Robinhood Crypto Launches in EU With Bitcoin Rewards Program

Hi NoRamp Community,

Daily News:

1) IBM Introduces New Cold Storage Tech for Crypto Assets

2) Robinhood Crypto Launches in EU With Bitcoin Rewards Program

3) BitMEX Announces Strategic Partnership With PowerTrade

4) Citi Invests in Icon Solutions

5) Liberis Receives $112M in Debt to Fuel Expansion in NA & Europe

IBM Introduces New Cold Storage Tech for Crypto Assets:

• IBM has introduced the IBM Hyper Protect Offline Signing Orchestrator (OSO), a cryptographic signing technology designed to securely manage digital assets in cold storage, reducing risks associated with manual processes while maintaining offline protection.

• The OSO technology adds extra security layers for high-value transactions, including operations disconnected from networks, time-based security, and electronic approval by multiple stakeholders, addressing the human interaction limitations of traditional cold storage.

• IBM's new technology is being utilized by Ripple-owned custody firm Metaco, with increasing regulatory demands for cold storage solutions in markets like Singapore, Hong Kong, and Japan, underscoring IBM's growing involvement in digital asset and cryptocurrency security.

Robinhood Crypto Launches in EU With Bitcoin Rewards Program:

• Robinhood is launching its crypto trading app in the EU, featuring a Bitcoin rewards program that offers customers a percentage of their trading volume back in BTC each month.

• The rewards program includes a referral system with potential earnings of up to 1 BTC for signing up and referring friends, with a tiered reward structure based on trading volume. Initially, users won't be able to transfer crypto in or out of the platform, but this feature is planned for the future.

• This expansion follows the platform's recent UK launch, offering trading in over 25 cryptocurrencies. Robinhood's decision to expand in the EU aligns with the region's comprehensive crypto asset regulation, MiCA, which facilitates unified regulation across EU member states. The app is available for EU citizens over 18 in eligible countries.

BitMEX Announces Strategic Partnership With PowerTrade:

• BitMEX, a leading crypto derivatives exchange, has announced a partnership with crypto options platform PowerTrade, intending to introduce new products and enhance its existing offerings.

• Established in 2014, BitMEX offers a range of services including over 100 derivatives contracts and spot trading pairs, with a focus on security, low latency, and deep liquidity. This collaboration with PowerTrade is aimed at meeting the evolving needs of professional cryptocurrency traders.

• Alongside this partnership, BitMEX continues to innovate, recently launching prediction markets for betting on various events and introducing a new Fantom perpetual swap contract. The platform also maintains transparency by publishing Proof of Reserves and Proof of Liabilities, and offers incentives for new users with BMEX tokens.

Citi Invests in Icon Solutions:

• Citi has invested in Icon Solutions, a payments technology company, as part of its efforts to modernize its payments platform and expand the use of Icon's Payment Framework (IPF) to enhance micro-services orchestration architecture.

• The investment is aligned with Citi's recent initiatives, including the launch of Citi Token Services for blockchain-based financial services and a suite of payment solutions for financial institutions, aimed at improving cash management and trade finance.

• Citi is focusing on connected commerce and the importance of offering multiple payment options at checkout, as emphasized by Terry O’Neil of Citi Retail Services. This approach reflects consumer demand for diverse payment methods and the potential of payment products to drive loyalty and repeat purchases.

Liberis Receives $112M in Debt to Fuel Expansion in NA & Europe:

• UK-based embedded finance platform Liberis has raised $112 million in debt financing from HSBC Innovation Banking and BCI Capital to expand into North America and Europe, including plans to enter Canada, Germany, and Poland in 2024.

• The company aims to address the $5.2 trillion funding gap faced by small businesses by offering personalized funding options using AI and ML algorithms to analyze business data and form risk profiles.

• Liberis, founded in 2007, works with 25 global strategic partners, reaching over 1.5 million small businesses, and has provided nearly $1.5 billion in funding through over 60,000 transactions, countering traditional banks' inflexible lending criteria for SMEs.

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