Doo Financial has approval from CySEC and the broker also said it has entered the Indonesian market by acquiring a local company.

ACY Securities will acquire INGOT Brokers' South Africa license. This will require upgrades for the firm to be able to offer CFDs.

Biggs has been with Finalto since 2018, working in trading roles. He was previously the company's Group Head of Risk and Trading.

The bid probably has two aims - to allow Axi to more easily add stockbroking and, secondly, to acquire a huge number of clients at low cost.

Crypto.com has said it wants to add other investment products over the next 12 months across the US, Australia and the European Union.