CryptosHeadlines.com - The Leading Crypto Research Network

Zodia Custody, the crypto branch of Standard Chartered bank, is introducing a service called “Zodia Custody Yield.” This service allows its clients to earn rewards on their crypto assets.

Ad. Get UPTO $50 USDT Reward From CryptosHeadlines. Visit Official Tweet

They have teamed up with OpenEden to tokenize real-world assets like treasury bills, enabling investors to earn yield while utilizing blockchain advantages.

Zodia Custody’s new yield offering allows institutional investors to benefit from off-chain yield opportunities for their on-chain assets while maintaining the high security standards of Zodia Custody’s platform. This includes the option of staking, where crypto owners lock up their digital assets to secure the blockchain and, in return, earn periodic crypto rewards.

Staking is an attractive way for crypto businesses to earn, but it comes with regulatory challenges for U.S.-based firms. Companies like Kraken and Coinbase have faced legal action from the Securities and Exchange Commission (SEC) for offering similar products to retail customers without providing the necessary risk disclosures.

Growing Interest in Staking Services Among European Firms

European companies are increasingly embracing staking services. Boerse Stuttgart Group, a major German exchange, recently announced a staking service for institutional clients due to the rising interest in staking from institutional investors.

Zodia Custody, in response to institutional demand, is offering a service that provides “low-risk, liquid, and transparent” digital asset products, particularly for stablecoin holders. Stablecoins are blockchain-based tokens backed by traditional currencies like the dollar, making them popular for transferring value and serving as collateral in blockchain and DeFi applications.

Zodia Custody Seeks to Unlock Yield for Stablecoin Investors

Jeremy Ng, co-founder of OpenEden, highlighted the untapped potential of billions of dollars in stablecoins that could be earning returns for investors. OpenEden and Zodia Custody aim to seize this opportunity by offering tokenized financial products that prioritize safety and transparency, particularly for institutional investors.

Julian Sawyer, CEO of Zodia Custody, believes that many aspects of traditional finance can be transitioned to the world of digital assets.

Zodia Custody recently expanded its crypto custody services to Singapore, demonstrating its commitment to serving the global crypto market.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #CryptoNews #cryptomarket #StandardChartered #staking

Standard Chartered Bank has restated its previous projection that Bitcoin (BTC) will achieve a value of $100,000 by the end of 2024.
Standard Chartered Bank has restated its previous projection that Bitcoin (BTC) will achieve a value of $100,000 by the end of 2024. Geoff Kendrick and the team at the bank conveyed their confidence that the approval of various spot Bitcoin ETFs in the United States will serve as the next driving force behind the cryptocurrency's expansion, with these events expected to happen earlier than initially foreseen.
The bank anticipates that multiple spot ETFs for both BTC and ETH will likely be granted approval in the first quarter of 2024, thereby paving the way for heightened institutional investment. Furthermore, Standard Chartered emphasized the forthcoming Bitcoin "halving," an event that restricts the currency's supply and is predicted to occur in late April 2024, as an additional factor that could contribute to potential price increases.
Standard Chartered originally predicted BTC will hit $120,000 by end of next year, attributing Bitcoin's triumph to its status as a reputable safe haven asset. The bank maintains BTC's dominance, stating: “BTC’s dominance remains intact – its share of overall digital assets market cap has increased to 50% from 45% in April."
#BinanceTournament $BTC
#StandardChartered

Standard Chartered Bank Increases Bitcoin Price Target to $120,000

Standard Chartered Bank, a leading global financial services company, has increased its #bitcoin price target to $120,000 by the end of 2024. The bank's previous price target was $100,000. #StandardChartered

The bank's research report cited an increase in miner profitability as one potential tailwind that could trigger an appreciation in the price of the cryptocurrency. Miners are the entities that validate transactions on the bitcoin network and are rewarded with newly minted bitcoins. $BTC

The report's, estimated that miners have recently been selling 100% of their new coins. However, if the price of bitcoin reaches $50,000, they would probably only sell 20-30% of their new coins. This would reduce the supply of bitcoin on the market, which could drive up prices.

The report also noted that bitcoin is becoming increasingly institutionalized. This means that more and more large financial institutions are investing in bitcoin. This trend is likely to continue, which could also drive up prices.

Overall, the report's findings suggest that bitcoin is poised for further upside in the coming years. However, it is important to note that the cryptocurrency market is volatile and that prices could fluctuate significantly in the short term. #BTC

Conclusion

Standard Chartered Bank's increased price target for bitcoin is a bullish signal for the cryptocurrency. The bank's analysis suggests that miner profitability and institutional adoption are two factors that could drive up prices in the coming years. However, it is important to note that the cryptocurrency market is volatile and that prices could fluctuate significantly in the short term.

#GOATMoments #Binance

$BNB $SOL

CryptosHeadlines.com - The Leading Crypto Research Network

Standard Chartered expects Bitcoin to reach $50,000 by the end of 2023 and believes Ethereum could hit $8,000 by 2026.
The latest prediction is an increase from the bank’s previous forecast of $100,000 made in April. Geoff Kendrick, one of the bank’s top analysts, is feeling positive and thinks that Bitcoin could go up by about 20%. In the best-case scenario, he envisions Bitcoin reaching $120,000 by 2024.
The big British bank is now one of the major financial institutions that like Bitcoin. They think the tough times for Bitcoin are over, and miners might be holding onto more of it.
Even though the Bitcoin market has been up and down, it’s gone up by 63.46% so far this year, which is good for miners. They might not sell as much of what they mine.
The analyst from Standard Chartered also says that the estimate of $8,000 for Ethereum is playing it safe. In the long run, he thinks it could go much higher, maybe between $26,000 and $35,000. He believes there are more ways Ethereum can make money that we haven’t seen yet.
One more important thing is that people are hoping for a Bitcoin exchange-traded fund (ETF) in the U.S., and if the regulators approve it, it could make Bitcoin’s price go up.
Bitcoin Predictions Get Bolder
Apart from the optimistic Bitcoin prediction by Standard Chartered, other leading experts are making highly positive forecasts.
Cathie Wood, the founder of Ark Invest, a company that manages assets, is a strong supporter of a significant increase in Bitcoin’s price. She has made a prediction that Bitcoin could reach as high as $1 million by the year 2030. She also set a price target of $160,000 for Ethereum within the same period.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoMarket #Bitcoin #CryptoNews #StandardChartered #Ethereum

CryptosHeadlines.com - The Leading Crypto Research Network:

HashKey Exchange has obtained approval from the Hong Kong Securities Regulatory Commission for type 1 and type 7 licenses, allowing the exchange to offer retail trading services under the new crypto regulatory regime.

This milestone makes HashKey Exchange the first cryptocurrency exchange in Hong Kong to provide crypto retail trading, aligning with the city’s ambition to establish itself as a prominent global hub for the digital asset industry.

On August 3, Hong Kong’s crypto exchange, HashKey Exchange, announced that it has upgraded its type 1 and type 7 licenses to provide crypto trading services to retail investors. HashKey Exchange, along with OSL, are currently the only two compliant exchanges operating in Hong Kong.

HashKey Partners with Standard Chartered, Launches OTC Trading Service

HashKey, the Hong Kong-based crypto exchange, has teamed up with Standard Chartered Bank to offer fiat currency deposit and withdrawal services to its users. Additionally, the exchange has introduced a virtual asset over-the-counter (OTC) trading service. However, retail investors are limited to trading only the top cryptocurrencies like Bitcoin and Ethereum.

The recent upgrade of HashKey’s existing licenses enables the exchange to expand its business scope from serving professional investors to retail users, signaling a broader reach for its services.

Operating across various sectors, including venture funding, asset management, and trading, HashKey Group has revealed plans to raise $100 million to $200 million at a valuation surpassing $1 billion. This move aligns with Hong Kong’s ambition to establish itself as a global cryptocurrency hub.

Hong Kong Attracts Crypto Firms Amid Regulatory Scrutiny

Crypto-focused firms, including Huobi, OKX, and Amber Group, have expressed intentions to obtain licenses and offer crypto services in Hong Kong. Despite the regulatory scrutiny and crackdown in various countries, Hong Kong has become an appealing destination for such firms, with even giants like Binance and Coinbase exploring the market.

Furthermore, Hong Kong has signed agreements with the UAE and Saudi Arabia to enhance financial and crypto collaboration. The city’s authorities are also working with Singapore and other countries to facilitate cross-border transactions and Central Bank Digital Currency (CBDC) initiatives.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptocurrencyNews #NFT #Web3 #HashKey #StandardChartered

#BinanceTournament Standard Chartered's Zodia Custody has joined Ripple-owned institutional-grade custody firm Metaco's network. XRP price uplifts.Zodia Custody, an FCA-registered institution-first digital asset custodian by #StandardChartered and Northern Trust, has joined Ripple-owned institutional-grade custody firm Metaco’s network. This marks a significant development amid recent changes in Metaco’s ownership and weighted demand for crypto storage and settlement networks amid regulatory concerns.Zodia Custody Joins Metaco’s Crypto Storage & Settlement NetworkZodia Custody has now joined Metaco’s global crypto storage network. The new custody solution gives institutions easy access to crypto storage and settlement, with complete security.Julian Sawyer, CEO of Zodia Custody, Metaco has seen global banks such as Societe Generale, BNP Paribas, and BBVA. This allows the firm to have them safeguard and manage crypto assets for institutions.Zodia Custody had an earlier collaboration with Metaco for institutional crypto custody solutions. Standard Chartered’s investment and ventures arm SC Ventures also had a stake in Metaco but it sold its stake in May this year. Ripple announced the acquisition of Metaco for $250 million in May itself.The integration with Metaco’s network offers global sub-custody, a service when an institution contracts another custodian to hold assets for it.“For example, a client in Brazil, who is a custodian, may want to store some assets in the UK, and they’re not currently in the UK. So they could use us as their sub-custodian and use our regulatory permissions, etc. I think the multiple networks that are out there are really key in terms of linking custodians together, and linking custodians to #exchanges and venues in a compliant manner,” said Sawyer.XRP Price to RallyThe move comes amid a joint venture by SC Ventures and #SBI Holdings. It aims to leverage SC Ventures’ experience in digital assets through ventures such as Zodia Custody and Zodia Markets, and through our investments in fintechs like Ripple and Metaco.XRP price jumped 3% in the past 24 hours, with the price currently trading at $0.63. The 24-hour low and high are $0.618 and $0.634, respectively. Furthermore, the trading volume has increased by 100% in the last 24 hours, indicating interest among traders.The price to upswing amid a broader market rally and mainstream adoption of $XRP in several applications including cross-border transactions.#Airdrop 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. @WISE CRYPTO NEWS