B2Broker CEO Attends ARFIN 2021: Key Contributor on Digital Currencies
B2Broker CEO, Arthur Azizov has just concluded another key appearance at one of the industry's most important events. As part of the company's efforts to stay ahead of global developments in the Forex industry and help steer the way in terms of thought leadership, Arthur participated in the ARFIN annual conference which took place on 30th March, 2021.
This year's conference was dedicated to summarising the results of the last 5 years of ARFIN's regulatory work of the Forex market of the Republic of Belarus, revealing that the trade volume of the Belarusian Forex market had reached $140 billion with the number of clients of licensed companies reaching 54,000.
Leading Industry Event
The event was attended by leading industry representatives from the National Bank, ARFIN, Forex companies, banks, foreign associations, mass media and foreign investors, drawing many prominent figure-heads who congregate annually to share their insights on the latest hot topics and developments.
The conference was opened by moderator Alexey Sidorov, Chairman of the Board of the Association for the Development of Financial Markets (ARFIN) who then handed the reins to Dmitry Nabzdorov, Head of the Main Department for Regulation of Non-Credit Financial Organizations and Investment Operations of the National Bank of the Republic of Belarus. Dmitry Nabzdorov continued by announcing the official data on the growth of clients of Belarusian Forex companies and banks during the period with positive overall financial results for clients all round.
Data revealed that the number of market entities grew from 16 to 20 organizations during the year and highlighted the segment's positive development. This was reflected by the number of clients in the Belarusian Forex market which had doubled in the same period from around 27,000 to 54,000 by the end of 2020. It was also reported that around 8 million customer transactions were made, compared with less than 4 million during 2019, an increase in the Forex market of over 50%, with annual trading volume totalling $139.2 billion - up from $46.2 billion year on year.
Arthur Azizov contributed to the conference with his speech entitled, "Digital currencies. New opportunities for Forex Market", which was instrumental to the success of the event, helping to raise the awareness of the growing impact of digital currencies both in society and on a national level.
Arthur continues to push for increased crypto acceptance in Belarus and is an ardent supporter of industry regulation as the way towards the complete legitimisation of the Forex industry and related business practices. Back in February 2020, B2Broker notably became the first regulated Forex Prime Broker (PoP) in Belarus after securing its NBRB license which was issued under the name of Prime Brokerage Services Limited (B2Prime), part of B2Broker group of companies. The company is now ideally placed to onboard clients in its efforts to expand its business.
The conference concluded with an outline of a proposal of the National Bank for 2021 which would see the number of clients and transactions performed within a year double. Dmitry Nabzdorov added that the time has come to call the Belarusian Forex companies, as in Europe," investment "companies in order to create a better understanding for foreign investors and clients.
Check out our photo gallery and video of the event below.