Goldilocks’ Comments and Global Economic News for September 05, 2023
Good morning Dinar Recaps,
“The G20 has tasked the Financial Stability Board with coordinating the creation of an effective regulatory, supervisory, and oversight framework for crypto-assets.”
Yesterday, we found out that this had to be done by September the 7th just 2 days before the G20 meeting.
The nations of the G20 make up about 80 percent of the global economic output and consist of around 60 percent of the world’s population.
These digital asset regulations will serve as monetary policies for the new digital economy going forward.
© Goldilocks
https://www.businesstoday.in/crypto/story/fsbs-views-on-crypto-asset-regulation-circulated-prior-to-g20-summit-396763-2023-09-04
https://www.cfr.org/backgrounder/what-does-g20-do
WOW! Something Big Is Coming Silver Price – Mike Maloney
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“Deutsche Bank, Germany’s largest bank, is reportedly engaged in early stage talks with digital investment and broker platform Scalable Capital over a potential investment or partnership deal, according to German business media outlet Handelsblatt.”
Remember, Deutsche Bank reaches into every Bank around the world.
Scalable Capital is a leading digital investment platform in Europe.
This fintech partnership will enable them to work towards helping Banks digitize their services and serve those within these Banks by helping them reach their financial goals.
© Goldilocks
https://www.fintechfutures.com/2023/09/deutsche-bank-reportedly-makes-contact-with-digital-investment-fintech-scalable-capital/
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“Swift transfers tokenized assets between blockchains”
Swift has conducted a series of experiments utilizing several Banks to scale tokenized assets across existing Financial structures.
It has been found to be a success in moving money across several different digital networks.
“In publishing the results, Swift recognized the potential to remove significant friction slowing the growth of tokenized asset markets and enable them to scale globally as they mature.”
© Goldilocks
https://www.fintechfutures.com/2023/09/swift-can-facilitate-tokenised-asset-transfers-between-different-blockchains-new-experiments-confirm/
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UPDATE 4-US expects to upgrade Vietnam ties, risks China’s anger
https://finance.yahoo.com/news/1-us-expects-upgrade-vietnam-023538628.html
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Foreign Exchange Decreases By $ 30 Million; Details Inside
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The Reserve Bank of India (RBI), the country’s central bank, announced on Aug. 30 that India’s digital currency (CBDC); The digital rupee will have greater ease of use. This is due to Yes Bank’s integration with the Unified Payments Interface (UPI) in RBI’s digital rupees app. Now Ja bank account holders can transact with the digital rupee by scanning UPI QR codes.
UPI is a national payment gateway operated by National Payments Corporation of India (NPCI), a division of RBI. The NPCI provides the infrastructure for both the UPI and the digital rupee. According to local reports, UPI is used by 150 million merchants in India, according to local media reports.
https://nationworldnews.com/thanks-to-yes-banks-integration-with-upi-the-digital-rupee-is-getting-a-big-boost/
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The US Payment Landscape: The Path to Digital
As we enter this period of unprecedented disruption in the marketplace, the importance of expediting the journey from paper to digital transactions for payers and receivers is becoming increasingly clear; payments are faster, more streamlined and feature enhanced capabilities around validation, security, and risk mitigation.
https://www.finance-monthly.com/2020/07/the-us-payment-landscape-the-path-to-digital/
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While USDC provides crypto traders with a convenient dollar-pegged asset, it doesn’t come without risks.
Maintaining the 1:1 dollar peg relies heavily on stability mechanisms and collateral reserves. Lapses in either could lead to loss of confidence and mass redemptions.
Moving forward, enhancing transparency and communication with users will be key for USDC to demonstrate its stability and retain trust. Yet despite best efforts, black swan events mean no stablecoin is ever 100% immune to volatility.
https://btcpeers.com/usdc-stablecoin-risks-of-breaks-in-dollar-peg-and-collateralization/
“We are pleased to be the first US bank in Canada to offer both C2B Request for Pay and B2C payment flows through this digital solution,” said Leslie Konecny, head of Product for Global Transaction Services (GTS), Canada at Bank of America. “This is a milestone for Bank of America in Canada, as we continue to meet the evolving digital needs of our multinational clients, providing them with enhanced speed, flexibility, and transparency to manage their payment and receipt flows.”
As you can see from today’s articles, countries are beginning to interface their digital payment systems inside Banking systems, Market sectors, and their customers. Tokenized assets are becoming more and more available to the general public.
As these new monetary policies come into play, the testing of new capital requirements for banks, and the integration of tokenized assets into the digital economy this month, it is expected that we will see disruptions of service that will affect each sector of the market in the implementation process.
Movement into real values going forward will test us all. Just know we are in this together.
© Goldilocks
https://ibsintelligence.com/ibsi-news/bank-of-america-launches-global-digital-disbursements-solution-in-canada/
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Oil reforms are still in process. We need to see these completed along with gold and silver repricing events.
This will allow us to move forward inside a new digitized economy based on assets that support our tokenized assets going forward.
© Goldilocks
Bozeman Daily Chronicle Link
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Saudi Arabia Digital Transaction Management Market Big Profits on the Horizon as Market Size Continues to Grow
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U.S. factory orders plunge in July…a moment of reckoning is coming.
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The London Stock Exchange Group has announced plans to launch a new digital markets business that will enable faster, cheaper, and more secure transactions by leveraging blockchain technology. This new platform will not be enabling the trading of cryptocurrencies – rather it will likely be tokenizing assets like stocks and bonds to allow ownership to be transferred on blockchain rails. This is yet another example of a bigger-picture trend of real-world asset tokenization that has been playing out over the course of the year.
https://decrypt.co/154852/london-stock-exchange-group-plans-blockchain-powered-digital-markets-business
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