Ukraine Tests Starlink Direct-to-Cell Technology with Kyivstar

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Ukraine’s Kyivstar, the country’s largest mobile operator, has successfully field-tested Starlink’s direct-to-cell satellite technology in Eastern Europe, the company announced Tuesday. The pilot took place in the Zhytomyr region, with Kyivstar CEO Oleksandr Komarov and Ukraine’s Digital Transformation Minister Mykhailo Fedorov exchanging messages via standard smartphones.

WHY IT MATTERS
Direct-to-cell technology allows satellites to beam cellular signals directly to phones, providing connectivity when terrestrial networks are disrupted—a key advantage in war-torn Ukraine, where Russian attacks frequently damage infrastructure. The technology essentially acts as a cell tower in space, improving coverage in areas with limited or damaged ground networks.

GLOBAL CONTEXT
Telecom operators worldwide are exploring satellite solutions to reduce dead zones in remote or challenging terrain. Starlink, owned by SpaceX, has deals with carriers in 10 countries to offer direct-to-cell services, with Kyivstar positioned to be the first European operator to launch commercially.

NEXT STEPS

  • Kyivstar and Starlink plan a commercial rollout in Q4 2025, initially supporting messaging services.

  • Mobile satellite broadband access for broader users is expected early 2026.

  • VEON, Kyivstar’s parent company, is also exploring partnerships with providers such as Amazon’s Project Kuiper to expand satellite connectivity for mobile devices beyond Ukraine.

Circle Surpasses Revenue Estimates in First Post-IPO Quarterly Report

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Stablecoin issuer Circle (CRCL.N) reported stronger-than-expected Q2 revenue in its first quarterly results since going public, sending shares up 5% on Tuesday. The company’s revenue growth was driven by higher USDC circulation and expanded subscription and services offerings.

USDC, Circle’s stablecoin and the second-largest by market value after Tether, grew 90% year-on-year as of June 30. Circle projects USDC circulation to grow at a compound annual rate of 40% in the coming years. The token is increasingly used for cross-border transactions, including both business and individual remittances, CEO Jeremy Allaire said.

Revenue and reserve income rose 53% year-on-year to $658 million, exceeding analyst expectations of $644.7 million, reflecting higher interest earned from cash and short-term investments backing USDC. Subscription and service revenues also contributed to the growth. The company reported a net loss of $482 million, mainly due to non-cash IPO-related charges, including vested employee stock awards and revaluation of convertible debt.

Circle plans to launch Arc, a public blockchain tailored for stablecoin transactions, this fall, aiming to strengthen its role as a core player in U.S. digital payments infrastructure. CFO Jeremy Fox-Geen noted growing institutional interest in USDC following the company’s IPO and the Genius Act, while CEO Allaire emphasized a careful approach to acquisitions despite the stock price rally.

Sea Ltd Beats Revenue Estimates on Shopee and Gaming Demand

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Sea Ltd (SE.N) reported stronger-than-expected quarterly revenue on Tuesday, driven by robust performance in its Shopee e-commerce platform and gaming division Garena, lifting its U.S.-listed shares nearly 19% in early trading.

Shopee revenue surged 33.7% to $3.8 billion in the April-June quarter, with gross merchandise value (GMV) rising 28% to $29.8 billion. The company attributed growth to competitive pricing, enhanced customer experience, and social engagement features like live-streaming and mini-games offering redeemable rewards. Sea now expects Shopee’s annual GMV growth to exceed its prior 20% forecast.

Garena, Sea’s digital entertainment unit, saw revenue climb 28.4% to $559.1 million, fueled by its popular mobile game “Free Fire”, which added 17.8% more paying users and recorded a 23% increase in bookings for the quarter. CEO Forrest Li projected bookings growth for the year to exceed 30%.

Sea’s digital financial products segment, including its Monee app, contributed $882.8 million, up 70%, reflecting rising demand for payment and credit services.

Overall, Sea posted total Q2 revenue of $5.26 billion, up 38.2% year-on-year, surpassing analyst estimates of $4.98 billion. CEO Li highlighted that the company has reached a stage where it can pursue growth opportunities while improving profitability.