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KAST, a financial technology platform leveraging stablecoins, has raised US$10 million in seed funding led by HSG and Peak XV Partners. The platform aims to enhance the banking experience globally, offering USD-denominated accounts and payment cards in over 150 countries, facilitating faster and cheaper transactions without relying on traditional fiat systems. With strong early traction, KAST is positioned to transform financial services for digital nomads and users in regions with unstable currencies.
Backpack, a prominent exchange and wallet, is set to integrate with Sui, a Layer 1 blockchain known for its speed and scalability. This partnership will enhance user experience and create new opportunities for projects on Sui, while Backpack's wallet will support secure management of various digital assets, including Sui. The collaboration aims to broaden the impact of both platforms, attracting millions of Sui enthusiasts and developers.
Backpack, a prominent exchange and wallet, is set to integrate with Sui, a Layer 1 blockchain known for its speed and scalability. This partnership will enhance user experience and create new opportunities for projects on Sui, while Backpack's wallet will support secure management of digital assets across platforms. With a user base spanning over 150 countries and a trading volume of $60 billion, this integration aims to broaden access for Sui developers and enthusiasts.
Foreign direct investment (FDI) in India surged by 45% year-on-year to $29.79 billion during April-September 2024, driven by strong inflows in services, telecom, and pharma sectors. The April-June quarter alone saw a 47.8% increase, totaling $16.17 billion. Maharashtra led the states with $13.55 billion in FDI, followed by Karnataka and Telangana.
Southwest Airlines' director now owns 3,606,311 shares valued at over $108 million, marking a 21.73% increase in their position. Institutional investors hold 80.82% of the stock, with recent significant purchases from Olstein Capital and Mizuho Securities. Analysts maintain a "hold" rating, with UBS Group setting a target price of $27, indicating a potential downside of 16.74%.
Nissan shares surged nearly 21% after activist investor Effissimo Capital Management disclosed a 2.5% stake in the company. This comes as Nissan faces significant challenges, including a plan to cut 9,000 jobs and reduce global manufacturing capacity by 20% amid a sales slump. The stock had recently hit a four-year low, but closed up 12.8% at 415.8 yen.
The Dow snapped a three-day win streak as Kenvue shares surged 5.5% amid investor support for Starboard. GE Aerospace and GM are set to report, with GM up 86% from a post-strike low. Lockheed Martin and RTX also near recent highs, while several new IPOs are expected on Wall Street.
Composite Capital Master Fund LP has divested its 10% stake in VPBank, reducing its holdings from 8 million shares to none as of October 9. Meanwhile, the Tianhong Vietnamien Market Equity Launched QDII Fund has acquired 8 million shares, representing nearly 91% of VPBank's capital. In related news, TPBank has seen PYN Elite Fund increase its holdings to 2024 million shares, while the International Finance Corporation has exited its stake.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
KAST raises 10 million dollars to revolutionize banking with stablecoins
07:52 12.12.2024
Backpack Exchange integrates Sui enhancing user experience and scalability for digital assets
15:33 11.12.2024
backpack exchange integrates with sui enhancing user experience and scalability
15:14 11.12.2024
foreign direct investment in india rises 45 percent to 29.79 billion
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