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KAST Secures $80M in Series A Funding to Deepen Stablecoin Drive

By
Paul Ugbede Godwin
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0

KAST, a Singapore-based stablecoin payments fintech startup often described as a neobank-style platform built on stablecoins, has announced raising $80 million in a Series A funding round.

This round, co-led by QED Investors and Left Lane Capital, values the company at approximately $600 million post-money. The funding comes just over a year after KAST’s launch in July 2024 and follows its $10 million seed round in late 2024 led by HSG and Peak XV Partners.

Over 1 million users, annualized transaction volume around $5 billion, and revenue that has doubled since September 2025. The company expects to hit a $100 million annual revenue run rate this year. Global expansion focusing on regions like North America, Latin America, and the Middle East, team growth, product development including savings products and remittances, licensing, and enhancing stablecoin-powered financial services like USD-denominated accounts, payment cards, and seamless spending.

Providing accessible, stable financial infrastructure via stablecoins to underserved markets and “dreamers” worldwide, enabling low-cost, borderless payments and neobank-like features without traditional banking limitations.

Founder and CEO Raagulan Pathy (former VP at Circle in APAC) shared an emotional post emphasizing perseverance, with the round seen as validation of building applications on top of stablecoins rather than just the assets themselves. This reflects surging investor interest in stablecoin infrastructure amid growing adoption in emerging markets; high demand in places like Brazil and Argentina for alternatives to volatile local currencies.

The stablecoin and fintech space continues to heat up with such large early-stage rounds—impressive trajectory for a company that’s still under two years old. Stablecoins have emerged as a transformative force in emerging markets (EMs) — regions in Latin America, Africa, Asia, and beyond facing high inflation, currency devaluation, limited banking access, and expensive cross-border transfers.

As of early 2026, with the global stablecoin market cap exceeding $300 billion and transaction volumes hitting tens of trillions annually in 2025, adoption is surging in EMs driven by practical utility rather than speculation. In countries like Argentina (hyperinflation episodes), Nigeria (naira devaluation), Turkey, and Venezuela, people use USD-pegged stablecoins (e.g., USDT, USDC) to preserve wealth.

Dollar access was once limited to the wealthy via banks or black markets; stablecoins democratize it through mobile wallets. EMs receive massive remittance flows (hundreds of billions yearly). Stablecoins cut costs (from 6%+ traditional fees to <1%) and time (days to minutes), bypassing correspondent banks.

Platforms enable seamless payouts in regions like the Philippines, Nigeria, and Latin America. For the unbanked/underbanked, stablecoins serve as digital dollar accounts for savings, payments, payroll, and international income. In Africa, 79% of crypto users hold stablecoins; in broader EMs, 60% do.

Businesses use them for invoices, supplier payments, and treasury management, reducing FX risks. Goldman Sachs estimates ~66% of global stablecoin supply is held by individuals in EMs out of ~$290B total in early 2026 data. Projections suggest EM holdings could reach $730 billion in the coming years, potentially equaling 10–20% of local bank deposits in some countries.

Fastest crypto growth, driven by stablecoins for inflation protection and remittances. Brazil and Argentina lead; local exchanges see massive USD-pegged volume. Fintechs integrate USDC for local spending and savings. Highest growth in holdings; Nigeria and others use stablecoins for payments, remittances, and e-commerce to bypass FX restrictions.

Economic instability drives 85–92% of users. High retail/DeFi use; remittances and mobile-first ecosystems accelerate integration. Global stablecoin transactions reached $33 trillion in 2025 (72% YoY growth), with real payments volume in hundreds of billions after filtering noise. EMs show higher utility: 60% of crypto-native users hold stablecoins; merchant acceptance drives adoption (half of holders buy from accepting businesses).

Widespread dollar stablecoin use can weaken local currency control and lead to “currency substitution.” Some EMs risk fragmentation or bans; others explore integration. Merchant acceptance lags; volatility in on-ramps/off-ramps persists.

Stablecoins are shifting from crypto trading tools to essential financial infrastructure in EMs — providing stability where traditional systems fail. This “onchain dollarization” is preserving USD dominance globally while empowering billions with faster, cheaper, borderless finance. As platforms like KAST expand neobank features on stablecoins, the trajectory points to even deeper integration in underserved regions.

Coinbase Launches Regulated Futures Trading in Europe 

By
Paul Ugbede Godwin
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0

Coinbase has launched regulated futures trading in Europe. The company announced and began rolling out futures contracts on its Coinbase Advanced platform for eligible users in 26 European countries including major markets like Germany, France, and the Netherlands.

This marks the first time European retail traders can access fully regulated crypto futures directly on Coinbase. Products available: Includes perpetual-style futures with features like 5-year expiries, hourly funding rates, and daily settlements, traditional dated futures (monthly/quarterly expiries), and index futures such as the Mag7 + Crypto Equity Index.

Assets: Covers major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others. Leverage: Up to 10x on select contracts with lower levels on others. Fees: Competitive rates, such as around 0.02% for certain trades (maker/taker varies).

Regulation offered through Coinbase’s MiFID II-regulated entity via Coinbase Financial Services Europe Ltd., holding a CySEC license. This provides a compliant framework under European rules, including MiCA considerations, positioning it as a safer alternative to unregulated offshore platforms.

Available to eligible Coinbase Advanced users who pass suitability assessments. It integrates spot and derivatives trading in one interface, with 24/7 availability for many contracts. Coinbase acquired this capability years earlier, but the actual retail rollout in Europe happened progressively, culminating in this March 2026 launch.

This expands Coinbase’s “everything exchange” vision in Europe, offering more tools for hedging, speculation, and liquidity while emphasizing user protections and compliance. European traders previously often turned to less-regulated options for derivatives—now there’s a major trusted platform filling that gap.

This is a major win for accessibility and safety. Previously, many EU users relied on unregulated offshore platforms; Bybit, Binance international derivatives for leveraged crypto trading, exposing them to risks like limited recourse, potential hacks, or sudden restrictions.

Now, eligible Coinbase Advanced users in 26 countries including Germany, France, Netherlands, and others in the EEA can access compliant derivatives directly on a trusted platform. This reduces friction and builds confidence, especially under MiFID II rules via Coinbase’s CySEC-licensed entity, offering better investor protections than unregulated alternatives.

Derivatives often represent ~75% of global crypto trading volume, so bringing regulated options to Europe could capture significant flow. It positions Coinbase to attract sidelined capital wary of offshore venues, potentially boosting overall liquidity in European time zones. Early reactions suggest optimism for gradual volume migration, though initial uptake may be moderate amid current market sentiment.

This also enhances price discovery and risk management tools, which could stabilize volatility for major assets like BTC, ETH, and SOL. The launch aligns with Europe’s push for clearer frameworks. It demonstrates that regulated entities can innovate in derivatives while complying, potentially encouraging more platforms to follow.

However, there’s nuance: The European Securities and Markets Authority (ESMA) recently warned that many “perpetual futures” might fall under strict national rules for Contracts for Difference (CFDs), which often limit leverage and require warnings. Coinbase’s perpetual-style contracts (with 5-year expiries) aim to navigate this, but ongoing scrutiny could influence product tweaks or adoption pace.

This move strengthens Coinbase’s “everything exchange” vision in a regulated way, differentiating it from less-compliant competitors. It challenges offshore giants dominating EU derivatives and could pressure them to enhance compliance or lose share to regulated alternatives.

For institutions via Coinbase Prime integrations elsewhere, it signals deeper European commitment, potentially drawing more capital. Long-term, this supports broader institutional adoption by providing familiar, compliant tools—key in a region prioritizing consumer protection.

Overall, this is a bullish step for Europe’s crypto ecosystem: more legitimate infrastructure, reduced reliance on risky platforms, and a bridge to mainstream finance. While not an overnight volume explosion especially in volatile periods, it lays groundwork for sustained growth as MiCA matures and sentiment improves.

US Equities are Showing Notable Weakness in Premarket Trading

By
Paul Ugbede Godwin
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0

US equities are showing notable weakness in premarket trading on March 9, 2026, with major index futures down over 1%.

This aligns with a broader global selloff, heavily driven by surging oil prices amid the ongoing US-Iran war now in its second week or so, which has disrupted supply chains and pushed crude toward or above $100–$120 per barrel at points. Dow futures are down around 500–758 points roughly 1–1.6%.

S&P 500 futures are down about 1.1–1.4%. Nasdaq futures are down around 1.2–1.6%. This follows a rough prior week, with added pressure from a disappointing February jobs report (92,000 jobs lost vs. expectations of gains, unemployment up to 4.4%).

The primary catalyst is the Iran conflict, which has: Caused oil to spike sharply (briefly nearing $120/barrel, now over $100), raising stagflation fears (higher inflation + slower growth). Hit energy importers hard, especially in Asia. Led to broad risk-off sentiment, with travel stocks (airlines, cruises) and banks among the hardest hit in premarket.

Japan’s Nikkei 225 has fallen sharply — closing down about 5.2% at around 52,729 after plunging as much as 7% intraday early in the session. This marks one of its steeper drops recently, reflecting Japan’s heavy reliance on imported energy from the Middle East.

Other Asian markets like South Korea’s Kospi sank around 6%, and global equities are tumbling in response to the same oil shock and war uncertainties. This is contributing to stagflation concerns; persistent inflation from energy costs potentially delaying Fed rate cuts and fears of deeper economic fallout if the conflict drags on.

Some analysts suggest the war could remain limited and resolve relatively soon within weeks, potentially allowing a rebound if oil stabilizes, but higher gasoline prices are already a political and economic headache. Sectors like energy producers may see gains from higher oil, while importers, airlines, and consumer discretionary names are under pressure. Volatility (e.g., VIX) is elevated as markets brace for more developments.

Keep an eye on any geopolitical updates or oil inventory data for shifts. European markets are experiencing significant pressure, as the ongoing US-Israeli war with Iran drives a sharp surge in oil prices (Brent crude briefly nearing or exceeding $120 per barrel, up over 25% in recent sessions), fueling inflation fears, supply disruption concerns, and broader risk aversion.

The pan-European STOXX 600 has fallen around 2.1–2.34% in early to mid-session trading; down to approximately 585–589 points at points during the day, marking its third consecutive session of declines and hitting lows not seen in over two months. This follows a rough 5.5% drop last week.

Key national indices: Germany’s DAX: Down about 2.1–2.6% trading around 22,983–23,000 levels in snapshots. France’s CAC 40: Down 2.4–2.7% (around 7,779–7,861 range). UK’s FTSE 100: Down 1.6–1.9% (around 10,089–10,284).

These moves align with the global selloff triggered by the same factors hitting Asia (Nikkei -5.2%) and US futures (down 1%+). Europe is particularly vulnerable due to heavy reliance on imported energy from the Middle East, with disruptions to shipping (e.g., near the Strait of Hormuz) and potential production cuts amplifying the impact.

Sector-wise: Broad risk-off sentiment prevails, with banks, tech, and cyclical stocks under heavy pressure; European banks down ~3.2%, tech ~3.1% in some reports. Energy producers and related names may see relative resilience or gains from higher oil, while airlines, travel, and consumer discretionary sectors are battered by fuel cost spikes and economic slowdown fears.

Volatility has spiked, with European VSTOXX (fear gauge) breaking higher levels. The surge exacerbates stagflation risks (higher energy-driven inflation potentially forcing the ECB to delay or rethink rate cuts amid fragile growth). Some reports note discussions among G7 nations on possible emergency oil reserve releases to temper the spike, which has helped cap losses slightly in places.

However, with no clear de-escalation in the conflict, markets remain on edge for further geopolitical headlines, oil inventory updates, or policy responses. This mirrors the Asia-Pacific rout and US premarket weakness, underscoring how the Iran war’s energy shock is rippling globally and hitting import-dependent regions hardest. Keep watching for any stabilization in crude or diplomatic signals that could prompt a relief rally.

UK’s Sovereign AI Unit Supports Sovereign Compute Capacity and Domestic AI Infrastructure

By
Paul Ugbede Godwin
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0

The UK Government’s Sovereign AI Unit is a major initiative, backed by up to £500 million in funding to invest in and scale British AI capabilities.

It was first announced in late 2025 as part of broader AI strategies, including the AI Opportunities Action Plan, and is designed to support UK-based startups and scale-ups in becoming world-leading “national champions” in key AI areas. The unit aims to: Provide direct investments often in partnership with bodies like Innovate UK and the British Business Bank.

Offer unique advantages such as access to large-scale UK AI compute resources, specialized datasets, procurement opportunities, and more. Focus on priority domains where the UK has strengths, like biotech, cybersecurity, fintech, quantum, and frontier AI infrastructure.

It is chaired by James Wise from Balderton Capital and operates under the Department for Science, Innovation and Technology (DSIT). The goal is to help founders “start here, scale here, and win everywhere” while enhancing economic growth, national security, and technological sovereignty. While the unit was established and key details emerged in 2025 recent developments and promotions highlight its upcoming full operational phase.

The official launch event for the £500m fund is scheduled for April 16, 2026, at 18:00 GMT. This appears to be the “fresh” rollout you’re referring to—marking the point where investments and support become more actively deployed. A new Fundamental AI Research Lab backed by up to £40m over six years to drive “blue-sky” breakthroughs.

Ongoing efforts to expand sovereign compute capacity and support domestic AI infrastructure. This positions the UK to compete more aggressively in the global AI race by building homegrown strengths rather than relying solely on foreign providers. It’s an exciting step for the British AI ecosystem.

The UK Sovereign AI Unit places a strong emphasis on biotech as one of its priority domains. This aligns with the UK’s structural advantages in pharmaceuticals, world-class research institutions. Head of Ventures Joséphine Kant has highlighted that the unit is “really focused” on domains where the UK has clear strengths, explicitly including biotech alongside cyber, fintech, and quantum.

The goal is to support UK-based companies scaling AI-native solutions in these areas, helping them “start here, scale here, and win everywhere” while building technological sovereignty. A flagship early investment from the Sovereign AI Unit: £8 million in seed funding to create a massive open dataset of protein-ligand binding structures (how drugs interact with targets).

This dataset is projected to be 20x larger than all similar data generated over the past 50 years, accelerating AI-led drug discovery, reducing costs, and positioning the UK as a world leader in frontier AI-driven pharmaceuticals. This ensures more breakthroughs happen domestically, benefiting UK citizens through faster, cheaper new medicines.

AI for Science Strategy (linked to the unit’s work) — Backed by up to £137 million overall, with the Sovereign AI Unit prioritizing related areas. It targets missions like developing trial-ready drugs in 100 days by 2030, leveraging datasets like OpenBind and new health data services up to £600 million backed. The unit plans open calls for proposals, including scaling autonomous lab platforms to supercharge biotech R&D.

Proof of Concept Funding

Competitions explicitly call for AI innovations in AI for biosciences and health, including: Genomics and multi-omics models for medicine discovery. Foundational patient-level health models. Foundational bioscience models. Scalable, secure health AI monitoring. The unit collaborates on talent attraction, compute access, and partnerships to make the UK attractive for AI-native biotech firms.

Reports from think tanks like the Tony Blair Institute emphasize building “sovereign assets” to make the UK the go-to hub for AI-biotech companies. This focus ties into national goals: accelerating scientific breakthroughs in medical research and engineering biology, enhancing economic growth through high-value life sciences, and reducing reliance on foreign AI tools for critical health innovations.

The full fund launch on April 16, 2026, is expected to ramp up investments in these priority areas, with cheques potentially up to £10 million for qualifying UK startups. Biotech remains a standout sector due to the UK’s deep pharma heritage and AI prowess—think of it as building on successes like DeepMind’s protein-folding breakthroughs to create the next generation of AI-driven therapies.

Nasdaq Partners Payward/Kraken to Accelerate Tokenization Era Where Equities Become Programmable, Borderless and Always Accessible 

By
Paul Ugbede Godwin
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0

Nasdaq has partnered with Payward, the parent company of the cryptocurrency exchange Kraken to develop infrastructure for tokenized equities, aiming to enable 24/7 trading of blockchain-based versions of publicly listed stocks and ETFs.

Nasdaq is advancing its plan; proposed to the SEC in September 2025 to allow tokenized versions of its listed stocks and exchange-traded products (ETPs) to trade on its markets, with settlement in token form via the Depository Trust & Clearing Corp. (DTCC). The focus includes preserving corporate governance rights—such as proxy voting, dividends, and shareholder engagement—for token holders, giving issuers more control over tokenized shares.

Payward will design a gateway to connect regulated markets with on-chain and blockchain networks. This uses Kraken’s xStocks framework; a tokenized equities platform as the foundation, enabling seamless movement of tokenized securities between traditional finance (TradFi) systems and decentralized markets.

Kraken will act as a key distribution partner, especially for non-U.S. clients (targeting Europe initially), providing global access outside the U.S. The setup targets 24/7 trading (always-on access), instant settlement, fractional ownership, and full interoperability with traditional shares (same CUSIP identifiers).

This bridges the gap between stock market hours and crypto’s continuous trading model. The framework is expected to launch in early 2027, pending regulatory approval primarily from the SEC. This builds on Kraken’s existing xStocks platform (launched via its acquisition of Backed Finance in late 2025), which already offers tokenized U.S. stocks/ETFs trading 24/5 on chains like Ethereum and Solana, with over $25 billion in volume reported earlier in 2026.

Kraken has also rolled out regulated perpetual futures on tokenized equities for non-U.S. users, adding leverage and 24/7 derivatives access. This move signals accelerating convergence between traditional stock exchanges and blockchain technology, driven by growing interest in real-world asset (RWA) tokenization.

It follows similar efforts by competitors like ICE (NYSE parent) exploring blockchain-based 24/7 platforms. U.S. investors are currently excluded from many of these tokenized offerings due to regulatory constraints, with availability focused internationally. This is a significant step toward more accessible, efficient, and continuous global equity markets.

This collaboration builds on Nasdaq’s September 2025 SEC proposal and Kraken’s existing xStocks platform which has already achieved over $25 billion in transaction volume and $4+ billion settled on-chain, with 85,000+ unique holders. It aims to create regulated tokenized versions of Nasdaq-listed stocks and ETFs, with full interoperability (same CUSIP identifiers), instant settlement, fractional ownership, and preservation of shareholder rights.

The launch is targeted for the first half of 2027, pending SEC approval, with Kraken serving as a key gateway and distribution partner—primarily for non-U.S. investors starting in Europe. Traditional stock markets close daily and on weekends/holidays. Tokenized equities could enable continuous, always-on trading, allowing global investors to react to news, earnings, or events in real time—similar to crypto markets.

This could boost liquidity during off-hours and reduce timing risks. Instant settlement eliminates T+1/T+2 delays, lowers costs through blockchain, and enables fractional shares—democratizing access to high-value stocks for smaller investors worldwide.

The “equities transformation gateway” allows seamless movement between regulated (permissioned) markets and permissionless blockchain/DeFi ecosystems, potentially enabling tokenized stocks as collateral in lending, yield farming, or derivatives. U.S. retail/institutional investors are largely excluded due to regulatory hurdles, focusing availability internationally.

Issuers gain more control over tokenized shares; direct integration into share registries for governance and transparency, potentially streamlining corporate actions and shareholder engagement. This pressures rivals and signals Wall Street’s shift toward hybrid models. It could erode traditional brokers’ moats as crypto platforms capture equity trading volume.

Continuous trading may lead to more efficient global pricing, though it risks increased volatility from 24/7 exposure to global events. A major exchange like Nasdaq actively building tokenized infrastructure accelerates mainstream adoption. It bridges TradFi and crypto, potentially unlocking trillions in equity value on-chain.

Boosts demand for compliant blockchain layers, oracles for pricing, cross-chain bridges, and regulated gateways. Platforms like Kraken’s xStocks (built on networks such as Solana/Ethereum) stand to benefit from increased volume and integrations. Aligns with SEC’s 2026 guidance treating tokenized equities equivalently to traditional shares, potentially easing approvals and encouraging more institutions to enter RWAs.

24/7 trading might amplify flash crashes or contagion from crypto-style events into equities. Success requires building deep liquidity, preventing fragmentation, and ensuring compliance (KYC/AML via partners like Kraken). This partnership accelerates the “tokenization era,” where equities become programmable, borderless, and always-available assets.

It blurs lines between stock trading and crypto, positioning blockchain as core market infrastructure rather than a niche. If executed well, it could transform global capital markets—starting internationally—while highlighting the growing institutional embrace of on-chain finance.

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