Robinhood Grows Self-Custody Wallet Integrations With MetaMask

Hi NoRamp Community,

Daily News:

1) Bridgetower Capital & Deus X Capital Launch $250M Platform in UAE

2) Robinhood Grows Self-Custody Wallet Integrations With MetaMask

3) NFTs Are the Pillars of Digital Capitalism, Animoca Founder Says

4) Finally Raises $10 Million to Expand Small Business Automation

5) Pagaya Secures 5-Year $280M Credit Facility Led by BlackRock

Bridgetower Capital & Deus X Capital Launch $250M Platform in UAE:

• Bridgetower Middle East, a joint venture between Bridgetower Capital and Deus X Capital, has launched a digital asset platform in Abu Dhabi with a $250 million investment to serve institutional investors in the UAE and wider Middle East, aiming to enhance the region's digital asset infrastructure.

• Located in the Abu Dhabi Global Market (ADGM), the platform will provide services including secure staking on major blockchain networks, advanced AI GPU services for blockchain and AI applications, and support the incubation of startups and private equity investments in the blockchain ecosystem.

• Bridgetower ME plans to launch a web3 commerce platform to bridge traditional businesses with digital assets, establishing partnerships with global consumer brands, art markets, and sports organizations to foster blockchain adoption, contributing to Abu Dhabi's goal of becoming a global leader in digital assets and fintech.3.

Robinhood Grows Self-Custody Wallet Integrations With MetaMask:

• Robinhood Connect has integrated with the MetaMask wallet, enabling MetaMask users to purchase cryptocurrency through Robinhood's financial services, enhancing user experience and offering competitive trading options.

• The partnership, seen as a "win-win-win" by Consensys, broadens the user base for both platforms, with Robinhood expanding into Web3 and MetaMask exploring functionalities beyond the Ethereum network through its Snaps feature.

• Despite a decline in crypto trading revenue for Robinhood, this collaboration with MetaMask and previous integrations with wallets like Phantom suggest Robinhood's ongoing commitment to the cryptocurrency sector.

NFTs Are the Pillars of Digital Capitalism, Animoca Founder Says:

• Yat Siu, founder of Animoca Brands, believes the potential of non-fungible tokens (NFTs) has barely been tapped, highlighting their role in revolutionizing industries such as education and gaming by providing true digital ownership on the blockchain.

• Siu emphasizes that NFTs offer significant financial opportunities, particularly in education through platforms like TinyTap, allowing creators to monetize content directly and offering a new income stream, especially beneficial in less affluent regions.

• Despite the volatility in NFT valuations, Siu views the current market as a purification process, leaving behind those genuinely interested in the technology's utility, which he argues is crucial for promoting financial literacy and addressing global inequality. However, he also notes challenges, including skepticism towards digital capitalism in the U.S. and potential regulatory hurdles from entities like the SEC.

Atlantic Money Lands Approval to Expand Transfer Services:

• UK fintech startup Atlantic Money is set to expand its fixed-fee money transfer services to the US, Canada, and Australia after securing the necessary regulatory approvals, aiming to offer both individual and business services across these regions.

• In Canada, Atlantic Money will operate as a licensed foreign money services business with FINTRAC, and in Australia as an independent remittance dealer with AUSTRAC. The company plans to enter the US market through a sponsorship with a federally regulated US bank, having registered as a federal money services business with FinCEN.

• Having launched in the UK and Europe in 2022, Atlantic Money serves 10,000 customers in 32 countries, competing with companies like Remitly and Wise by offering transfers up to $1 million for a flat fee of $3.79. With $7.5 million in seed funding from notable investors, the fintech is preparing to launch its services in these new markets, underscoring its mission to provide reliable and secure fixed-fee transfers globally.

Pagaya Secures 5-Year $280M Credit Facility Led by BlackRock:

• Pagaya Technologies has obtained a $280 million credit facility, with BlackRock leading the investment and contributions from Israel Discount Bank, UBS O’Connor, JP Morgan Chase, and Valley Bank, aimed at supporting the fintech's growth and extending its corporate debt maturity to 2029.

• The new funding consists of a $255 million term loan and a $25 million revolver, intended to enhance Pagaya's machine learning and AI-driven solutions in consumer credit and residential real estate, as well as to fund new product investments and repay previous borrowings.

• With dual headquarters in New York and Tel Aviv, Pagaya's recent acquisition of proptech firm Darwin Homes positions it to develop a technology-forward real estate platform, while BlackRock's investment signifies ongoing interest in innovative financial services ventures.

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