Solana Mobile to Sell Second Crypto Smartphone

Hi NoRamp Community,

Daily News:

1) Crypto Exchange Gemini Receives Approval for Launch in France

2) Solana Mobile to Sell Second Crypto Smartphone

3) Crypto Exchange WOO X Raises $9M to Improve Liquidity

4) Digital Onboarding Grabs $58M to Help Banks W/ Customer Engagement

5) Pomelo Stacks $40M to Scale its Payments Infra Business in LatAm

Crypto Exchange Gemini Receives Approval for Launch in France:

• Crypto exchange Gemini, founded by Tyler and Cameron Winklevoss, has received approval from the French regulatory authority, Autorite des marches financiers, to operate as a virtual asset services provider in France.

• Gemini plans to launch its platform in France soon, offering over 70 cryptocurrencies to retail and institutional clients, along with its ActiveTrader and electronic over-the-counter trading solution, Gemini eOTC.

• The approval aligns with the EU's Markets in Crypto-Assets Regulation (MiCA), allowing crypto companies licensed in one EU country to operate across the EU. Gemini's expansion into Europe, including Ireland as its headquarters, comes amidst increased scrutiny from U.S. regulators like the SEC, which has charged Gemini and Genesis in relation to the Gemini Earn Lending Program. Gemini disputes the SEC's allegations, arguing that its products are not securities.

Solana Mobile to Sell Second Crypto Smartphone:

• Solana Mobile is planning to launch a second smartphone following the unexpected success of its first crypto-ready smartphone, Saga.

• The new phone will retain key features like an onboard crypto wallet, custom Android software, and a dApp store for crypto applications but will be priced lower and have different hardware. The original Saga phone was priced at $1000 but saw price reductions due to slow sales.

• The limited supply of Saga smartphones has led to a high demand in the secondary market, with prices reaching $3,200 on eBay. The popularity surged when traders realized the phone included BONK tokens, and subsequent airdrops of tokens and NFTs to Saga owners further increased its value. Solana Mobile's representative did not comment on the matter.

Crypto Exchange WOO X Raises $9M to Improve Liquidity

• Crypto exchange WOO X has raised $9 million in its latest funding round, with contributions from various investors including crypto market maker Wintermute.

• The funding will be used for global market expansion and obtaining regulatory licenses. WOO X aims to improve liquidity, particularly in BTC and ETH perpetual futures markets, and plans to expand into altcoin perpetual futures and spot markets.

• WOO X has revamped its business model to collaborate with multiple liquidity providers, moving away from reliance on a single provider, Kronos Research, which experienced a significant hack in November 2023. The company is also launching a designated market maker (DMM) program for its spot markets and aims to achieve a 100% custody ratio by Q2 of this year.

Digital Onboarding’s $58M to Help Banks W/ Profitable Engagement:

• Digital Onboarding, a SaaS company that aids financial institutions in enhancing customer relationships, has secured $58 million in growth capital from Volition Capital. The company initially started as SalesBrief in 2015, focusing on B2B sales, and pivoted to its current model in 2017 after entering a fintech accelerator.

• The company's platform addresses the challenge of high closure rates of new checking accounts by providing digital alternatives to traditional paper-based communication from financial institutions. This includes targeted communication, action-oriented microsites, and a library of campaigns.

• With over 140 financial institution customers, Digital Onboarding will use the new funding to accelerate its product roadmap, enhance features like marketing attribution and machine learning, and potentially double its workforce by the end of 2024. The investment will also support expansion into embedded fintech functionality and further market penetration.

Pomelo Stacks $40M to Scale its Payments Infra Business in LatAm:

• Pomelo, an Argentinian payments infrastructure startup, has raised $40 million in a Series B funding round, bringing its total funding since inception to $103 million. The round was led by Kaszek, with contributions from monashees, Index Ventures, S32, TQ Ventures, and Endeavor Catalyst.

• Founded in 2021, Pomelo provides fintechs and embedded finance players with a platform to launch virtual accounts and issue various types of cards in Latin America, achieving a much faster time to market than traditional methods.

• The company has expanded its services beyond Argentina to Mexico, Brazil, Chile, Colombia, and Peru, serving over 100 corporate clients and experiencing significant revenue and transaction volume growth. Pomelo's offerings include card issuing, processing, and a credit card management platform, and it plans to further expand in Brazil, Mexico, and Colombia.NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.