London Stock Exchange to Launch Crypto ETNs

Hi NoRamp Community,

Daily News:

1) ApeCoin DAO Multi-Year Partnership With Redacted Formula One Team

2) Turkey’s Misyon Bank Taps Taurus For Custody & Tokenization Services

3) London Stock Exchange to Launch Crypto ETNs on May 28

4) Investment Management Platform FundGuard Bags $100M

5) BNP Paribas Launches Innovative Global Net Zero Transition Equity Fund

ApeCoin DAO Multi-Year Partnership With Redacted Formula One Team:

• The APE Foundation is facilitating an AIP for a confidential partnership with a Formula One (F1) racing team, "Redacted," which finished in the Top 6 of the 2023 Constructor Standings.

• The proposed multi-year partnership between ApeCoin DAO and Redacted aims to provide unparalleled brand exposure on a global stage, with benefits including increased brand visibility, community engagement, and marketing opportunities across various channels.

• The partnership objectives include enhancing global awareness of ApeCoin DAO, expanding the ApeCoin community through Redacted events and curated experiences, and creating authentic storytelling to demonstrate ApeCoin utilities through Redacted's Web3 initiatives.

Misyon Bank Taps Taurus For Custody & Tokenization Services:

• Misyon Bank of Turkey has partnered with Swiss firm Taurus to enhance its digital asset custody and tokenization services, aiming to make Turkey a regional hub for these services.

• Turkey is advancing in crypto-asset legislation and has seen various tokenization initiatives, with Misyon Bank's collaboration expected to boost the country's competitiveness in asset storage and tokenization.

• The global value of tokenized funds has surged, with notable examples in the U.S., and DigiFT has launched US Treasury bill depository receipt tokens, providing fractional ownership in US Treasury bills to investors.

  

  Source: Cointelegraph

London Stock Exchange to Launch Crypto ETNs on May 28:

• The London Stock Exchange (LSE) will launch cryptocurrency exchange-traded notes (ETNs) tracking Bitcoin and Ether on May 28, with applications opening on April 8 and listing contingent on approval by the Financial Conduct Authority (FCA).

• The ETNs, available only to professional investors due to the FCA's ban on crypto derivatives and ETNs for retail investors, must be physically backed, non-leveraged, and meet specific requirements, including cold storage of underlying assets by a licensed custodian.

• The LSE's move follows the U.S. SEC's approval of spot Bitcoin ETFs and aligns with the FCA's goal to tighten measures against crypto market abuse, with improved monitoring and intervention systems and new rules for crypto-related marketing.

Investment Management Platform FundGuard Bags $100M:

• FundGuard, a New York-based investment management and administration platform, has raised $100 million in a Series C funding round led by Key1 Capital, with participation from new investors Euclidean Capital and Hamilton Lane, as well as previous backers like Blumberg Capital and Team8.

• The company, founded in 2018, offers a SaaS investment accounting platform that utilizes AI and cloud-native technology to modernize investment accounting operations for asset managers and service providers managing various funds.

• With the new funding, FundGuard plans to further invest in product development, accelerate the deployment of new capabilities, and expand its market reach, having already opened new offices in Boston, London, and Toronto since its Series B round.

BNP Paribas Launches Innovative Global Net 0 Transition Equity Fund:

• BNP Paribas Asset Management is launching the BNP Paribas Global Net Zero Transition Equity fund to align with sustainability goals and address climate change, in response to increasing demand for net-zero investment products.

• The Luxembourg-domiciled equity fund offers a diversified strategy across sectors, regions, and market capitalizations, focusing on companies committed to decarbonization and sustainable growth, with a strong representation in technology, industrials, and materials.

• The fund is actively managed, classified as Article 8 under the SFDR, committed to sustainable investments, and includes a charity share class supporting Electriciens Sans Frontières, aiming to provide an innovative strategy aligned with net zero commitments and leveraging social and environmental expertise.

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