💳 Robinhood Releases 3% Cash Back Card
Comes as part of the platforms $5 Gold Card membership
Hey Waivly Crew! 🌊 Robinhood has introduced a credit card tailored for its premium customers. Casa is expanding its inheritance product to global customers and more digital assets.
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The Polestar 4 gets an official price ahead of its debut
Next month, the Polestar 4 will hit the market with a slight pricing adjustment. Initially anticipated to start at $60,000, the long-range single-motor rear-wheel drive version will now debut at $56,300, including destination charges.
Additionally, the dual-motor variant with the Pilot pack will begin at $63,400. Production for the Polestar 4 will commence in late April, with customer deliveries expected in the fourth quarter of the year. Polestar's price adjustments coincide with the unveiling of the Polestar 3's pricing, which came in lower than anticipated.
The electric vehicle market is facing challenges, including slower EV sales growth and Tesla's price reductions. Polestar, now under Geely's supervision, aims to expand its lineup and compete more assertively. With $950 million in external financing secured, the company is poised for its next developmental phase.
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Robinhood launches 3% cash back credit card
Robinhood, known for commission-free trading, is introducing a credit card for US consumers, marking its expansion into broader financial services.
The Robinhood Gold Card, available exclusively to Gold program members, offers 3% cash back on all purchases with no annual or foreign transaction fees. This move challenges competitors like Chase Sapphire Reserve, which offer similar rewards but only for select transactions.
The company's diversification strategy extends beyond brokerage services, with recent additions including retirement products. Since acquiring credit-card issuer X1 Inc., Robinhood has appointed Deepak Rao to oversee the Gold Card rollout. The new card service, accessible via a separate app, offers privacy features like disposable numbers and allows up to five family members to join an account. Additionally, some customers may qualify for a 10-karat gold card through a referral program.
The Waves
🔍 FTC investigating TikTok over privacy and security
🗺️ Google might make it easier for you to plan a trip with AI
💰 Amazon invests $2.75 billion more in Open AI-rival Anthropic
🚗 Tesla must give driver-assist demonstration with every US sale
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Web3 Special
Fidelity files S-1 application with US SEC for spot ETH ETF
Fidelity has filed an S-1 application with the SEC on March 27, aiming to launch a spot Ether ETF. The proposed ETF would allow Fidelity to stake part of its ETH holdings and trade on the Cboe BZX Exchange, with Fidelity Digital Asset Services acting as custodian.
However, the application highlights additional risks, including potential loss from staking penalties and liquidity risks during the staking process. Staking rewards would also be taxed as income for the fund, creating taxable events for investors.
Moreover, regulatory uncertainties pose further risks, with potential termination triggers including classification as an investment company or commodity pool under U.S. regulations, or designation as a money service business under FinCEN rules. Fee structures for the ETF remain unspecified, and the custodian would determine the chain to support in case of a fork.
Casa expands self-custody inheritance solution globally
Casa, a provider of self-custodial digital asset solutions, is extending its inheritance feature globally. This feature aims to streamline the inheritance process for digital assets like bitcoin and ether, addressing a significant challenge in self-custody.
Casa Inheritance offers a secure way for users to safeguard their digital asset estate, countering the risks associated with custodial providers or non-custodial hardware wallets. With an estimated $140 billion in bitcoin lost due to misplaced keys, Casa emphasizes the importance of secure inheritance solutions.
Previously available only to U.S.-based investors with substantial bitcoin holdings, Casa's expanded inheritance product leverages its multi-key vault technology. Users can grant secure, conditional vault access to chosen recipients, offering enhanced security for their digital assets.
Waivly Work Highlights
👩💻 Project Manager at Wormhole Labs
👩💻 Senior Financial Analyst at Pagoda
👩💻 Senior Technical Recruiter at Stellar
👩💻 Regional Lead (India) at Circle
That wraps up today’s newsletter
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