Page 60 - May 2022 Issue 606

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Wael Makarem (Senior Market Strategist MENA – Exness)

Cryptocurrencies and NFTs have huge
potential to revolutionize industries
and streamline processes

The Exness Group is an international, award-winning retail forex broker founded in
2008. With a deep understanding of traders’ needs, the forex company provides
accessible, stable, and reliable brokerage services through the use of modern trading and
investment technologies. Clients of the Exness Group have the opportunity to trade forex
currency pairs, precious metals, and CFDs, under some of the best trading conditions the
industry has to offer, including instant withdrawal of profits and outstanding order
execution. Wael Makarem, who joined The Exness Group in August 2021 as the Senior
Market Strategist for the MENA region, has been in the financial services industry for
almost a decade and has held positions as a trader, private banker and market analyst.
At Exness, with his long-standing experience in the Forex and CFD industry, he conducts
daily market analysis featuring the impact of important events taking place in the global
financial markets, with a specific focus on traders in the MENA region. Al Bayan met
Mr. Makarem and following is the interview conducted.

“ Exness is on a growth trajectory and our 1200+ employees are working hard to keep this pace ”

* First, with the recent economic developments, where do you see the on many levels, a complex matter, but we are seeing progress.
financial markets being influenced the most? Specifically, the mar- It is undeniable that the financial sector is experiencing a significant trans-
kets in the Arab world? formation. This is not only visible from consumer interest, demand, and
- The world’s attention has turned to commodities, especially after the behaviour but also from the business side. Tech and fintech companies,
tremendous rally in oil prices and other essential commodities. We are wit- like Exness, are exploring the possibilities of crypto and blockchain, and
nessing significant potential and possibilities for shifts in power and diver- these possibilities are endless.
sification from dependencies. On the one hand, the West is exploring new It may be too early to adopt crypto as a legal tender, as a concept and tech-
avenues [and pipelines] to decrease its dependence on natural gas and oil nology, but it looks like this day will eventually come; the key is to prepare
while the Middle East is looking to diversify its commodity imports, espe- for it and this is exactly what many countries and central banks around the
cially wheat. world are doing.
On the consumer side, the prices of energies, metals and soft commodities
have risen substantially, while policymakers are looking for ways to control * And how do you see the future of trading, in Crypto or digital cur-
inflation. The Middle East may not be significantly affected on the energy rencies?
end, but the scarcity of soft commodities will be challenging. - This isn’t an either-or scenario. Both crypto and digital currencies have
If these new developments continue to persist, they will set the scene in the potential in the world economy. On the one hand, cryptocurrencies and
markets and extend the volatility in certain asset classes while some NFTs, further to their existence in the markets, have huge potential to rev-
traders may rush to safe havens. olutionize industries and streamline processes and procedures. On the
other hand, CBDCs (Central Bank Digital Currencies) will help with mass
* Where do you think profitable investment opportunities lie today? adoption, not to mention with regulating this space.
- One can never really pinpoint where profitable opportunities lie and Both have real-world benefits and both can contribute to the other’s estab-
investment advice is not something we give in this manner. In general, all lishment. CBDCs will help with mass adoption, and crypto will help with
financial instruments provide traders with opportunities as they allow them exploring new technologies and infrastructures. Furthermore, it is very
to benefit from rising and falling markets. What affects the trading outcome hopeful to see policymakers taking the necessary steps to define this space
for the most part is the personal trading style/strategy used by a trader, as and create the environment for digital currencies as a whole. The EU and
well as their risk appetite. the US governments are key players in this and the next few years are
In terms of what is popular right now, there is generally a heavy interest in going to be crucial for both regulation as well as digital currency creation.
energies, precious metals, and commodities, all of which are heavily
impacted by the geopolitical landscape. Another asset class that has been * What are your main goals for this year?
a hot topic in the financial world for a while now is crypto. Cryptocurrencies - We have just hit another record-breaking milestone by reaching $2 trillion
draw attention because of their price fluctuations, the continuous discus- in monthly trading volume for the month of March. Exness is on a growth
sions on their real-world potential, the regulatory framework being dis- trajectory and every single talent of our 1200+ employees is working hard
cussed by policymakers, and the Central Bank Digital Currencies. to keep this pace up.
We will continue our expansion plans, while we consistently focus on our
* What is your opinion on Central Bank Digital Currencies? Is it too promise to provide our clients with a frictionless trading experience. As a
early to see light? And what do you have to say about the crypto reg- fintech company, we will, of course, invest heavily in new technologies and
ulatory framework? continue to explore the financial markets landscape.
- The crypto space is still considered new and requires much deliberation De-Fi, crypto, and blockchain are definitely topics which draw our attention.
and examination. Policymakers and central banks around the world are For this reason, we have recently collaborated with the University of
examining this space, not only looking for ways to create a regulatory Nicosia, the first university in the world to offer blockchain and crypto cours-
framework around it but also contemplating the possibility of developing es, to give Exness employees the chance to enrich their knowledge
their own digital currencies, as an equivalent to their fiat counterparts. It is, on the matter.

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