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Very Curious Pi Network (PI) Fact: Details

TL;DR Pi Network users in South Korea surpass Binance’s user base in the country. The project’s open mainnet launch awaits final verifications, with updates expected in the following weeks. Pi Network Outpaces Binance on This Front The cryptocurrency project Pi Network, which allows individuals to mine digital assets directly from their smartphones, remains one of the most discussed topics in the space. It saw the light of day over five years ago but its open mainnet and native token have yet to go live. Despite the surrounding controversy, Pi Network has amassed a multi-million community. Not long ago, the team revealed the project’s application had exceeded the milestone of 100 million downloads. One country where Pi Network has created a stronghold is South Korea. Wu Blockchain recently reported that the exact figure of local users has reached 1.34 million. In fact, the only two domestic crypto-related entities having more users are the popular exchanges Upbit (4.36 million) and Bithumb (2.24 million). The local Pi Network community outpaced Binance’s clients in South Korea in terms of numbers. Those employing the services of Coinbase, Bitget, and Bybit are also outnumbered by the project’s users. Other Asian countries with solid Pi Network communities include China, Vietnam, India, Japan, Singapore, Malaysia, and others. Recent Pi Network Updates As mentioned above, the Pi Network community is still waiting for the launch of the project’s native cryptocurrency and open network. Earlier this year, the team claimed that the latter will see the light of day once 15 million users complete the necessary verifications. Not long ago, Pi News revealed that 14 million people have already complied with the rules, with only one million left to do so . The final deadline is December 31. The date was moved several times, causing mixed reactions from the community. The latest extension was disclosed at the end of November, after which some people speculated that the team might continue to announce delays instead of setting things into motion. Meanwhile, December is expected to be quite eventful for Pi Network users. After all, the Pi Core Team previously promised to announce the mainnet open roadmap, which should provide more clarity on when users will be able to buy and sell Pi tokens. It remains to be seen whether the final weeks of 2024 will bring significant developments or if the pessimists will turn right. The post Very Curious Pi Network (PI) Fact: Details appeared first on CryptoPotato . The Coin Rise

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KAST Secures $10 Million Seed Round Led by HSG and Peak XV Partners

December 12, 2024 – Cayman Islands, George Town KAST , a financial technology platform built on stablecoins to deliver a neobank-style experience, has raised $10 million in seed funding. The round is led by HSG (HongShan Capital Group) and Peak XV Partners. A number of high-profile angels, partners of DST Global and Goodwater Capital also joined the round. Raagulan Pathy, co-founder of KAST, said, “For most countries and over half of global GDP, banking does not match the openness and speed of the internet – it’s fundamentally broken. “Stablecoins are the clear solution, but the user experience wasn’t great. We are building KAST to change this.” Pathy is a stablecoin expert, formerly the vice president for Asia Pacific and CEO for Singapore at Circle, best known for USDC. KAST offers payment cards and USD-denominated accounts to people in over 150 countries, the ability to receive and send cash and working with partners such as Bridge, recently acquired by Stripe. KAST will soon launch savings and other remittance products – all without the need to touch fiat directly. The maturing of stablecoin regulation and acceptance has led to rapid integration with TradFi (traditional finance) networks, enabling users to send money faster, cheaper and more securely. KAST highlighted use cases such as holding USD stablecoins as an alternative to volatile currencies, enabling people to buy imports and travel with a card and allowing remote workers globally to get paid. Daniel Bertoli, co-founder of KAST and former partner at Quona Capital, a global FinTech fund that focuses on investments in neobanks, said, “The next generation of neobanks will be built on stablecoins and inherently global by DNA. “They will differ fundamentally from the current generation of neobanks, which are limited in countries due to licensing and struggle in integrating blockchain – their core systems and capabilities are just too different.” KAST has completed a $10 million seed funding round at an undisclosed valuation. Within its first four months, the company has demonstrated strong early traction in terms of user adoption and revenue. The team views this as a reflection of significant global interest in its platform. Stablecoins have experienced remarkable growth with over $170 billion in supply and $8.5 trillion transaction volume in Q2 2024 by over 125 million users. Analysts predict by 2030 – user numbers will exceed one billion and supply will surpass $1 trillion. Alex Svanevik, CEO and co-founder of Nansen.ai, an early investor in KAST, said, “KAST delivers real benefits to global users. Their USD-denominated accounts provide a safe haven for hard-earned income when local currencies decline, especially for those without access to traditional US accounts. “As more digital nomads receive salaries in stablecoins, they can now bypass the hassle of legacy rails. “International transfers that once took weeks can now be completed instantly and at virtually no cost.” Users can visit the KAST website to learn more about KAST and discover how their innovative offerings can transform financial experience. Testimonials from card users @Mardeni01 said , “I spent two weeks at the bank trying to open a simple savings account. They asked for more than 10 documents ([approximately] 100 papers) and had to sign and stamp each of them. “And I opened a crypto card @KAST_official in literally [two minutes]. “Why would anyone go after traditional cards anymore? If I don’t need my bank statements for embassies, I would always use crypto cards like @KAST_official.” @Alpha69Bets said , “One tap to solve all my issues. That’s all it took when I got my KAST card. Here’s a quick recap – I’ve been traveling a lot lately, and exchanging money has always been a hassle. “You usually end up losing five to eight percent in the process by the time the cash is in your hand. “A friend of mine sent me a link and said, ‘Give this a try!’ Fast forward two months, and I’ve been tapping away quite a lot. “Thanks to @KAST_official … I’ve used it across five countries over the last couple of months without any issues. It’s made international spending and crypto usage incredibly simple.” @Alexspoof said , “I just used my @KAST_official card to pay for my project’s domain name, and it worked seamlessly. “All I had to do was fund it with Solana USDC. This is actually a game-changer for me and any other thing I’ll want to do with it.” About KAST KAST is transforming the financial technology landscape by offering a seamless blend of stablecoin technology with traditional payment means. The KAST platform enables USD accounts globally to over 150 countries, reaching over five billion people – offering a solution where banking falls short. The silky-smooth user experience is taking mainstream the openness, speed and security of stablecoins. KAST enables users to send, receive, save and spend funds across borders efficiently. For more information, users can visit the website . Contact Bas , vice president of global partnerships at KAST This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements The post KAST Secures $10 Million Seed Round Led by HSG and Peak XV Partners appeared first on The Daily Hodl . The Coin Rise