TabbFORUM: The Biggest Fintech and Capital Markets Stories of 2025 – and What’s Coming in 2026

By Anna Lyudvig

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2025 Review: In 2025, the defining story was the overnight market’s transition from a promising extension of the trading day into a fully fledged, competitive ecosystem. For years, the barrier to true 24-hour participation wasn’t demand – investors were already active – but the absence of infrastructure that could support continuous activity with the same rigor as the core session. That changed materially over the past year. Multiple operational venues introduced real redundancy, better routing technology came to market and volumes have grown accordingly. These milestones gave Korean regulators the confidence to allow their domestic traders back into the market in November, further enhancing volumes. It all amounts to the clearest proof yet that round-the-clock trading can function as a seamless, institutional-grade experience. For our part, we’re receiving a tremendous amount of interest and questions about our infrastructure, capabilities and support, and we encourage interested parties to keep the questions coming.

2026 Outlook: Now that overnight trading has real footing, attention is shifting to the products and infrastructure that will define the next phase of growth. One under-the-radar development is the quiet acceleration of equity-linked tokenization efforts: if these instruments begin to scale, overnight markets become even more central as the natural venue for minting, burning and lifecycle events that need to occur in real time. Parallel to this, the industry will increasingly need more nimble, integration-ready data services that can onboard new participants and support novel asset types without long lead times. With more firms entering the overnight space, brokerages and data services that do not build robust data feeds that account for all markets will put their customers at a disadvantage.