband mobile trading platforms shortly before and around the US market open.Users in the UK, Ireland, Singapore and Australia said they were unable toaccess their accounts, with some reporting problems across multiple browsersand devices.The broker's main website remained available, whileoutage-monitoring sites and online discussions pointed to problems with accountaccess. IG later confirmed that it had experienced a technical issue thatprimarily affected client logins and said the problem had been fully resolved.The incident added to a series of recent platform disruptions across thebrokerage industry, including reported access problems at Interactive Brokersand other firms.IG Index is reportedly down for hundreds of users right now. Are you one of them? #IG #IGIndex #IGDown #IGIndexDownhttps://t.co/YPSleE5vDR— StatusIsDown (@status_is_down) August 24, 2026RoboMarkets Settles CySEC CFD CaseCySEC reached a EUR 100,000 settlement with RoboMarketsLtd over possible breaches of investment services rules, includingrestrictions governing the marketing, distribution and sale of CFDs to retailclients. The broker has already paid the settlement, according to theregulator. CySEC's review also covered organisational requirements, informationprovided to clients and procedures for assessing whether investment productswere appropriate. The regulator did not disclose the specific practices orincidents behind the possible violations. The settlement follows an earlierCySEC intervention in 2023, when RoboMarkets was ordered to stop offeringnon-monetary rewards, including race tickets and branded merchandise, to retailCFD clients.FXDD's Malta Entity Surrenders LicenceMalta's financial regulator accepted Triton Capital MarketsLtd.'s voluntarysurrender of its investment services licence, ending the former FXDD Maltabroker's authorisation after 16 years. The Malta Financial Services Authoritysaid the withdrawal was not the result of regulatory action. Triton had usedthe licence to provide investment services across the European Economic Areaunder MiFID passporting rules, a route now closed to the Maltese entity. Thecompany ceased to be licensed on August 25. The development does not determinethe regulatory status of separate legal entities using the FXDD brand outsideMalta. Belgium had already recorded the end of Triton's freedom to provideinvestment services there in March.ASIC Prepares Review of CFD RulesAustralia's financial regulator said itwill consult in the fourth quarter on proposals to amend and extend its CFDproduct intervention order before the current rules expire on May 23, 2027.The order applies to Australian financial services licensees issuing CFDs toretail clients and currently caps leverage at 30:1 for major foreign exchangepairs and 2:1 for crypto CFDs. It also requires margin close-out and negativebalance protections, standardised risk warnings and restrictions on certaininducements. ASIC's timetable places the consultation after an initial review,with ministerial approval planned for the first quarter of 2027. The regulatorhas not yet specified which provisions could change.ASIC Calls for AI Attack PlanningASIC and APRA called on financial firms to establishdecision-making authority and recovery priorities before an AI-enabledcyberattack or other major incident occurs. The guidance followed nineroundtables involving more than 600 participants from over 380 entities.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 andtrading platforms may all require prioritisation during a disruption. Firmswere also urged to map critical assets, restrict privileged access, patchvulnerabilities and test backups. ASIC said cyber resilience is a licensingobligation rather than simply an IT issue.Dukascopy Profit Falls Despite Deposit GrowthDukascopy Bank reported a58% fall in consolidated first-half profit to CHF 1.38 million, as weakertrading and net interest income outweighed stronger commission income. Thetrading 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 CHF2.33 million.Combined income from the three core lines fell 18%, whileoperating expenses were broadly stable. At the same time, customer depositsincreased 25% from the end of December to CHF 239.29 million, and totalconsolidated assets rose 19% to CHF 309.50 million. The interim statementprovided no guidance for the second half.Plus500 Starts Another $100 Million BuybackPlus500 began aUSD 100 million share buyback, its second repurchase programme of that sizein 2026. The London-listed broker is authorised to purchase up to 5.76 millionshares under an authority approved at its May annual general meeting. Thebuyback forms part of the USD 182.5 million shareholder return announced withthe company's first-half results, with the remaining USD 82.5 million allocatedto dividends. The programme combines a USD 35.3 million interim buyback with aUSD 64.7 million special buyback and could continue into 2027. Plus500 saidrepeated 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 ModelsProp trading continued to show awidening divide between large institutional market makers and retail-fundedtrading businesses. At the institutional end, non-bank trading firmsgenerated an estimated USD 114 billion in revenue in 2025, while Jane Streetreported more than USD 40 billion in net trading revenue over the previous 12months. Large firms are expanding beyond high-frequency equities and investingheavily in AI, data and computing infrastructure. In retail prop trading,consolidation has coincided with growing demand and a shift towardsfutures-based evaluations. One industry survey found that a USD 100,000 futuresevaluation averaged about USD 193, compared with USD 419 for a comparable CFDevaluation, reflecting changing economics and competitive pressures.This article was written by Tareq Sikder at www.financemagnates.com.