Polygon PoS Now Supported By Amazon Managed Blockchain Access

Hi NoRamp Community,

Daily News:

1) Crypto.com Secures Electronic Money Institution License From UK

2) Polygon PoS Now Supported By Amazon Managed Blockchain Access

3) Microsoft Taps Nuvei for Xbox and Office Payments

4) Yieldstreet to Acquire Real Estate Investment Platform Cadre

5) Valley Bank CIO Leaves to Join True Digital Network as CEO

Crypto.com Secures Electronic Money Institution License From UK:

• Crypto.com has received authorization as an Electronic Money Institution (EMI) from the UK's Financial Conduct Authority, following its registration as a cryptoasset business in August 2022.

• The EMI license enables Crypto.com to issue and manage electronic money and offer a broader range of financial services in the UK, joining other crypto firms like Coinbase, Gemini, Aave, and Kraken in obtaining similar licenses.

• CEO Kris Marszalek emphasizes the UK's significance for Crypto.com, which seeks to expand its global compliance registrations amidst increasing regulatory scrutiny. The company also holds various licenses and registrations in Singapore, the U.S., France, and Spain.

Polygon PoS Now Supported By Amazon Managed Blockchain Access:

• Amazon Managed Blockchain (AMB) now supports Polygon's proof-of-stake mainnet and Mumbai testnet, offering a fully managed service for access to public and private blockchains.

• The integration enables developers to build Web3 applications on Polygon with serverless access, free during the public preview, benefiting consumer brands, financial institutions, and game developers by facilitating NFT creation and digital asset offerings.

• This support adds to the existing partnership between AWS and Polygon Labs, furthered by the MoonRealm Express Accelerator with Animoca Brands, aiming to accelerate Web3 product development and offer significant cost savings for developers compared to self-managed infrastructure.

Microsoft Taps Nuvei for Xbox and Office Payments:

• Microsoft has partnered with FinTech company Nuvei to enhance payment technologies in the Middle East and Africa, focusing on recurring billing and individual transactions for Office and Xbox customers.

• The collaboration leverages Nuvei’s local market expertise and global payment capabilities, including optimized authorization rates, risk management, and access to local alternative payment methods through a single integration.

• Alongside this partnership, Nuvei is also expanding its offerings with the recent launch of a card issuing solution in 30 markets, planning to extend to the U.S., U.K., and Latin America, and exploring potential applications for Microsoft Dynamics 365.

Yieldstreet to Acquire Real Estate Investment Platform Cadre:

• Yieldstreet, an alternative investment platform, has agreed to acquire Cadre, a real estate investment platform targeting institutional and high-net-worth investors, with the financial terms undisclosed.

• Yieldstreet, founded in 2015, offers investment opportunities in sectors like real estate and commercial loans, while Cadre, founded in 2014, connects accredited investors to real estate operators. Cadre, once valued at $800 million, has reportedly seen a decline in value recently.

• The combined investment value of Yieldstreet and Cadre exceeds $9.7 billion, serving over 500,000 members together. Ryan Williams will remain as CEO of Cadre and become Yieldstreet’s global head of Institutional Partnerships & Clients, with all Cadre employees retained post-acquisition.

Valley Bank CIO Leaves to Join True Digital Network as CEO:

• Stuart Cook has departed from his role as Chief Innovation Officer at Valley National Bank to become the CEO of Texas-based startup True Digital Network, founded in 2022.

• True Digital Network focuses on connecting banks and credit unions with technology vendors, aiming to streamline technology adoption and facilitate collaboration in the banking industry.

• Cook's first initiative as CEO is the launch of a new app for bankers and credit union staff, serving as a vendor directory to explore over 300 banking categories and technologies, and enabling direct messaging and competitive tracking within the industry. Cook credits his experience at Valley Bank, including managing a $100 million venture capital fund, as vital preparation for his new role at True Digital Network.

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