Visa Pilots Web3 Customer Loyalty Platform

Hi NoRamp Community,

Daily News:

1) Startup to Offer BTC Securities That Don't Need Green Light From SEC

2) Crypto Betting Firm Stake Secures Naming Rights to Sauber’s F1 Team

3) Visa Pilots Web3 Customer Loyalty Platform

4) HSBC Takes On Revolut, Wise With New Forex App

5) Former Anthemis Partner Launches New Fintech-Focused Venture Firm

Startup to Offer BTC Securities That Don't Need Green Light From SEC

• Former Citigroup executives are introducing bitcoin-backed securities through Receipts Depositary Corp. (RDC), offering bitcoin depositary receipts to institutional investors without requiring SEC approval.

• The BTC DRs, akin to American depositary receipts for foreign stocks, aim to provide direct ownership of bitcoin as a DTC-eligible security, differentiating from bitcoin ETFs which typically redeem for cash.

• RDC's initiative addresses the growing institutional interest in bitcoin investments, offering an alternative pathway to engage with bitcoin while regulatory anticipation builds for the approval of a spot BTC ETF in the U.S.

Stake Secures Naming Rights to Sauber’s F1 Team:

• Sauber has been rebranded as Stake F1 Team Kick Sauber for the 2024 and 2025 Formula 1 seasons after the crypto betting and casino platform, Stake, secured naming rights, filling the sponsorship gap left by Alfa Romeo.

• The rebranding includes the Stake and Kick.com names featuring on Sauber's vehicles, with the team set to launch its 2024 season at an event in London, showcasing broader involvement of cryptocurrency platforms in F1, including appearances by Canadian rapper Drake.

• The involvement of crypto companies in F1 has been growing, with Stake's commitment reflecting the trend of leveraging the sport's global fan base for advertising and sponsorship opportunities, joining other crypto sponsors like OKX and Crypto.com in the racing world.

Visa Pilots Web3 Customer Loyalty Platform:

• Visa introduces the Visa Web3 Loyalty Engagement Solution, a platform that enables brands to create digital wallets for customers to store reward points and experiences, focusing on gamified giveaways and immersive treasure hunts.

• This innovative approach responds to customer desires for more engaging interactions with brands, offering unique digital collectibles and experiences in various sectors like travel, sports, and entertainment.

• Visa's move into Web3 loyalty programs aligns with its broader involvement in the crypto space, aiming to transform traditional loyalty experiences and engage customers actively, building upon its extensive history and partnerships in cryptocurrency and digital payments.

HSBC Takes On Revolut, Wise With New Forex App:

• HSBC Holdings Plc is launching Zing, an international payments app targeting the retail market, aiming to compete with fintech giants like Revolut and Wise Plc by offering affordable foreign exchange services.

• Initially available in the UK with plans to expand globally, Zing will be accessible on major app platforms and open to non-HSBC customers, aligning with HSBC's ambition to become a leading platform for international payments.

• The introduction of Zing reflects HSBC's strategic move to attract affluent consumers and expand beyond traditional banking services, leveraging its existing Global Money product's success and positioning itself as a top choice for internationally mobile customers.

Anthemis Partner Launches New Fintech-Focused Venture Firm:

• Ruth Foxe Blader has left Anthemis Group to establish Foxe Capital, a New York-based venture firm with a global investment focus, continuing to manage funds for Anthemis as a sub-advisor while planning future fundraising.

• Joined by Kyle Perez and Sophie Winwood, Blader aims to leverage her extensive fintech investment experience to grow Foxe Capital into a key player in the VC landscape.

• Anthemis Group, amid recent restructuring and market adjustments, continues to have an economic interest in the ventures Blader manages, supporting her transition to independent management while navigating its own strategic growth and challenges within the VC sector.

NoRamp:

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