Franklin Templeton Joins Race to Launch Spot Ether ETF

Hi NoRamp Community,

Daily News:

1) Crypto Infrastructure Firm Aquanow Obtains VASP License in Dubai

2) Franklin Templeton Joins Race to Launch Spot Ether ETF

3) Revolut Adds UK Phone Plans to Bolster Super App Mission

4) Nordic Capital Snaps Up Canadian SaaS Fintech Zafin

5) Trading Technologies Branches Out With Acquisition of Ateo

Crypto Infrastructure Firm Aquanow Obtains VASP License in Dubai:

• Canadian crypto infrastructure company Aquanow has been granted a Virtual Asset Service Provider (VASP) license by the Virtual Assets Regulatory Authority (VARA) in Dubai, marking a significant step towards expanding its services in the region.

• The VASP license enables Aquanow to provide a range of services including investment, management, lending, borrowing, and broker-dealer operations in Dubai, following a thorough vetting process that underscores VARA's high regulatory standards.

• Aquanow's strategic move to Dubai, driven by the city's ambition to become a global innovation hub and leader in digital technologies, aligns with its aim to onboard new users and introduce crypto use cases and services to support Dubai's vision to become a leading Web3 hub.

Franklin Templeton Joins Race to Launch Spot Ether ETF:

• Franklin Templeton has applied for a spot ether ETF, joining other financial entities like Ark 21Shares and BlackRock in seeking to offer investments similar to direct ether investments through a regulated fund format.

• This move follows Franklin Templeton's successful launch of a bitcoin ETF in January, after obtaining approval from the Securities and Exchange Commission. The firm expresses interest in staking the ether held by the proposed ETF to earn staking rewards, a feature also considered by Ark 21Shares but not included in BlackRock's filings.

• The inclusion of staking in the ETF's operation could represent a significant development in the integration of traditional finance and digital assets, especially given that approximately 25% of the total ETH supply is currently staked. The SEC's decision on the approval of spot ETH ETFs is anticipated in May, with analysts estimating a 60% chance of approval.

Revolut Adds UK Phone Plans to Bolster Super App Mission:

• Revolut is launching phone plans, including eSIMs and global data plans, for its customers in Great Britain, marking a first among U.K. financial services firms and advancing its ambition to become a "super app."

• The eSIM technology offers seamless mobile data access for Revolut customers, allowing easy roaming and connection without the hassle of physical SIM cards or unexpected roaming charges, catering especially to travelers.

• Starting later this week, Revolut users with eSIM-compatible devices will be able to top up data on the go, ensuring uninterrupted access to the Revolut app and its features internationally. This move is part of Revolut's broader strategy to integrate banking, currency exchange, insurance, and travel services into a single app, aiming to meet the growing consumer demand for integrated digital solutions.

Nordic Capital Snaps Up Canadian SaaS Fintech Zafin:

• Nordic Capital has acquired Zafin, a Canadian SaaS provider offering core modernization solutions for banks and credit unions, enhancing Nordic Capital's technology portfolio. The acquisition amount remains undisclosed.

• Zafin, established in 2002, provides a platform that enables financial institutions to design and manage pricing, products, and packages efficiently, promising benefits like faster market time, increased revenue opportunities, and reduced operating costs and risks.

• The investment was made in partnership with Zafin’s founders and management, who will reinvest in the company, aiming to support Zafin’s growth by leveraging Nordic Capital’s operational expertise and industry relationships. Zafin is recognized for its collaborations with leading global banks, including HSBC and Wells Fargo.

Trading Technologies Branches Out With Acquisition of Ateo:

• Trading Technologies, a US-based SaaS provider for capital markets firms, is set to acquire Ateo, a French company specializing in post-trade solutions, to expand its offerings into clearing technologies, following a partnership since November 2022 that integrated Ateo's post-trade allocation engine with Trading Technologies' order management system.

• The acquisition, expected to be completed by February 29, will allow Trading Technologies to fully integrate Ateo's middle-office solutions, including the LISA Clearing Engine, into its global managed service, enhancing its trade execution, surveillance, risk management, and infrastructure capabilities.

• This strategic move aims to strengthen Trading Technologies' value proposition by tapping into the middle-office clearing solutions market, valued at at least $100 million, and follows previous acquisitions aimed at expanding its product offerings, signaling a significant scale-up in support for clients across the trading industry.

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