Immutable Debuts Passport With Google and Apple Integration

Hi NoRamp Community,

Daily News:

1) Crypto Asset Manager 7RCC Applies to Offer Bitcoin ETF

2) Immutable Debuts Passport With Google and Apple Integration 

3) Ripple Secures Registration in Ireland Ahead of MiCA Rollout

4) Revolut Aims for $1.9 Billion in Revenue for 2023

5) Chime Appoints Shara Chang as Chief Compliance Officer

Crypto Asset Manager 7RCC Applies to Offer Bitcoin ETF:

• 7RCC, a crypto asset manager, has filed with the U.S. SEC to offer a spot bitcoin ETF, combining bitcoin and Carbon Credit Futures in its investment strategy as per its S-1 filing.

• The proposed ETF, which aims to reflect the daily price changes of bitcoin and the value of Carbon Credit Futures, will be 80% bitcoin and 20% Carbon Credit Futures, tracked by the Vinter Bitcoin Carbon Credits Index.

• This move by 7RCC, focusing on environmental, social, and governance investing, appoints Gemini as the custodian for the bitcoin in the fund. This follows similar filings by major asset managers like BlackRock and WisdomTree, coinciding with a 4.4% rise in bitcoin price.

Immutable Debuts Passport With Google and Apple Integration:

• Immutable introduces "Immutable Passport," a wallet infrastructure allowing users to create and restore wallets using Google or Apple accounts or email addresses, already adopted by five gaming apps with over 500,000 collective users.

• The Passport's features include a user-friendly dashboard for discovering games, managing funds, linking wallets, and handling in-game items, and it has proven more effective in user conversion, with a completion rate over twice that of traditional wallet methods.

• Immutable Passport secures users' funds through Magic's software, encrypting and storing private keys in an Amazon Web Services Hardware Security Module, ensuring a noncustodial login solution where users don't entrust funds to Immutable.

Ripple Secures Registration in Ireland Ahead of MiCA Rollout:

• Ripple selects Ireland as its gateway to the European Union, registering with the Central Bank of Ireland as a virtual asset service provider and planning to acquire an Irish license in response to upcoming EU-wide crypto regulations.

• The new Markets in Crypto-Asset regulation, effective by next year's end, allows firms to use a license from any EU member state to access the entire EU market, bolstering confidence in digital assets and fintech.

• This strategic move, mirroring Coinbase's choice of Dublin for its EU headquarters, comes amidst Ripple's ongoing legal battles in the U.S., highlighting Europe's appeal with clearer regulations for crypto services and tokens.

Revolut Aims for $1.9 Billion in Revenue for 2023:

• British FinTech Revolut is projected to earn $1.9 billion in revenue this year, a significant increase from last year's $1 billion, with monthly revenue averaging around $158 million in the first half of the year and nearly 40 million customers globally.

• Despite financial growth, Revolut faces challenges, including delays in obtaining a U.K. banking license, concerns over revenue reporting accuracy, and late filing of audited accounts for the previous year.

• The company's efforts to secure a U.K. banking license, now in its third year, are closely watched, as success would enable expansion into new product areas; however, external factors like banking sector instability and a downturn in venture funding pose additional hurdles.

Chime Appoints Shara Chang as Chief Compliance Officer:

• San Francisco-based neobank Chime appoints Shara Chang as its new chief compliance officer, bringing her 15 years of experience in financial services, fintech, and consumer protection.

• Chang's career includes roles such as chief legal officer at Divvy Homes, chief compliance officer at Peach Finance, and associate general counsel roles at Meta and Affirm, focusing on regulatory compliance, risk management, and product development.

• In her role at Chime, Chang is responsible for regulatory compliance and aims to build trust with members, banking partners,

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