VersiFi Acquires Trading Tech Startup Ather Digital

Hi NoRamp Community,

Daily News:

1) Metamask Aims to Add Bitcoin Support

2) VersiFi Acquires Trading Tech Startup Ather Digital

3) House Passes CBDC Anti-Surveillance State Act

4) Aflac & Nayya to Revolutionize Supplemental Health Benefits Access

5) Userfront Secures $5.3M to Enhance SaaS Identity Solutions

Metamask Aims to Add Bitcoin Support:

• Metamask, a popular Ethereum wallet, is reportedly planning to add support for Bitcoin (BTC) within the next month, according to sources cited by Coindesk. The integration may start with basic features and expand over time, extending Metamask's reach beyond the Ethereum ecosystem.

• Currently dominating the Ethereum ecosystem with support for Ethereum, Ethereum Layer 2s, and EVM-compatible networks, Metamask's inclusion of Bitcoin would position it as a leading digital wallet platform.

• Recent feature additions like security alerts, Ethereum validator staking, and airdrop/NFT eligibility checking have bolstered Metamask’s user experience, and the Bitcoin integration would further enhance its capabilities.

VersiFi Acquires Trading Tech Startup Ather Digital:

• VersiFi, a crypto trading and lending firm, acquired Ather Digital, a crypto trading technology startup, for an undisclosed amount. The deal, an all-stock transaction, enables VersiFi to add direct market access, algorithmic trading, and smart order routing to its platform. Ather's shareholders, including Manifold Capital Partners, have become minority shareholders in VersiFi.

• This acquisition follows VersiFi’s $10 million Series A funding in November and the hiring of former Genesis executive Martin Garcia as co-CEO. The acquisition discussions began in January and concluded this month, driven by increased market activities and investor interest in crypto trading.

• VersiFi plans to leverage Ather's Abu Dhabi office to expand its international presence. Ather’s team, including founder Sidharth Sankhe, has joined VersiFi. The focus will be on supporting institutional investors with advanced trading capabilities and expanding in offshore markets once fully regulated in the UAE. VersiFi, currently with about 25 employees, intends to grow its team in Abu Dhabi but is not seeking additional capital at this time.

  

  Source: Blockworks

House Passes CBDC Anti-Surveillance State Act:

• The US House of Representatives passed the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act with a vote of 216-192. The bill aims to prevent the Federal Reserve from directly offering a CBDC to individuals and using it to implement monetary policy. Three Democrats voted in favor, while no Republicans opposed it.

• Introduced by Rep. Tom Emmer in September, the bill had 165 Republican cosponsors. Emmer stated that the legislation ensures US digital currency policy aligns with American values of privacy, individual sovereignty, and free market competitiveness. He first introduced a version of the bill in February 2023.

• The bill now moves to the Democrat-controlled Senate, which recently passed joint resolution 109 to overturn an SEC staff accounting bulletin. This vote follows another crypto-focused bill, the Financial Innovation and Technology for the 21st Century Act (FIT21), passing in the House earlier in the week with bipartisan support.

Aflac & Nayya to Revolutionize Supplemental Health Benefits Access:

• Aflac Incorporated, a leading provider of supplemental health insurance in the U.S., has announced a strategic partnership with Nayya to enhance how employees access their supplemental health benefits, with a focus on improving the claims experience.

• The collaboration will integrate Nayya’s expertise in personalized digital benefits guidance with Aflac’s group benefits business. This integration aims to alleviate the financial burden of unexpected medical events by proactively informing insured individuals about their benefits during eligible medical events.

• Bob Ruff, Senior Vice President of Group Voluntary Benefits at Aflac, emphasized the company's long-standing commitment to simplifying the claims process. Sina Chehrazi, CEO of Nayya, praised Aflac's integrity in customer service and highlighted the importance of investing in differentiated claims solutions to support employees during challenging times.

Userfront Secures $5.3M to Enhance SaaS Identity Solutions:

• Userfront, an auth and identity platform for SaaS businesses, raised $5.3 million in a funding round led by Heavybit. The platform provides comprehensive authentication and access control solutions for a variety of SaaS use cases, from free individual accounts to large enterprises.

• Userfront aims to streamline authentication processes and enhance revenue opportunities for businesses, emphasizing the importance of identity management. CEO Tyler Warnock highlighted that identity is crucial for online businesses and that Userfront is designed to support growth at all stages.

• The funds will be used to enhance Userfront’s platform, add features, upgrade customers, and provide tailored enterprise solutions. The company also offers a migration assistant for businesses modernizing their identity systems. Roi Avidan from Pay.com.au praised Userfront’s seamless transition process, noting significant growth since moving off Amazon Cognito. This investment round demonstrates strong investor confidence in Userfront's innovative approach to SaaS identity management.

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