Adidas Partners With Fitness App Stepn, Both NFTs & Merch Coming

Hi NoRamp Community,

Daily News:

1) Tether Partners With Fuze to Promote Digital Assets in Turkey & Middle East

2) Adidas Partners With Fitness App Stepn, Both NFTs & Merch Coming

3) Germany Bank LBBW to Offer Crypto Custody Services With Bitpanda

4) JPMorgan and Codat Team to Drive Virtual Card Adoption

5) Finmid Raises $24.7M To Help SMBs Access Loans

Tether & Fuze Partner, Promote Digital Assets in Turkey & Middle East:

• Tether has partnered with Fuze to promote education and adoption of digital assets in Turkey and the Middle East, underlining the benefits of using digital assets like Bitcoin and stablecoins for cross-border payments. They have signed a Memorandum of Understanding (MoU) to collaborate on various educational initiatives.

• The partnership will focus on creating educational campaigns and workshops for local financial institutions and individuals to enhance understanding and compliance with digital asset regulations. These efforts aim to facilitate the practical use of digital assets in daily transactions and improve financial infrastructure.

• Key goals include educating merchants and banks on leveraging digital assets, aligning with regulatory standards, and demonstrating the tangible benefits of digital assets for everyday use. The initiative seeks to broaden the understanding and adoption of digital assets while ensuring compliance in the evolving regulatory landscape.

Adidas Partners With Fitness App Stepn, Both NFTs & Merch Coming:

• Adidas is partnering with the Solana-based fitness app Stepn to launch the Stepn x Adidas Genesis Sneakers collection, consisting of 1,000 NFTs inspired by Adidas's iconic running shoes. The collection will debut on Stepn’s NFT marketplace Mooar on April 17.

• The partnership, spanning one year, plans multiple NFT drops and physical wearable items, integrating Stepn’s digital rewards model with Adidas's product lines. This collaboration extends Adidas's involvement in web3 and crypto, following partnerships with Coinbase, Bored Ape Yacht Club, and Bugatti.

• Stepn, a move-to-earn app that rewards users with cryptocurrency for physical activity, has 5 million registered users and previously collaborated with Asics. This partnership represents a significant blend of physical and digital ("phygital") interaction in the lifestyle and fitness industry.

  

  Source: Coindesk

Germany Bank LBBW to Offer Crypto Custody Services With Bitpanda:

• Landesbank Baden-Württemberg (LBBW), Germany's largest state-backed lender, in partnership with Austrian exchange Bitpanda, will offer crypto custody services starting in the second half of 2024. This service aims to provide secure storage and procurement of cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

• The initiative is focused on corporate clients, responding to growing demand among businesses for digital assets. LBBW's collaboration with Bitpanda leverages "Investment-as-a-Service" infrastructure to ensure high security and innovative solutions in digital assets management.

• LBBW and Bitpanda's strategic partnership emphasizes preparing a technical and regulatory foundation to support corporate clients' individual crypto strategies, enhancing their business model integration with cryptocurrencies.

JPMorgan and Codat Team to Drive Virtual Card Adoption:

• Codat and JPMorgan Chase have launched the Supplier Enablement data product to facilitate virtual card adoption by enabling businesses to easily share spending and supplier data from ERP systems and accounting software. This allows card issuers to efficiently recruit suppliers to accept virtual card payments.

• The partnership features a transition from static payment files to secure API connections, providing banks with more comprehensive data for analysis. This enhancement is expected to increase spending per client through the virtual card offerings, according to Codat's announcement.

• The initiative addresses the ongoing shift from paper checks to digital payment methods, such as virtual cards, which offer greater efficiency and cost savings. This shift is driven by factors including labor shortages that compel companies to adopt technologies that streamline operations, particularly in accounts payable and receivable departments.

Finmid Raises $24.7M To Help SMBs Access Loans:

• Berlin-based fintech startup finmid raised €23 million ($24.7 million) in a Series A funding, reaching a post-money valuation of €100 million ($107 million), to enhance embedded financial solutions for marketplaces.

• The company focuses on providing direct capital access to SMBs via marketplace partners, using integrated data to personalize financing options, exemplified by Wolt using finmid's tech to offer cash advances to restaurants.

• With the new funding, finmid plans to expand product capabilities and enter new markets, beginning with Italy, while leveraging a robust API for data-driven credit assessments and transaction facilitation within partner platforms.

NoRamp:

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