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SWIFT has introduced a global infrastructure to streamline transfers and settlements of tokenized assets (RWAs).
‼ ️ Vega Protocol has ceased to exist
Members of the Vega Protocol L1 blockchain community voted to shut down the network and suspend support for the VEGA token due to the project's low popularity.
The network will continue to operate at least until October 27 to provide users time to withdraw their funds.#Blockchain #protocol #swift #Tokenization $USDC #MarketSentimentToday
‼ ️ Vega Protocol has ceased to exist
Members of the Vega Protocol L1 blockchain community voted to shut down the network and suspend support for the VEGA token due to the project's low popularity.
The network will continue to operate at least until October 27 to provide users time to withdraw their funds.#Blockchain #protocol #swift #Tokenization $USDC #MarketSentimentToday
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💸 Swift conducts “live” settlement tests with digital assets: The payment platform is working on a new transaction execution system with digital assets and currencies, with the aim of launching it in 2025.
📈 Metaplanet now trades BTC options: The well-known Japanese MicroStrategy carried out operations with 223 option contracts, leaving them with a profit of 23.97 BTC.
🏦 Bukele is about to close an agreement with the IMF: The finance minister of El Salvador assured that the country is about to finalize a loan with the IMF. Meanwhile, Bukele assured that the agreement does not contemplate an increase or creation of new taxes.
📉 XRP returns to a historical resistance zone: In response to the SEC's appeal on Ripple, XRP fell more than 10% in 24 hours, returning to the USD 0.50 zone.
#Bitcoin #swift #SEC #XRP #MarketSentimentToday $BTC $XRP
📈 Metaplanet now trades BTC options: The well-known Japanese MicroStrategy carried out operations with 223 option contracts, leaving them with a profit of 23.97 BTC.
🏦 Bukele is about to close an agreement with the IMF: The finance minister of El Salvador assured that the country is about to finalize a loan with the IMF. Meanwhile, Bukele assured that the agreement does not contemplate an increase or creation of new taxes.
📉 XRP returns to a historical resistance zone: In response to the SEC's appeal on Ripple, XRP fell more than 10% in 24 hours, returning to the USD 0.50 zone.
#Bitcoin #swift #SEC #XRP #MarketSentimentToday $BTC $XRP
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SEC Approves NYSE Debut of BTC ETF Options
Traders Believe Approval of Options on Bitcoin Exchange-Traded Funds Will Inject Much-Needed Liquidity into Markets
Top Crypto News of the Week: Ripple Offers Digital Custody, Justin Sun Leads Micronation Liberland, SWIFT Opens Up to Digital Future, and More
What were the most popular crypto news stories of this week? Let's take a detailed look at what happened so we don't miss anything. What happened to bitcoin, blockchain, and the crypto ecosystem over the past seven days?
XRP could face volatility as market awaits “concrete results,” analyst says
A cryptocurrency analyst opined that the price of XRP will “likely fluctuate between $0.50 and $0.80” for the remainder of 2024, with a strong emphasis on regulatory developments
#XRP #BTC #swift #SEC #analisis $BTC $XRP
Traders Believe Approval of Options on Bitcoin Exchange-Traded Funds Will Inject Much-Needed Liquidity into Markets
Top Crypto News of the Week: Ripple Offers Digital Custody, Justin Sun Leads Micronation Liberland, SWIFT Opens Up to Digital Future, and More
What were the most popular crypto news stories of this week? Let's take a detailed look at what happened so we don't miss anything. What happened to bitcoin, blockchain, and the crypto ecosystem over the past seven days?
XRP could face volatility as market awaits “concrete results,” analyst says
A cryptocurrency analyst opined that the price of XRP will “likely fluctuate between $0.50 and $0.80” for the remainder of 2024, with a strong emphasis on regulatory developments
#XRP #BTC #swift #SEC #analisis $BTC $XRP
Banks in North America, Europe, and Asia will join SWIFT's new digital asset trials in 2025. These trials will test how different #digitalcurrencies and assets can work together.
The first focus will be on payments, currency exchange, and trade.
#banks #swift #cryptonews #TrendingTopic
The first focus will be on payments, currency exchange, and trade.
#banks #swift #cryptonews #TrendingTopic
BREAKING NEWS 🚀 Swift is taking a giant leap into the future!
The global payment giant just announced plans to integrate digital assets and currencies into its network, bridging the worlds of traditional finance and blockchain technology. This marks a MASSIVE step towards mainstream crypto adoption! 🏦💥
Imagine the potential—instant, secure, and borderless payments powered by Swift’s network and the revolutionary speed of blockchain. The financial world will never be the same again. Get ready for the new era! 🔥
#cryptoadoption #BinanceLaunchpoolHMSTR #swift #BinanceLaunchpoolCATI #Write2Earn!
Imagine the potential—instant, secure, and borderless payments powered by Swift’s network and the revolutionary speed of blockchain. The financial world will never be the same again. Get ready for the new era! 🔥
#cryptoadoption #BinanceLaunchpoolHMSTR #swift #BinanceLaunchpoolCATI #Write2Earn!
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Why can XRP be worth $100+? 😉
It's quite simple if you look at this question broadly. 😶🌫️
The company Ripple initially issued the XRP token for cross-border payments.
Through XRP, they attracted capital to the Ripple company, which is essentially what led to the lengthy lawsuit with the SEC.
At this moment, one can consider the case closed, as it will not affect the further development of XRP.
The main argument for supporting XRP is the fact that the SWIFT system has proven to be an unreliable international system for using cross-border capital in the global market. A striking example is the political decisions regarding the freezing and confiscation of Russian assets by Western countries.
For global politics, this is a signal that the SWIFT system is also a political tool. XRP was created as an alternative to the SWIFT system.
SWIFT processes transactions averaging over 150 trillion a year.
If XRP can attract at least 10% of the total volume of SWIFT, we will already see a three-digit price.
My forecast for the first quarter of 2025: XRP will reach a price between $5 and $9.
#XRP #SWIFT #Politics #Trump #warning! #Tothemoon #100$ $XRP
It's quite simple if you look at this question broadly. 😶🌫️
The company Ripple initially issued the XRP token for cross-border payments.
Through XRP, they attracted capital to the Ripple company, which is essentially what led to the lengthy lawsuit with the SEC.
At this moment, one can consider the case closed, as it will not affect the further development of XRP.
The main argument for supporting XRP is the fact that the SWIFT system has proven to be an unreliable international system for using cross-border capital in the global market. A striking example is the political decisions regarding the freezing and confiscation of Russian assets by Western countries.
For global politics, this is a signal that the SWIFT system is also a political tool. XRP was created as an alternative to the SWIFT system.
SWIFT processes transactions averaging over 150 trillion a year.
If XRP can attract at least 10% of the total volume of SWIFT, we will already see a three-digit price.
My forecast for the first quarter of 2025: XRP will reach a price between $5 and $9.
#XRP #SWIFT #Politics #Trump #warning! #Tothemoon #100$ $XRP
If XRP Replaces SWIFT, the Price Could Reach $10,000, Analyst Says
In a recent proposal by Edward Farina, the Head of Social Adoption at #XRPUpdate Healthcare, a hypothetical scenario was presented whereby the price of XRP has the potential to see a significant increase, reaching a value of $10,000. The individual's forecast is founded around the potential for the token to function as an intermediary currency, facilitating transactions, and the potential for RippleNet to supplant SWIFT (Society for Worldwide Interbank Financial Telecommunication) inside the international cross-border payment networks.
Is it possible for the price of XRP to reach $10,000?
Farina's analysis delves into the fundamental concepts behind market dynamics. The author presents a counterargument to prevailing misunderstandings around the possible expansion of cryptocurrencies. There appears to be a lack of comprehension among a limited number of individuals regarding the fundamental concept of supply and demand. Observing individuals expressing astonishment upon encountering assertions on the potential for XRP to attain a value of $10,000, Farina made a noteworthy observation, although refraining from asserting the inevitability of such an outcome.
The author highlights the significance of the global financial sector's yearly movement of hundreds of billions of dollars, suggesting that even a minor market share may result in a substantial increase in its overall value. Farina further expounds upon the existing functionalities of the SWIFT system, which exhibits the capacity to process a substantial volume of transactions per hour. Additionally, the prospective ramifications of RippleNet potentially supplanting SWIFT are discussed.
One prevalent issue with the general perception of XRP's capacity for exponential growth is the prevailing belief that it is incapable of attaining a substantial market capitalization. The individuals in question are neglecting to acknowledge the fact that Financial Institutions facilitate the movement of vast sums of money, amounting to hundreds of billions of dollars on a global scale. According to the speaker, if XRP is able to get a small portion of the mentioned market, it would propel XRP to heights that have never been seen before.
This underscores the significant and unexplored market potential that XRP might potentially access. Nevertheless, Farina's analysis lacks precise numerical data and fails to elucidate the specific amount of money required to drive the cryptocurrency's value to $10,000.
In addition to this, Farina emphasizes the perceived technological advantage of XRP, namely in relation to transaction speed and finality. XRP demonstrates the ability to promptly settle value, often within an average duration of 3 seconds, while ensuring the irrevocability of transactions. Bitcoin (BTC), Ethereum (ETH), and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) are incapable of performing the aforementioned task. The author confidently argues in favor of the tokens' efficiency and dependability compared to currently available solutions.
Can Ripple potentially serve as a replacement for SWIFT?
The discourse surrounding the potential for XRP to attain a price in the four- or five-digit range, contingent upon Ripple's complete replacement of SWIFT or a partial displacement, has persisted for a considerable duration, nearly as long as the inception of the coin. The unearthing of a five-year-old comment made by Ripple CTO David Schwartz was recently brought to light by influencer Crypto Eri.
Schwartz delineated the existence of a positive link between the price of an asset and its level of liquidity. The individual observed that there is a positive correlation between greater pricing and more liquidity, resulting in more affordable payments. This is because as the value of tokens rises, they become a more feasible way for conducting extensive financial transactions. This concept is closely related to Farina's conceptualization of cryptocurrencies as a disruptive force in contemporary financial institutions.
Grayscale has just affirmed the potential of XRP to rival SWIFT. According to the company's most recent research titled "Currencies Crypto Sector," it is said that XRP has the position of the second largest asset, behind Bitcoin. XRP is developed as a viable substitute for #swift , with the primary objective of providing expeditious cross-border payment solutions at reduced transaction expenses compared to its industry counterparts.
#ripple
Is it possible for the price of XRP to reach $10,000?
Farina's analysis delves into the fundamental concepts behind market dynamics. The author presents a counterargument to prevailing misunderstandings around the possible expansion of cryptocurrencies. There appears to be a lack of comprehension among a limited number of individuals regarding the fundamental concept of supply and demand. Observing individuals expressing astonishment upon encountering assertions on the potential for XRP to attain a value of $10,000, Farina made a noteworthy observation, although refraining from asserting the inevitability of such an outcome.
The author highlights the significance of the global financial sector's yearly movement of hundreds of billions of dollars, suggesting that even a minor market share may result in a substantial increase in its overall value. Farina further expounds upon the existing functionalities of the SWIFT system, which exhibits the capacity to process a substantial volume of transactions per hour. Additionally, the prospective ramifications of RippleNet potentially supplanting SWIFT are discussed.
One prevalent issue with the general perception of XRP's capacity for exponential growth is the prevailing belief that it is incapable of attaining a substantial market capitalization. The individuals in question are neglecting to acknowledge the fact that Financial Institutions facilitate the movement of vast sums of money, amounting to hundreds of billions of dollars on a global scale. According to the speaker, if XRP is able to get a small portion of the mentioned market, it would propel XRP to heights that have never been seen before.
This underscores the significant and unexplored market potential that XRP might potentially access. Nevertheless, Farina's analysis lacks precise numerical data and fails to elucidate the specific amount of money required to drive the cryptocurrency's value to $10,000.
In addition to this, Farina emphasizes the perceived technological advantage of XRP, namely in relation to transaction speed and finality. XRP demonstrates the ability to promptly settle value, often within an average duration of 3 seconds, while ensuring the irrevocability of transactions. Bitcoin (BTC), Ethereum (ETH), and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) are incapable of performing the aforementioned task. The author confidently argues in favor of the tokens' efficiency and dependability compared to currently available solutions.
Can Ripple potentially serve as a replacement for SWIFT?
The discourse surrounding the potential for XRP to attain a price in the four- or five-digit range, contingent upon Ripple's complete replacement of SWIFT or a partial displacement, has persisted for a considerable duration, nearly as long as the inception of the coin. The unearthing of a five-year-old comment made by Ripple CTO David Schwartz was recently brought to light by influencer Crypto Eri.
Schwartz delineated the existence of a positive link between the price of an asset and its level of liquidity. The individual observed that there is a positive correlation between greater pricing and more liquidity, resulting in more affordable payments. This is because as the value of tokens rises, they become a more feasible way for conducting extensive financial transactions. This concept is closely related to Farina's conceptualization of cryptocurrencies as a disruptive force in contemporary financial institutions.
Grayscale has just affirmed the potential of XRP to rival SWIFT. According to the company's most recent research titled "Currencies Crypto Sector," it is said that XRP has the position of the second largest asset, behind Bitcoin. XRP is developed as a viable substitute for #swift , with the primary objective of providing expeditious cross-border payment solutions at reduced transaction expenses compared to its industry counterparts.
#ripple
If #XRP 's market capitalization reaches $1 trillion, each XRP would be valued at approximately $17.86, based on a circulating supply of about 55.96 billion tokens.
The launch of #RLUSD , Ripple's USD-pegged stablecoin, aims to enhance Ripple's payment ecosystem by providing a stable medium for transactions, potentially increasing XRP's utility and adoption.
If #Ripple 's technology were to replace #SWIFT and handle 90% of global transactions, some analysts speculate that XRP's value could rise significantly, with estimates reaching as high as $10,000 per token.
The launch of #RLUSD , Ripple's USD-pegged stablecoin, aims to enhance Ripple's payment ecosystem by providing a stable medium for transactions, potentially increasing XRP's utility and adoption.
If #Ripple 's technology were to replace #SWIFT and handle 90% of global transactions, some analysts speculate that XRP's value could rise significantly, with estimates reaching as high as $10,000 per token.
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Swift aims to integrate fiat money with tokenized assets
The global financial messaging network is studying solutions to make its infrastructure work with tokenized assets.
The company said that the multiplicity of platforms and technologies creates a complex environment.
Swift is a system used by 11,000 financial institutions and more than 200 countries.
The global financial messaging system Swift aims to consolidate the bridge between traditional finance and the digital asset ecosystem. The company announced that it is studying ways to integrate fiat money with tokenized assets.
The company's proposal is based on using its network to facilitate interoperability between fiat currencies and tokenized assets. These solutions, which would connect digital assets and currencies with its existing infrastructure, would enable its members (banks and financial institutions) to access the use of these tokenized assets for payments, securities transactions, trade, among others. For its part, Swift is carrying out tests to implement simultaneous transaction settlement mechanisms. This includes trials on delivery-versus-payment (DvP) systems, where securities are only delivered when funds are received, and payment-versus-payment (PvP), which allows simultaneous exchanges in different currencies.
DvP ensures that the exchange of securities (stocks, bonds, etc.) and payment occur in sync, while PvP ensures that two payments are made at the same time in different currencies. Thus, Swift intends for its infrastructure to enable these mechanisms with fiat money and tokenized assets, such as central bank digital currencies (CBDC) or regulated stablecoins. Swift maintains that there are still some problems
The company said it wants to solve a problem that institutional investors are facing.
#StableCoin #CBDC #swift #Tokenization $USDC #MarketSentimentToday
The global financial messaging network is studying solutions to make its infrastructure work with tokenized assets.
The company said that the multiplicity of platforms and technologies creates a complex environment.
Swift is a system used by 11,000 financial institutions and more than 200 countries.
The global financial messaging system Swift aims to consolidate the bridge between traditional finance and the digital asset ecosystem. The company announced that it is studying ways to integrate fiat money with tokenized assets.
The company's proposal is based on using its network to facilitate interoperability between fiat currencies and tokenized assets. These solutions, which would connect digital assets and currencies with its existing infrastructure, would enable its members (banks and financial institutions) to access the use of these tokenized assets for payments, securities transactions, trade, among others. For its part, Swift is carrying out tests to implement simultaneous transaction settlement mechanisms. This includes trials on delivery-versus-payment (DvP) systems, where securities are only delivered when funds are received, and payment-versus-payment (PvP), which allows simultaneous exchanges in different currencies.
DvP ensures that the exchange of securities (stocks, bonds, etc.) and payment occur in sync, while PvP ensures that two payments are made at the same time in different currencies. Thus, Swift intends for its infrastructure to enable these mechanisms with fiat money and tokenized assets, such as central bank digital currencies (CBDC) or regulated stablecoins. Swift maintains that there are still some problems
The company said it wants to solve a problem that institutional investors are facing.
#StableCoin #CBDC #swift #Tokenization $USDC #MarketSentimentToday
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Binance founder remains a public figure for the exchange
In any case, CZ warns his followers on X to be alert to this type of video. In the interaction with this post by the businessman, some followers commented that care must be taken after the Binance Blockchain Week (BBW). In that activity, many founders would approach to take photos with Zhao to promote scams.
It should be noted that Zhao stated in a separate post that he will participate in the BBW that will take place on October 30 and 31 in Dubai. Thus, the crypto entrepreneur seems determined to stay very close to Binance despite his commitment to distance himself from the company. In the message he clarified that his participation is in a personal capacity and not from another perspective.
I will attend Binance Blockchain Week in Dubai on October 30 and 31, in a personal capacity. It is one of the most important Web3 events of the year. See you there," he wrote. In any case, this participation marks the return of the founder of Binance to the public scene. Even if you intend to attend in a personal capacity, you will inevitably attract all the attention of participants and media.
Returning to the topic of deepfakes, as already mentioned, this is a threat that is not limited to the world of cryptocurrencies. Recently, fake videos of the star Taylor Swift became known. The latter also warned about the great risks of AI to create problems. Images of the singer were used to promote US politicians.
#EEUU #Cz #Binance #swift #inteligenciaartificial @CZ
In any case, CZ warns his followers on X to be alert to this type of video. In the interaction with this post by the businessman, some followers commented that care must be taken after the Binance Blockchain Week (BBW). In that activity, many founders would approach to take photos with Zhao to promote scams.
It should be noted that Zhao stated in a separate post that he will participate in the BBW that will take place on October 30 and 31 in Dubai. Thus, the crypto entrepreneur seems determined to stay very close to Binance despite his commitment to distance himself from the company. In the message he clarified that his participation is in a personal capacity and not from another perspective.
I will attend Binance Blockchain Week in Dubai on October 30 and 31, in a personal capacity. It is one of the most important Web3 events of the year. See you there," he wrote. In any case, this participation marks the return of the founder of Binance to the public scene. Even if you intend to attend in a personal capacity, you will inevitably attract all the attention of participants and media.
Returning to the topic of deepfakes, as already mentioned, this is a threat that is not limited to the world of cryptocurrencies. Recently, fake videos of the star Taylor Swift became known. The latter also warned about the great risks of AI to create problems. Images of the singer were used to promote US politicians.
#EEUU #Cz #Binance #swift #inteligenciaartificial @CZ
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Mt. Gox moves $2.2 billion in Bitcoin, increasing selling pressure
More than $9.4 billion in Bitcoin was owed to approximately 127,000 Mt. Gox creditors for over 10 years
Calm before the storm: Bitcoin volatility stagnates
After reaching a three-month high last week, Bitcoin volatility has stagnated
Report: OpenAI is in talks with regulators to become a for-profit company
OpenAI faces challenges in its transition to a for-profit corporation due to conflicts with its mission and intellectual property
Swift, UBS, and Chainlink test the settlement of tokenized funds
Swift, UBS, and Chainlink seek to modernize traditional finance by enhancing the processes of tokenized funds with blockchain
TruBit and Reap join forces to strengthen cross-border payments and support nearshoring in Mexico
TruBit and Reap drive economic growth with a strategic alliance that optimizes cross-border payments and supports nearshoring in Mexico
#Blockchain #swift #OpenAI #Bitcoin #chainlink $BTC $LINK
More than $9.4 billion in Bitcoin was owed to approximately 127,000 Mt. Gox creditors for over 10 years
Calm before the storm: Bitcoin volatility stagnates
After reaching a three-month high last week, Bitcoin volatility has stagnated
Report: OpenAI is in talks with regulators to become a for-profit company
OpenAI faces challenges in its transition to a for-profit corporation due to conflicts with its mission and intellectual property
Swift, UBS, and Chainlink test the settlement of tokenized funds
Swift, UBS, and Chainlink seek to modernize traditional finance by enhancing the processes of tokenized funds with blockchain
TruBit and Reap join forces to strengthen cross-border payments and support nearshoring in Mexico
TruBit and Reap drive economic growth with a strategic alliance that optimizes cross-border payments and supports nearshoring in Mexico
#Blockchain #swift #OpenAI #Bitcoin #chainlink $BTC $LINK
⚠️ US Banks and Mastercard Lead the Way in Tokenized Asset Settlements🚨🚨🚨
📌 In a move towards smoother cross-border transactions, Mastercard has teamed up with major US banks, including JPMorgan and Citibank, to test a Regulated Settlement Network (RSN) powered by distributed ledger technology.
🚀🚀 The RSN proof-of-concept will focus on settling tokenized assets such as commercial bank money, central bank money, and securities like US treasuries. By leveraging shared ledgers, the aim is to enhance the efficiency of multi-asset settlements denominated in US dollars.
🔥This initiative builds on Mastercard's previous project, which explored tokenized US dollar transfers. Joining the trial are notable players like Visa, Swift, TD Bank N.A., U.S. Bank, USDF, and Wells Fargo.
🏦 The Federal Reserve Bank of New York will be closely observing this experiment, recognizing the potential of distributed ledger infrastructure for regulated financial transfers.
👉 As the world embraces real-world asset tokenization, even skeptics like JPMorgan's Jamie Dimon acknowledge that blockchain is the "real deal." BlackRock's recent foray into tokenized assets with its BUIDL fund further underscores this trend.
👉 Debopama Sen from Citi Services highlights the broader implications of tokenization, emphasizing the need for more versatile platforms for financial settlements. With this RSN launch, Citi eagerly joins the exploration of these opportunities.
Follow for more.❤️
Thanks
#Mastercard #swift #JPMorganChase #realmabbaskhan #BTC走势分析
📌 In a move towards smoother cross-border transactions, Mastercard has teamed up with major US banks, including JPMorgan and Citibank, to test a Regulated Settlement Network (RSN) powered by distributed ledger technology.
🚀🚀 The RSN proof-of-concept will focus on settling tokenized assets such as commercial bank money, central bank money, and securities like US treasuries. By leveraging shared ledgers, the aim is to enhance the efficiency of multi-asset settlements denominated in US dollars.
🔥This initiative builds on Mastercard's previous project, which explored tokenized US dollar transfers. Joining the trial are notable players like Visa, Swift, TD Bank N.A., U.S. Bank, USDF, and Wells Fargo.
🏦 The Federal Reserve Bank of New York will be closely observing this experiment, recognizing the potential of distributed ledger infrastructure for regulated financial transfers.
👉 As the world embraces real-world asset tokenization, even skeptics like JPMorgan's Jamie Dimon acknowledge that blockchain is the "real deal." BlackRock's recent foray into tokenized assets with its BUIDL fund further underscores this trend.
👉 Debopama Sen from Citi Services highlights the broader implications of tokenization, emphasizing the need for more versatile platforms for financial settlements. With this RSN launch, Citi eagerly joins the exploration of these opportunities.
Follow for more.❤️
Thanks
#Mastercard #swift #JPMorganChase #realmabbaskhan #BTC走势分析
Trust Wallet announced the public beta launch of Trust Wallet SWIFT, a new smart contract wallet powered by account abstraction.
🔐SWIFT aims to simplify the Web3 experience for users by features like gas fee abstraction, one-click transactions, and biometric-protected passkeys. It launches supporting 7 EVM chains with plans to add more.
🗓️The beta rollout begins on February 19, 2024 with full availability by February 26, 2024.
#TrustWallet #swift #web3 #Write2Earn #EVM
🔐SWIFT aims to simplify the Web3 experience for users by features like gas fee abstraction, one-click transactions, and biometric-protected passkeys. It launches supporting 7 EVM chains with plans to add more.
🗓️The beta rollout begins on February 19, 2024 with full availability by February 26, 2024.
#TrustWallet #swift #web3 #Write2Earn #EVM
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🔥$300M liquidated from Evergrande - Crypto market fall?🤷
We bring you the latest news from the Crypto and financial market globally.
BRICS: Chinese real estate company will liquidate $300 billion in assets.
A Hong Kong court on Monday ordered Evergrande, the largest real estate developer in BRICS member China, to liquidate $300 billion in assets. The real estate giant #Evergrande was unable to offer a concrete restructuring plan and became the most indebted real estate developer in the world. Evergrande did not present restructuring plans despite months of delays in several court hearings.
However, Judge Linda Chan ordered the liquidation of more than $300 billion in liabilities after observing Evergrande's failures in restructuring plans. “It is time for the court to say enough is enough,” Judge Chan said during her final judicial verdict.
Evergrande's commercial operations will now make it more difficult to focus on its revival. "It is not the end but the beginning of the protracted liquidation process, which will make Evergrande's daily operations even more difficult," said Gary Ng, senior economist at Natixis.
Read also: The expansion of #BRICS is a threat to the #swift payment system and the US dollar
"As most of Evergrande's assets are in mainland China, there are uncertainties about how creditors can seize the assets and the payment range of offshore bondholders, and the situation may be even worse for shareholders," he said. to Reuters.
BRICS country China's economy is not in good shape in 2024 as major business giants face bankruptcy. The Chinese yuan, along with the economy, is going downhill and growth remains stagnant for three years.
This puts the BRICS in a situation where China was leading de-dollarization efforts around the world.
We will see if it affects the #Criptomonedas market this week.
Source: WatcherGuru
We bring you the latest news from the Crypto and financial market globally.
BRICS: Chinese real estate company will liquidate $300 billion in assets.
A Hong Kong court on Monday ordered Evergrande, the largest real estate developer in BRICS member China, to liquidate $300 billion in assets. The real estate giant #Evergrande was unable to offer a concrete restructuring plan and became the most indebted real estate developer in the world. Evergrande did not present restructuring plans despite months of delays in several court hearings.
However, Judge Linda Chan ordered the liquidation of more than $300 billion in liabilities after observing Evergrande's failures in restructuring plans. “It is time for the court to say enough is enough,” Judge Chan said during her final judicial verdict.
Evergrande's commercial operations will now make it more difficult to focus on its revival. "It is not the end but the beginning of the protracted liquidation process, which will make Evergrande's daily operations even more difficult," said Gary Ng, senior economist at Natixis.
Read also: The expansion of #BRICS is a threat to the #swift payment system and the US dollar
"As most of Evergrande's assets are in mainland China, there are uncertainties about how creditors can seize the assets and the payment range of offshore bondholders, and the situation may be even worse for shareholders," he said. to Reuters.
BRICS country China's economy is not in good shape in 2024 as major business giants face bankruptcy. The Chinese yuan, along with the economy, is going downhill and growth remains stagnant for three years.
This puts the BRICS in a situation where China was leading de-dollarization efforts around the world.
We will see if it affects the #Criptomonedas market this week.
Source: WatcherGuru
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Swift Launches New Global Infrastructure to Facilitate Transfer of Tokenized Assets
Renowned payments infrastructure platform Swift has unveiled a new initiative that seeks to revolutionize the exchange of tokenized assets globally. In an effort to address interoperability issues affecting different technologies and regulations, Swift has developed a global infrastructure that will enable the seamless transfer of these assets, integrating both traditional and emerging financial systems. This move is part of a broader strategy by Swift to streamline global transactions, including traditional assets such as securities and new forms of digital assets such as cryptocurrencies. The platform will test delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions across multiple ledgers, allowing buyers of securities and tokenized assets to transact in real-time within the Swift network.
Interoperability as a cornerstone
One of the main challenges of the tokenized asset industry is the lack of an interoperable framework that enables the connection between different distributed ledger systems (DLT). Often, efforts around real-world assets (RWA), such as tokenized real estate or securities, are fragmented into what have been called “digital islands.” This is largely due to the lack of a globally accepted form of digital money that facilitates interoperability across networks and jurisdictions.
Tom Zschach, Chief Innovation Officer at Swift, emphasized in a statement that: “Digital currencies and tokens have enormous potential to transform the way we all pay and invest in the future. #CBDC #Tokenization #swift #USDC $USDC #MarketSentimentToday
Renowned payments infrastructure platform Swift has unveiled a new initiative that seeks to revolutionize the exchange of tokenized assets globally. In an effort to address interoperability issues affecting different technologies and regulations, Swift has developed a global infrastructure that will enable the seamless transfer of these assets, integrating both traditional and emerging financial systems. This move is part of a broader strategy by Swift to streamline global transactions, including traditional assets such as securities and new forms of digital assets such as cryptocurrencies. The platform will test delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions across multiple ledgers, allowing buyers of securities and tokenized assets to transact in real-time within the Swift network.
Interoperability as a cornerstone
One of the main challenges of the tokenized asset industry is the lack of an interoperable framework that enables the connection between different distributed ledger systems (DLT). Often, efforts around real-world assets (RWA), such as tokenized real estate or securities, are fragmented into what have been called “digital islands.” This is largely due to the lack of a globally accepted form of digital money that facilitates interoperability across networks and jurisdictions.
Tom Zschach, Chief Innovation Officer at Swift, emphasized in a statement that: “Digital currencies and tokens have enormous potential to transform the way we all pay and invest in the future. #CBDC #Tokenization #swift #USDC $USDC #MarketSentimentToday
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SWIFT prepares for digital currencies
SWIFT, the global payments system, will explore transactions with digital assets, seeking to improve the efficiency and security of the traditional financial system.
#swift #DigitalFinance #BecomeCreator #activos #activosdigitales
SWIFT, the global payments system, will explore transactions with digital assets, seeking to improve the efficiency and security of the traditional financial system.
#swift #DigitalFinance #BecomeCreator #activos #activosdigitales
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The dedollarization... is it in danger?
📝 The financial bulletin Kobeissi Letter reports a 9% increase in the use of the dollar through the interbank SWIFT network. It's the largest rise in 12 years.
📊 However, some internet users questioned these claims, as transactions made in other national currencies are not recorded in the chart. Therefore, it is impossible to estimate if such disparity exists.
🔁 The IMF itself has stated that, while the dollar remains the quintessential reserve currency, it has been losing ground to other national currencies.
👉 Full information here 👈
#FMI #swift #dolar #BecomeCreator #MarketDownturn
📝 The financial bulletin Kobeissi Letter reports a 9% increase in the use of the dollar through the interbank SWIFT network. It's the largest rise in 12 years.
📊 However, some internet users questioned these claims, as transactions made in other national currencies are not recorded in the chart. Therefore, it is impossible to estimate if such disparity exists.
🔁 The IMF itself has stated that, while the dollar remains the quintessential reserve currency, it has been losing ground to other national currencies.
👉 Full information here 👈
#FMI #swift #dolar #BecomeCreator #MarketDownturn