Fintech Rundown (12/02) - LSEG, Grab, Stash, Coinbase

LSEG to build blockchain-friendly digital settlement platform for institutional investors called the LSEG Digital Securities Depository, which will connect traditional and digital securities markets. This will enable trading and settlement of tokenised ‌bonds, equities and ⁠private ⁠market assets across multiple blockchain networks, while remaining interoperable with existing settlement platforms. The move comes as LSEG faces pressure to improve performance from activist investor Elliott Management, which has built a stake in the company and is pushing for changes, after the company's shares fell ⁠more than ‌35% over the past year.

Next up, Southeast Asian ride-hailing and food delivery giant Grab is acquiring digital investment platform Stash, broadening its financial services footprint as the superapp becomes profitable. Under the cash-and-stock deal, Grab will buy U.S.-based Stash in two tranches. It will acquire 50.1% of the company based on an enterprise value of $425 million, while the remaining stake will be bought based on fair market value in the next three years.

And finally, Coinbase says it has developed the first crypto wallet infrastructure designed for AI agents. The cryptocurrency exchange says its Agentic Wallets, let users quickly equip agents with autonomous spending, earning and trading capabilities. The wallets also offer users protections, such as session caps that let them determine the maximum an agent can spend per session, as well as controls on individual transaction sizes.