Bitcoin Mining Giant Pushes Into Europe

Hi NoRamp Community,

Daily News:

1) Binance Announces Tether Integration on Toncoin Network

2) Standard Chartered to Launch Spot Trading Desk For Bitcoin & Ether

3) Bitcoin Mining Giant Pushes Into Europe As Rivals Build Out in US

4) Adyen & SumUp Partner on Accelerated Settlements

5) Mexican Fintech Unicorn Clip Lands $100M Investment

Binance Announces Tether Integration on Toncoin Network:

• Binance has integrated Tether (USDT) on the Toncoin Network, allowing users to deposit and withdraw USDT using the network, enhancing Binance’s multi-chain capabilities and providing more transaction flexibility.

• TON, a decentralized blockchain network originally developed by Telegram and continued by open-source developers, recorded a high total value locked (TVL) of over $600 million this week and partnered with Flipster to offer USDT deposits.

• The integration of USDT on TON benefits from the network's high-speed, low-cost transactions and Proof-of-Stake consensus mechanism, aligning with Binance’s strategy to support multiple blockchain networks and offering diverse digital asset management options.

Standard Chartered to Launch Spot Trading Desk For Bitcoin & Ether:

• Standard Chartered is reportedly close to launching a spot crypto trading desk for bitcoin and ether, based in London as part of its FX unit.

• The bank stated it has been working with regulators to meet institutional client demand for trading bitcoin and Ethereum, aligning with its strategy to support clients in the digital asset ecosystem, including access, custody, tokenization, and interoperability.

• Standard Chartered's involvement in cryptocurrency includes stakes in digital asset firms Zodia Custody and Zodia Markets and the launch of Libeara, a blockchain unit focused on tokenizing real-world assets.

  

  Source: Blockworks

Bitcoin Mining Giant Pushes Into Europe As Rivals Build Out in US:

• Marathon Digital is expanding into Europe, diversifying its global presence by launching a two-megawatt datacenter in Finland's Satakunta region to help heat a town of 11,000 people through district heating, a process that decarbonizes urban heating.

• This initiative follows Marathon's pilot project in Utah using landfill methane gas, demonstrating the viability of using such gas for digital asset compute, and aligns with their strategy to find innovative, sustainable uses for their datacenters, said CEO Fred Thiel.

• Marathon’s geographic diversification includes operations in North America, the United Arab Emirates, and Paraguay, and plans to explore Africa, contrasting with competitors like CleanSpark, Core Scientific, and Riot Platforms, who are focusing more on US expansion.

Adyen & SumUp Partner on Accelerated Settlements:

• Adyen and SumUp have partnered to offer accelerated settlements for small businesses in Europe and the United Kingdom, enhancing SumUp’s near-instant settlement services already used by over 4 million merchants in 36 markets.

• This collaboration will enable SumUp to provide same-day settlements, seven days a week, allowing SMBs to receive their funds within minutes after a sale, thereby improving cash flow and reducing the need for large working capital reserves.

• Adyen's partnership with SumUp is part of a broader strategy that includes recent collaborations with Cover Genius to boost online payment authorization rates, Adobe to enable payments for global enterprise merchants, and Cleeng to support its expansion in the MENA region.

Mexican Fintech Unicorn Clip Lands $100M Investment:

• Mexican digital payments platform Clip has secured $100 million from investment funds managed by Morgan Stanley Tactical Value (MSTV) and an unnamed West Coast mutual fund manager.

• The funds will drive product development and expand offerings across Mexico's economy, according to Clip's founder and CEO, Adolfo Babatz. This investment values Clip in line with its 2021 Series D round, which valued the company at $2 billion.

• Clip, founded in 2012, aims to support SMBs with digital payment solutions, BNPL capabilities, POS devices, business loan services, and merchant-specific APIs, and plans to increase its workforce by 150 employees in the coming years.

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