Hi, and welcome to a new edition of Future of Finance Premium.

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While cryptocurrency markets continue to move in cycles of optimism and uncertainty, the more important story is unfolding more quietly in the background. Across the Nordics and globally, institutions, infrastructure providers, regulators and new technology companies are continuing to build what may become the next generation of financial infrastructure.

Over the past few weeks, we have seen new data on cryptocurrency adoption, new investment platforms being developed, companies strengthening their Bitcoin treasury strategies, regulators continuing their work on stablecoins and digital money, and exchanges and fintech companies repositioning themselves for a more institutional and regulated market.

Taken together, these developments suggest that the digital asset industry is moving into a new phase, from early experimentation and retail-driven growth toward institutional integration, new market infrastructure, and a gradual rebuilding of parts of the financial system on new technological foundations.

In this edition of Future of Finance Premium, we share some of the recent signals from the Nordic region and globally that help illustrate this transition.

If you want to update yourself about crypto adoption trends, scroll down to read more, or go directly to one of these landing pages:
Nordic Crypto Adoption Week - 23 - 26 March 2026 - recordings, findings, reports
Baltic Crypto Adoption Week - 7 - 9 April 2026 - schedules and links to Linkedin and YouTube.

Best regards,
Morten

H100 continues to expand its Bitcoin holdings and is positioning itself as a Bitcoin treasury company with links between Switzerland and the Nordic region. The move reflects a broader trend where companies are beginning to use Bitcoin not only as a speculative asset, but as part of their balance sheet and capital strategy. If more companies follow similar approaches, Bitcoin could gradually move from being primarily an investment asset to becoming part of corporate treasury and financial strategy.

Safello’s founder Frank Schuil has returned as CEO with a renewed focus on artificial intelligence and institutional services. The shift suggests that Nordic crypto companies are repositioning themselves for a market that is becoming more regulated, more institutional and more technology-driven. The increasing focus on AI also reflects a broader trend where fintech and digital asset companies are exploring automation, compliance tools and smarter financial infrastructure.

Norges Bank Investment Management has integrated large language models into the management of the world's largest sovereign wealth fund. AI tools are now used to screen the entire portfolio and identify risks before markets react.

Norway's Government Pension Fund Global – managing $2.1 trillion in assets – is the world's largest sovereign wealth fund, owning on average around 1.5 percent of every listed company globally. It is managed by Norges Bank Investment Management (NBIM) on behalf of the Norwegian people and operates under strict ethical guidelines that prohibit investments in companies linked to corruption, forced labour, and serious environmental harm.

Norwegian crypto exchange Firi is expanding into Sweden as part of its ambition to become a leading Nordic crypto platform. The move comes at a time when MiCA regulation is reshaping the European market and increasing the importance of scale, compliance and infrastructure. Expansion across Nordic borders suggests that the market may gradually consolidate into fewer but stronger regional platforms competing with larger international exchanges.

Coinmotion has launched Swish and direct bank transfer integration for Swedish users, making it easier for customers to move money between bank accounts and crypto platforms. While this may appear as a small product update, it represents an important step toward integrating digital assets into everyday financial infrastructure. Easier on- and off-ramps are likely to play a key role in broader adoption and in making digital assets part of mainstream financial services.

Nordic crypto platforms use BankID, Vipps, Swish, MobilePay, and direct bank deposits to make it easier and safer to get started with cryptocurrency trading. The focus is on simple user journeys, not new payment habits.

Both Nordic and global exchanges are now adopting FIRI's success formula from Norway: tight integration with national ID and payment solutions, and uncompromising prioritization of user experience. Recently, both BTCX and Coinmotion have launched such solutions for Swedish users.

Both Norges Bank and Swedish regulators continue their work on central bank digital currencies, stablecoins and tokenized bank deposits. These initiatives show that digital assets are increasingly part of the broader discussion about the future of money, payments and financial infrastructure, even as central banks remain cautious in their public communication.

Visa Direct is partnering with Moonrise – the platform of Nordic challenger bank Lunar – to connect to local payment systems in Denmark, Sweden and Norway through a single API. The agreement expands Visa Direct's global platform with local Nordic infrastructure. The integration provides access to virtual accounts, pay-ins and pay-outs across the three countries' national payment schemes – consolidated through a single technical connection.

A new investment platform connected to Nasdaq Stockholm aims to give public market investors access to private growth companies. This reflects a broader trend where technology and new platforms are used to expand access to private markets, an area where tokenization could play an important role in the future by making private assets more accessible and liquid.

The New York Stock Exchange is developing new infrastructure related to tokenized assets, including a tokenization platform and new digital asset initiatives. This is a strong signal that tokenization is moving closer to the core of traditional financial markets, not only as a niche experiment but as part of the future market infrastructure.

Asset manager Bitwise has acquired Chorus One, expanding its business into staking and on-chain yield infrastructure. This reflects a broader shift among asset managers, where digital assets are no longer only about price exposure through ETFs and ETPs, but also about participating directly in blockchain networks and their economic models.

Crypto, digital assets, stablecoins and agentic AI are increasingly becoming part of the agenda at fintech conferences such as Stockholm Fintech Week. The combination of AI and blockchain may play an important role in the next phase of financial innovation, particularly in areas such as trading, compliance, risk management and automation of financial services.

The latest data and discussions from Nordic Crypto Adoption Week provide a clearer picture not only of how many people own cryptocurrencies in the region, but also how the market is structured and how users interact with digital assets.

Around 2.5 million adults in the Nordics now own cryptocurrencies, and adoption continues to grow for the second year in a row, driven by strong growth in Sweden and steady development in Denmark. But beyond the ownership numbers, the findings reveal a more important structural shift.

Via this landing page, you can find recordings, findings and reports from Norway, Sweden, Denmark, Finland and for the Nordics together.

In Sweden, a significant share of investors gain exposure to cryptocurrencies through regulated ETP products on traditional investment platforms such as Avanza and Nordnet. This suggests that cryptocurrencies are increasingly being integrated into traditional investment infrastructure and accessed in the same way as stocks and funds. In Norway, local crypto platforms continue to play an important role in making crypto accessible and compliant, while in Denmark and Norway younger investors increasingly view cryptocurrencies as an alternative to traditional equities.

At the same time, the data shows that the user base is relatively technologically savvy, but still highly focused on security, usability and trust. The combination of regulated products, local platforms and growing institutional involvement suggests that the Nordic market is gradually moving from an early adopter phase toward a more structured and integrated digital asset market.

While the Nordic market shows signs of integration with traditional finance, the Baltic region is positioning itself slightly differently as a dynamic environment for fintech companies, blockchain startups and international crypto companies establishing operations in the European Union.

Baltic Crypto Adoption Week marks the first time adoption is being mapped simultaneously across Estonia, Latvia and Lithuania using the same survey methodology as in the Nordics. This creates, for the first time, a comparable data set across the Nordic–Baltic region, providing investors, companies and regulators with a clearer picture of how adoption, demographics and usage differ between the markets.

Via this landing page you can find more information about the Baltic Crypto Adoption Week, including where to follow four live events, via Linkedin, YouTube or Kaupr.

Crypto adoption in the Baltics is driven by a mix of tech-savvy retail users, international crypto companies setting up operations in the region, and local financial institutions exploring digital asset services. As European regulation such as MiCA is implemented, the region is likely to see further consolidation and professionalization of the market, potentially positioning the Baltics as an important operational and innovation hub for digital asset companies in Northern Europe.

Kaupr also continues its monthly Kaupr TV Live broadcast, a one-hour program streamed from a professional studio and hosted by Mor no ten Myrstad and Leon Aleksander Solbakken. The show covers recent developments in digital finance, conversations with guests from the industry, and discussions on key trends shaping the market.

If you are new to Kaupr TV, you can watch recent recordings here:

→ Watch the February 27 broadcast

→ Watch the January 23 broadcast

→ Visit the Kaupr TV landing page for more episodes and updates

Thanks again for reading the Future of Finance Premium newsletter! We’d love to hear your feedback and any suggestions for topics you’d like us to cover next. And don’t forget to subscribe so you never miss an update!

Best regards,

Morten

Founder & Editor