Why Are Brokers Ignoring the Stablecoin Boom?
Stripe’s public embrace of stablecoins may be the clearest sign yet that the digital dollar era is here. In its 2024 annual letter, the fintech giant called stablecoins a gateway to “near-instant, near-free global transactions.” It wasn’t just talk—Stripe backed it up with a $1.1 billion acquisition of Bridge, a startup specializing in stablecoin infrastructure. Ripple followed suit, spending $1.25 billion to acquire Hidden Road. Meanwhile, Coinbase CEO Brian Armstrong is publicly urging U.S. regulators to accelerate stablecoin clarity, as over $150 billion in supply now powers global transfers, savings, and payments.
The data confirms this shift: Tether alone reports more than 109 million wallets holding USDT, with 54 million containing at least one cent. Other stablecoins, including USDC and DAI, represent another 13.8 million wallets, while active users across stablecoins hit 22 million by the end of 2024. Yet despite this wave of adoption, the retail brokerage space has been slow to respond. Brokers remain hesitant—held back by outdated tech stacks, compliance uncertainty, or simply risk aversion.
But the strategic upside is hard to ignore. Stablecoins can eliminate funding delays, reduce transaction costs, and offer a seamless experience to traders worldwide. A user in Brazil or Nigeria can fund instantly with USDC and start trading in minutes, bypassing traditional banking barriers. Brokers benefit too: faster deposits mean faster activation, lower churn, and higher conversion rates. Idle balances can even generate yield, turning passive funds into a retention tool. In today’s competitive landscape, this isn’t a niche perk—it’s a differentiator. Just as neobanks and wallets already offer interest on stablecoin deposits, brokers could follow suit with 2–4% APY options, aligning with the expectations of today’s yield-conscious customers.
Beyond functionality, stablecoins present a marketing edge. Campaigns centered on instant funding, borderless trading, and passive earnings would resonate with digitally-native users who demand more than just access—they expect experience. A brokerage that integrates stablecoins signals innovation and global readiness, positioning itself ahead of legacy rivals.
So why the resistance? For some, the regulatory fog hasn’t lifted. Others worry about the technical lift of integrating stablecoin infrastructure. And reputational concerns linger—some still associate stablecoins too closely with speculative crypto assets. But the tide is turning. Stripe’s endorsement, Ripple’s strategic move, and growing adoption by Fortune 500s are helping reframe stablecoins as financial tools, not fringe tokens.
Stablecoins are no longer a backend feature reserved for crypto exchanges. They’re becoming a frontline advantage for brokers—powering faster deposits, higher retention, and stronger customer trust. As the user base surpasses 100 million and stablecoins go mainstream, brokers face a choice: evolve now and lead the change, or wait—and risk being left behind.
Morgan Stanley Launches New E*Trade Platform for Active Traders
Morgan Stanley’s brokerage unit ETrade is set to launch a new trading platform targeting highly active investors. Named “Power ETrade Pro,” the platform is currently in a pilot phase and is scheduled for full rollout in June. The platform introduces a range of advanced tools and customization features designed to cater to professional and high-frequency traders, further intensifying competition with existing offerings like Charles Schwab’s Thinkorswim and Robinhood Markets’ Legend.
Power E*Trade Pro will feature a standalone desktop application alongside web and mobile interfaces. Users will be able to configure up to 120 different tools across six screens, offering significant flexibility and analytical depth. Jed Finn, Morgan Stanley’s Head of Wealth Management, stated that the new platform was developed in close consultation with some of the most sophisticated traders in the industry, aiming to deliver capabilities that enable them to elevate their trading performance.
The rollout comes at a time of heightened trading activity following renewed geopolitical tensions and economic shifts. The announcement coincided with a spike in global trading volumes, partly driven by President Donald Trump’s new round of global tariffs, which were unveiled on April 2 and dubbed “Liberation Day” by his supporters. These measures created fresh volatility across markets, benefiting brokerage firms by increasing client engagement.
Brokerage platforms like XTB and GCEX have reported record-breaking trading activity in the wake of the announcement. XTB revealed that its volumes tripled compared to levels seen during the pandemic, while GCEX noted several of its strongest trading days to date. Gold-i’s platform also saw a surge, with a tenfold increase in price update traffic and a fivefold increase in trading activity. Within this environment, E*Trade reported that April 4 and 7 were the platform’s busiest trading days in over three years.
Morgan Stanley’s acquisition of ETrade in 2020 for USD 13 billion significantly bolstered its retail brokerage arm. With over five million retail accounts and USD 360 billion in assets, the firm has continued to invest in digital tools and platforms aimed at attracting and retaining high-value trading clients. The launch of Power ETrade Pro represents a further step in that direction.
Axi Loses Safewealth Bid to Syfe’s AUD 65 Million Offer
Retail CFDs broker Axi has failed in its attempt to acquire the Australian trading platform Selfwealth, with Singapore-based investment platform Syfe emerging as the successful bidder. The deal, worth AUD 65 million in cash, was approved by Selfwealth shareholders and will lead to the company’s delisting from the Australian Securities Exchange. Once the acquisition is completed, expected by May 7 pending court approvals, Selfwealth will operate under the new brand “Selfwealth by Syfe.”
The bidding process for Selfwealth involved three competing firms, including Axi and Bell Financial Group. Axi had proposed an offer of AUD 0.23 per share, valuing the deal at around AUD 52 million, which narrowly beat Bell’s bid by 1 cent per share. However, Syfe’s final bid of AUD 0.28 per share represented a 133% premium to Selfwealth’s closing price of AUD 0.12 before the bidding began in November 2024, ultimately securing shareholder approval.
Syfe’s Founder and CEO Dhruv Arora highlighted Selfwealth’s solid user base and reputation in the Australian market as key strategic advantages for the acquisition. He expressed confidence that the integration would strengthen Syfe’s presence in Australia, complementing its existing operations in Singapore and Hong Kong. Selfwealth CEO Craig Keary praised the platform’s evolution under its refreshed leadership, noting that significant progress had been achieved in a short period to adapt to evolving customer needs. Founded in 2012 and listed in 2017, Selfwealth currently serves about 129,000 active investors and manages AUD 10.7 billion in client funds. The company recorded AUD 27.6 million in revenue and AUD 3.4 million in net profit for the fiscal year ending June 30, 2024.
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