European Banking Authority Finalizing Stablecoin Policy 

Hi NoRamp Community,

Daily News:

1) Zodia Markets Partners With Fireblocks

2) European Banking Authority Finalizing Stablecoin Policy 

3) Mastercard Pilots Smart Subscriptions Powered By Open Banking

4) Perfio Lands $80M Investment From TVG

5) Robeco & Swiss Pension Group Forge Sustainable Investment Partnership

Zodia Markets Partners With Fireblocks:

• Zodia Markets, a Standard Chartered-backed crypto exchange, and Fireblocks, a crypto custody technology provider, have partnered to improve cross-border payments by utilizing digital assets, specifically stablecoins.

• The collaboration will integrate Zodia Markets' multi-currency digital asset execution capabilities with the Fireblocks Network to enable quick and cost-effective transfers, addressing the challenges of slow transaction speeds and high costs in traditional cross-border payments.

• Fireblocks is expanding its team in anticipation of the crypto bull market and aims to drive innovation across financial and non-financial sectors, with a focus on securely delivering new on-chain applications, products, and services at scale.

European Banking Authority Finalizing Stablecoin Policy:

• The European Banking Authority (EBA), in partnership with the European Securities and Markets Authority (ESMA), has released a final draft of regulatory technical standards for stablecoin issuers as part of the Markets in Crypto-Assets Regulation (MiCA) implemented by the European Union.

• The standards require stablecoin issuers to publish their complaint-handling procedures and establish a standardized process for customers to submit complaints, including provisions for acknowledging receipt, assessing admissibility, and requesting additional information if necessary.

• The final draft, which includes amendments based on public feedback, such as data protection provisions and updates to complaint forms, will be submitted to the European Commission for endorsement by the end of June 2024, before being approved by the European Parliament and the Council.

Mastercard Pilots Smart Subscriptions Powered By Open Banking:

• Mastercard is piloting a new Smart Subscriptions management solution in the US, leveraging open banking technology from its subsidiary Finicity and its Subscriptions Control feature.

• The white-label solution allows consumers to cancel, pause, and resume subscriptions from a single hub, offering spend analysis, expenditure categorization, and reduced risk of chargebacks through a low-lift API.

• Mastercard plans to expand the solution to additional markets later this year, aiming to drive consumer loyalty and engagement by providing greater visibility into financial wellness.

Perfio Lands $80M Investment From TVG:

• Indian B2B SaaS fintech Perfios has received an $80 million investment from Teachers' Venture Growth (TVG), part of the Ontario Teachers' Pension Plan.

• Perfios, which operates in 18 countries across Southeast Asia, Africa, and the Middle East, plans to use the funding to expand its global presence and explore inorganic growth opportunities.

• The investment follows Perfios' $229 million Series D round in September and reportedly values the company at over $1 billion, making it India's latest fintech unicorn.

Robeco & Swiss Pension Group Forge Investment Partnership:

• Robeco collaborates with the Swiss Association for Responsible Investments (SVVK-ASIR) to advance sustainable investing, focusing on human rights, business ethics, and environmental protection.

• The partnership aims to engage with companies on critical issues like biodiversity loss, climate change, and human rights, leveraging Robeco's stewardship experience and SVVK-ASIR's influence in Switzerland.

• Robeco's 2022 Stewardship report highlights its engagement with 215 companies and participation in 5,000 shareholder meetings, while SVVK-ASIR's approach emphasizes dialogue for positive change with portfolio companies.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.