Welcome to Kaupr Today

Good morning. Today we share some highlights from the Blockchain Sweden new industry report, including video interviews from the launch event with Pehr Granfalk and Hanna Raftell. Just scroll further down to get to the summary and video links.

These are the other headlines today, which shows that as the Iran war continues, AI and the digital asset space continues to disrupt traditional finance and business.

• How Strait of Hormuz closure can become tipping point for global economy

• SEC and CFTC to formalize joint oversight in new understanding

• Lovable adds $100M ARR in a single month with just 146 employees

• Nasdaq and Boerse Stuttgart Group’s Seturion partner up

• Ethereum Vs. Canton: Two Different Paths To Institutional Blockchain

• Mastercard Moves to Normalize Crypto Inside Its Payments Ecosystem

Have a good 5-minute read!

Morten

War, macro, trade and global economy

How Strait of Hormuz closure can become tipping point for global economy

A de facto shutdown of the Strait of Hormuz is freezing flows of oil, gas and key industrial goods, with knock‑on effects expected to hit ports, factories and consumers worldwide as rerouting and reserves struggle to keep up.

Why it matters: A prolonged closure risks turning a regional conflict into a global economic shock by driving up freight, energy and input costs and reigniting inflation pressures.

Source: How Strait of Hormuz closure can become tipping point for global economy, CNBC

US regulation and oversight

SEC and CFTC to formalize joint oversight in new understanding

The SEC and CFTC plan to sign a memorandum of understanding that formalizes joint oversight of overlapping markets, including crypto assets, with coordinated exams, data sharing and enforcement instead of separate, duplicative actions. The MoU is expected to clarify how they divide responsibilities across securities- and commodity‑type tokens while creating shared processes for supervising firms active in both regimes.​

Why it matters: A formal joint framework can reduce regulatory fragmentation for crypto intermediaries and make coordinated oversight and enforcement more likely where both agencies claim jurisdiction.​

Source: SEC and CFTC to formalize joint oversight in new MoU, CoinMarketCap Academy

Swedish AI startup to love

Lovable adds $100M ARR in a single month with just 146 employees

TechBuzz reports that Stockholm-based AI “vibe coding” startup Lovable added around 100 million dollars in new annual recurring revenue in February alone, taking it to roughly 400 million dollars in ARR while still operating with only 146 full‑time staff. The company has been disclosing stepwise ARR milestones ($100M, $200M, $300M, and now $400M) to underscore accelerating growth and unusually high revenue per employee, and plans to expand headcount toward roughly 300–350 people this year as it opens offices beyond its Stockholm engineering hub.

Why it matters: Lovable is becoming a flagship example of how AI-native, product‑led software companies can reach hundreds of millions in ARR with a fraction of the headcount and funding traditionally required, raising the bar for capital efficiency and growth expectations in SaaS and AI tooling.

Source: Lovable adds $100M ARR in single month with just 146 employees, TechBuzz

European tokenization infrastructure

Nasdaq and Boerse Stuttgart Group’s Seturion partner to drive pan-European tokenized asset settlement

Nasdaq plans to connect multiple European trading venues to Boerse Stuttgart Group’s Seturion platform so trades in tokenized assets can settle faster and more cheaply on shared infrastructure. The initiative aims to create a common pan‑European plumbing layer for tokenized securities, linking existing market venues to new on‑chain settlement rails.​

Why it matters: If successful, this could accelerate institutional adoption of tokenized assets in Europe by giving exchanges and brokers a ready-made, interoperable settlement backbone instead of fragmented, bespoke pilots.​

Source: Nasdaq and Boerse Stuttgart Group's Seturion Partner to Drive Pan-European Tokenized Asset Settlement, Nasdaq

Which smart contract platforms to use

Ethereum Vs. Canton: Two Different Paths To Institutional Blockchain

The piece by Jon Helgi Egilsson contrasts Ethereum’s global, public smart-contract ledger with the Canton Network’s privacy-preserving, institution-focused architecture, arguing that both are emerging as core infrastructure options for tokenized capital markets. It describes Ethereum as an open, programmable base layer for assets like tokenized bonds and funds, while Canton is framed as a “network of networks” where large financial institutions can maintain transactional confidentiality and regulatory controls.

Why it matters: The divergence between Ethereum and Canton shows how institutional blockchain is likely to split between open public networks and permissioned, interoperability-focused consortium chains, with major asset managers and market operators exploring both paths in parallel.

Source: Ethereum Vs. Canton: Two Different Paths To Institutional Blockchain, Forbes

Major Mastercard crypto move

Mastercard Moves to Normalize Crypto Inside Its Payments Ecosystem

Mastercard is rolling out a Crypto Partner Program with more than 85 industry players and a Multi‑Token Network so banks, fintechs and merchants can use stablecoins and tokenized deposits for settlement behind the scenes while consumers keep paying as usual. The focus is on using private blockchain rails, standardized on/off‑ramps and tools like Crypto Credential to make digital assets behave like any other payment method inside its global network.

Why it matters: By embedding crypto and stablecoin infrastructure directly into one of the world’s biggest card networks, Mastercard is pushing digital assets toward invisible, mainstream use in payments rather than speculative trading niches.

Source: Mastercard Moves to Normalize Crypto Inside Its Payments Ecosystem, PYMNTS​

Highlights from Blockchain Sweden report

Growing curiosity about blockchains – but the Swedish public remains stuck in old myths

Interest in blockchains is rising in Sweden across finance, academia and politics, but Blockchain Sweden’s latest industry report finds that the general public still associates the technology mainly with anonymity, crime and speculation. The report also notes that while more companies see reasons to stay in Sweden, many still face strained relationships with banks and tough framework conditions at home.

Why it matters: The gap between growing institutional curiosity and persistent public myths risks slowing real-world blockchain adoption in Sweden, especially if banking access and regulation do not evolve in step with the technology.

Source: Growing curiosity about blockchains – but the Swedish public remains stuck in old myths, Kaupr

How is Sweden’s blockchain sector evolving – and what’s holding public perception and Swedish banks back?

An video interview with Pehr Granfalk from the launch of Blockchain Sweden’s Industry Report 2025 highlights that Swedish blockchain companies see slightly better business conditions and more positive consumer attitudes, but still struggle with banking access, regulatory burden and lingering myths about the technology. ​

Why it matters: The findings suggest Sweden risks remaining a user rather than a builder of blockchain solutions unless banks, regulators and public debate catch up with the technology’s broader potential.​

Source: How is Sweden’s blockchain sector evolving, Kaupr on LinkedIn

“We have a job to do if we want to be a leader”

A video interview with Hanna Raftell from Blockchain Sweden’s Industry Report 2025 launch argues that Sweden risks ending up as a user rather than a builder of blockchain solutions unless companies, banks and policymakers move from talk to concrete pilots and production use cases. The speakers stress that Sweden has the talent and infrastructure, but needs clearer rules, better banking access and stronger collaboration to turn its early advantages into real leadership.

Why it matters: The conversation highlights that Sweden’s role in the next wave of digital finance will depend on execution and political will, not just its historic reputation for innovation.

Source: We have a job to do if we want to be a leader, Kaupr on LinkedIn

What to watch for

FOMC meeting and US inflation data later this month can reset the path for rate cuts and risk assets, including crypto and high‑growth tech. Regulatory moves on AI and stablecoins, from EU AI Act enforcement to MiCA‑driven stablecoin rules, can shape how quickly enterprises and payment players scale new products.

Why it matters: Markets are trading every macro data point and rule change as a signal of how fast AI and digital assets move from “experiments” to core infrastructure, which directly affects funding, valuations and adoption for the builders you’re following.

Share Kaupr Today

Thank you for reading Kaupr Today. If you find this briefing useful, please share it with a colleague or friend who should be following Nordic and European digital‑finance news more closely. Wishing you a great Thursday — and welcome back on Friday morning for the next edition of Kaupr Today.

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Best regards
Morten Myrstad
Founder & Editor