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Stablecoins are finding product-market fit in emerging markets
Five years ago, SpaceX launched Starlink, which has since grown into its biggest revenue driver, expanding to over 100 countries. But as Starlink scaled,
Peak XV and HongShan, the firms that split from Sequoia, co-led a $10 million seed round in KAST, a neobank that lets users hold and spend stablecoins. Similarly, the UAE made headlines last year when a court ruling permitted salaries to be paid in crypto, reinforcing the country’s position as a global hub for digital asset innovation. Whether their stance changes or not may depend on how regulation shapes up in the U.S., which is considering new laws that would have a global impact on stablecoins: A strict regulatory approach—though unlikely—could slow adoption and impose tighter financial controls on issuers.
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