Experience
Stradley Ronon Advises on Launch of BNY Dreyfus Stablecoin Reserves Fund
Stradley Ronon worked with BNY Investments Dreyfus (Dreyfus) in the launch of the BNY Dreyfus Stablecoin Reserves Fund, one of the first stablecoin reserve money market funds. Established after the enactment of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which created the first comprehensive regulatory framework for payment stablecoins, the BNY Dreyfus Stablecoin Reserves Fund is intended to function as a permitted reserve vehicle for payment stablecoin issuers under the GENIUS Act. The signing of the GENIUS Act creates potential new use cases for money market funds, positioning these funds at the forefront of a new chapter in the digital assets industry.
Stradley Ronon represents the BNY family of mutual funds. Dreyfus, the affiliated liquidity solutions provider of BNY, manages over $300 billion in money market fund assets. The BNY Dreyfus Stablecoin Reserves Fund launched on November 13.
David Stephens, Jamie M. Gershkow, Mena Larmour and Geena MarzoucaStradley Ronon Advises Yieldstreet in $200M Fintech Powersports Loan Investment Transaction with Octane
The firm represented Yieldstreet Management, a leading private markets investment platform providing expanded alternative investments access to investors, in a $200 million investment in fintech powersports consumer loans acquired from, and to be serviced by, Octane Lending Inc. and its affiliate Roadrunner Financial. The investment was made with both equity investments from Yieldstreet investors and debt financing provided by JPMorgan Chase Bank NA. This was the third transaction in which Stradley Ronon represented Yieldstreet in making powersports loan purchases from Octane.
David H. Joseph, Kevin P. Kundra, Julie M. Murphy and Michael P. BonnerStradley Ronon Represents Yieldstreet in Fintech Travel Loan Investment Agreement with Upgrade
A Stradley Ronon team advised Yieldstreet Management, a leading private markets investment platform providing expanded alternative investments access to investors, in an investment in fintech “buy now, pay later” (BNPL) consumer travel loans acquired from, and to be serviced by, Upgrade Inc., a fintech company offering various credit products to consumers. The travel loans acquired by Yieldstreet were originated using the Flex Pay platform, Upgrade’s BNPL financing solution.
David H. Joseph and Kevin P. KundraStradley Ronon Advises Franklin Templeton on its Third Digital Asset ETP Launch in the Past Year
Stradley Ronon represents Franklin Templeton in expanding its digital asset ETP suite, providing counsel on the formation, registration, listing and launch of the Franklin Crypto Index ETF.
The Stradley team is led by partners Steve Feinour and Miranda Sturgis, and includes partner Kenneth Greenberg and associates Wesley Davis, Rachel Charamella, Sam Kishiyama and Jeremy Gottlieb. The tax team includes partners Dean Krishna and Rich Peterson.
J. Stephen Feinour Jr., Miranda L. Sturgis, Kenneth L. Greenberg, Wesley Davis, Rachel Charamella, Samuel Kishiyama, Dean V. Krishna and Richard E. Peterson
Stradley Ronon Advises Franklin Templeton on Historic Spot Ether ETF
Stradley Ronon served as counsel to Franklin Templeton on the formation, registration, listing and launch of a new exchange-traded product, Franklin Ethereum ETF — one of several spot ether ETFs to receive listing approval from the U.S. Securities and Exchange Commission. The Franklin Ethereum ETF offers investors exposure to ether, the second-largest digital asset by market capitalization, in an ETF wrapper.
J. Stephen Feinour Jr., Miranda L. Sturgis, Kenneth L. Greenberg, Joel D. Corriero, Thomas L. Hanley, Dean V. Krishna, Wesley Davis and Rachel Charamella
Stradley Ronon Advises Franklin Templeton on Industry-First Spot Bitcoin ETF
Stradley Ronon advised Franklin Templeton on the formation, registration, listing and launch of the Franklin Bitcoin ETF, one of 11 spot bitcoin exchange-traded funds (ETFs) to receive listing approval from the U.S. Securities and Exchange Commission (SEC) on January 10.
The Franklin Bitcoin ETF offers investors exposure to bitcoin in an ETF wrapper, thereby providing access through traditional securities brokerage accounts and avoiding the complexities of handling bitcoin directly. The Franklin Bitcoin ETF, which trades on Cboe, issues shares backed by bitcoin held by the fund’s custodian.J. Stephen Feinour Jr., Miranda L. Sturgis, Joel D. Corriero, Kenneth L. Greenberg, Thomas L. Hanley, Dean V. Krishna and Wesley Davis
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