Capital One Acquires Discover Financial Services in $35bn Deal

Hi NoRamp Community,

Daily News:

1) PostFinance Starts Offering Crypto in Partnership With Sygnum

2) Farquhar Venture Capital Partners With TZ APAC

3) 9dcc's First Full NFT Fashion Collection

4) Capital One Acquires Discover Financial Services in $35bn Deal

5) Personetics Appoints Udi Ziv As New CEO, David Sosna Steps Down

PostFinance Starts Offering Crypto in Partnership With Sygnum:

• Switzerland's PostFinance has partnered with crypto bank Sygnum to launch a new retail cryptocurrency offering for its 2.5 million customers, becoming the first systemically important Swiss bank to offer regulated trading and custody for eleven cryptocurrencies including Bitcoin and Ethereum.

• The partnership with Sygnum will integrate the crypto offering into PostFinance's existing infrastructure, providing customers with 24/7 access to trading and custody, secure login from any PostFinance account, and a trusted Swiss banking partner.

• PostFinance joins over 15 other Swiss and international financial institutions on Sygnum's B2B platform, which offers FINMA-regulated digital asset services, and follows a recent collaboration between Safe and Sygnum Bank to launch a suite of crypto recovery options.

Farquhar Venture Capital Partners With TZ APAC:

• Yuga Labs, the creator of Bored Ape Yacht Club, has acquired Proof, the NFT startup behind the Moonbirds collection and the Proof Collective membership program, integrating the Proof team and Moonbirds collection into its upcoming Otherside metaverse game.

• Proof co-founder and CEO Kevin Rose will assist with the handover before becoming an advisor to Yuga Labs, with the acquisition discussions turning quickly from initial outreach to a finalized deal.

• Yuga Labs plans to continue running the Proof Collective and align the Proof brand with its art world efforts, while the integration of Moonbirds into the Otherside game is seen as a perfect fit, with the future of the Proof branding still under consideration.

9dcc's First Full NFT Fashion Collection:

• Connected fashion brand 9dcc has unveiled its first full luxury fashion line, the 9dcc Collection 01, set to debut this week in France at NFT Paris and Paris Fashion Week, featuring over 60 items including coats, pants, and hooded sweatshirts made from materials sourced from Italy, Japan, and the United States.

• Each item in the collection comes with a sewn-in NFC chip corresponding with an Ethereum NFT, which is used to prove authenticity and unlock community features, such as the ability for creators to digitally sign apparel and have it remain linked to the NFT.

• The 9dcc Collection 01 is targeted at the "crypto mob," drawing inspiration from Yakuza street style and gangster cinema, and is designed for tech founders and modern mavericks who prefer subtlety over ostentation. The collection will be available for pre-purchase at the Paris events, with a focus on bridging connections with culture and fostering deeper interactions.

Capital One Acquires Discover Financial Services in $35bn Deal:

• Capital One is set to acquire Discover Financial Services in an all-stock transaction valued at $35.3 billion, aiming to build a global payments company and enhance its position as a major financial services provider with $348.4 billion in deposits and $478.5 billion in total assets.

• Discover Financial Services, founded in 1986, is a prominent digital banking and payment services company and one of the largest card issuers in the US, and its acquisition is expected to complement Capital One's capabilities and customer base.

• The transaction, planned to close in late 2024 or early 2025, is subject to regulatory and shareholder approvals and is expected to deliver a return on invested capital of 16% in 2027, with an internal rate of return of over 20%. Upon completion, three Discover board members will join Capital One's board of directors.

Personetics Appoints Udi Ziv As New CEO, David Sosna Steps Down:

• AI-powered personalized customer engagement platform Personetics has appointed Udi Ziv as its new CEO, following the decision of co-founder David Sosna to step down after a 13-year tenure.

• Personetics, which serves over 130 financial institutions and has 135 million clients globally, plans to focus on rapid growth and expansion under Ziv's leadership, leveraging its AI technology to analyze financial data, predict customer behaviors, and automate financial wellness programs.

• Ziv brings extensive experience as a CEO, having held positions at Kissterra, Earnix, and Pontis, as well as roles at NICE Systems and SAP, with outgoing CEO Sosna expressing confidence in Ziv's capabilities to lead the company's next phase of growth.

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