Eightcap has expanded its partnership with payment platform Orbital to handle stablecoin transactions across more than 120 countries, making digital currencies a core part of how the broker processes client funds and partner settlements.

The Melbourne-based firm, which started working with Orbital in 2019, now sees stablecoins account for 10% to 20% of total deposits globally. In Latin America and Southeast Asia, that figure climbs to 40%, reflecting limited banking infrastructure and stronger demand for crypto-based funding methods in those markets.

Stablecoin Usage Climbs

Eightcap integrated stablecoin payments in 2020, years before most regulated brokers offered the option. The broker now processes deposits and withdrawals across multiple blockchain networks, including BNB Chain, Polygon, Tron, and TON, aiming to cut transaction costs and speed up settlement times.

"Our partnership with Orbital has given us the regulated infrastructure and reliability needed to support both B2C traders and B2B partners across emerging and established markets," said Patrick Murphy, Chief Operating Officer at Eightcap.

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"As we expand our embedded partnerships, stablecoins provide a secure and efficient way to fund and settle trading activity across our ecosystem."

As FinanceMagnates.com exclusively reported in June, Eightcap secured a Category 5 license from Dubai's Securities and Commodities Authority through a local entity established in January. The company also re-entered the prop trading space.

Embedded Trading Pushes Infrastructure Demands

Beyond retail traders, Eightcap is building partnerships with crypto exchanges and fintech platforms that want to offer derivatives trading to their users. Stablecoins serve as the payment layer connecting traders, partners, and treasury operations within this network.

Orbital, which processed over $5.6 billion in cross-border payments last year, holds licenses across multiple jurisdictions and meets security standards including SOC2 Type 2 and ISO 27001. The company provides both traditional currency and stablecoin rails for businesses operating globally.

"Eightcap recognized the potential of stablecoins early and executed on it decisively, with Orbital's infrastructure supporting that journey from the beginning," said Chris Mason, CEO of Orbital. "Together we've shown that cross-chain stablecoin payments can operate at scale, giving institutions the agility of crypto with enterprise-grade standards."

Leadership Changes Follow Business Shifts

Eightcap has reshuffled its management team in recent months. Ollie Rosewell was promoted to CEO of the broker's UK entity in October after serving as Commercial Director and spending nearly five years as Chief Marketing Officer. Rosewell previously worked at IG, ETX Capital, and London Capital Group.

Alex Howard departed as CEO in September after joining in early 2023 to replace Joel Murphy. The broker has not announced a replacement. In August, Michael Clifton-Jones was promoted to Group Chief Commercial Officer after joining earlier in the year as Global Head of Embedded.

Neil Emmerson joined as Head of UK Trading Risk in September, bringing experience from CMC Markets and nearly 11 years at IG. Eightcap also secured a Category 5 license in Dubai in June, adding to its existing authorizations from the FCA, ASIC, CySEC, and regulators in the Bahamas, UAE, and Seychelles.