EddieJayonCrypto
21 Feb 23
• As India and Singapore link for faster, cheaper cross-border transactions; SWIFT is in the crosshairs• The Financial Stability Board (FSB) says cross-border payment shortcomings have led to the slow boom of crypto adoption• Zipmex rescue deal nears closing and could bring withdrawals back to the e...
• As India and Singapore link for faster, cheaper cross-border transactions; SWIFT is in the crosshairs• The Financial Stability Board (FSB) says cross-border payment shortcomings have led to the slow boom of crypto adoption• Zipmex rescue deal nears closing and could bring withdrawals back to the embattled exchange• FTX Japan has also resumed crypto and fiat withdrawals• With DOGE stagnant and Solana on a tear, Solana could flip DOGE and land itself in the top 10 cryptosI took a few days off to relax and recharge. I think crypto moving sideways was doing the same. Here is what is on my mind today.1. Look out SWIFT! Here comes the first of what could be many state-level link-ups with India and Singapore. linking their local real-time payment systems. You already have banks getting together to process cross-border and even DeFi transactions. There is definitely more to come in this space. Outside of the United States, I am expecting Ripple to see benefit from CBDC growth. 2. The Financial Stability Board (FSB) says cross-border payment shortcomings have led to the slow boom of crypto adoption. I would toss in the poor reaction from regulators to new technologies and practices have also caught them flatfooted. The banking industry, including credit cards are scrambling to find their place in the new world. I suspect we will continue seeing maneuvering as adopting continues to grow and that will lead to less reliance on traditional finance. Kraken CEO, 3. Zipmex, who has been in trouble since at least last year with Thailand investigating the company, may have reached a deal to rescue the company. As a result, they may allow withdrawals following the close of the deal. Creditors have must fill out form today if they want to take part in that withdrawal process and finalize withdrawals by March 21st. 4. In another big move by an exchange, FTX Japan has resumed crypto an fiat withdrawals. This is significant as I am paying attention to anything involved in the FTX debacle and what ventures come out of it, stabilize and continue operations. 5. It looks like Solana is poised to hop over Dogecoin as it continues to rise over news that Helium has set a date for their merge. This has helped Solana to rise double-digits. The significance of the merge means Helium can focus on growing its hotspots versus growing a blockchain network at the same time. With a $2B gap between them, I think it will be at least a little bit longer. That said, Solana is on the rise and Dogecoin has been stagnant for the most part and barely moves even when the great Elon teases something about it.