Goldilocks' Comments and Global Economic News Saturday Evening 2-10-24

Good Evening Dinar Recaps,

"OSL, a Hong Kong-licensed digital asset platform, has successfully executed the first transaction of a tokenized warrant issued by UBS in Hong Kong."

Tokenized Warrants interface Traditional Finance and Blockchain Technology transactions. The transaction took place on the Ethereum Blockchain.

Ethereum is a peer-to-peer transaction network allowing digital monetary transactions to talk to one another (through codes) executing payments without the intermediary function of a centralized system.

UBS tokenize is a part of the Swiss Bank's tokenization service utilizing the Distributed Ledger Technological System to tokenize bonds, funds, and other structured products.  Yahoo Finance

© Goldilocks

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Banking Announcement:

"Hong Kong Proposes Regulatory Framework for OTC Crypto Venues. Firms providing "spot trade of any virtual assets for money" such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise."

Hong Kong is moving from their pilot phase of testing through a sandbox of several virtual assets from around the world to proposing regulations on these virtual assets they used to examine use case scenarios for payments.

These over-the-counter virtual assets will begin their movement onto the QFS through a broker-dealer relationship until they are nationalized further into this process.

This proposed regulatory framework will impact providers of services enrolled in the benefits of CMS programs. A Content Management System helps companies manage digital content, and it's purpose is to eliminate fraud moving through their networks.

After a period of comments through this proposed regulation, Hong Kong will move on to their final regulations. The Final Regulations will implement the new virtual asset regulations for Hong Kong.

© Goldilocks
RegulationAsia
News HK

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Statement on Approval of FINRA Proposed Rules to Establish Post-Trade Transparency in the Treasury Markets | SEC

Today, the Commission approved a rule change proposed by the Financial Industry Regulatory Authority (FINRA) to provide for the first time public dissemination of U.S. Treasury transactions on a trade-by-trade basis.

Post-trade transparency promotes liquidity and helps investors. There is something about that sunshine. It gives everyone a sense of where the current market is. The public gets to see details of the last trade that two counterparties just negotiated in that market.

The FINRA rule approved today brings greater post-trade transparency to those shopping for or selling Treasury securities.
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Look for Global Regulations on Stablecoins to begin populating during Protocol 20 (Global Network Integration) as it expands after the vote on February the 20th to move forward. You can't have one without the other.

One is a payment system that will pay for the Tokenized Assets being populated. It will begin the process of synchronizing the banking system with our markets Globally.

© Goldilocks

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Global Payment Orchestration Platform Market Review 2018-2023 And Forecast To 2028: Surge In Cross-Border Transactions Fuelling Market Growth | MENAFN

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Local currencies dominate Russia-China trade – Putin aide — RT Business News

Russia and China have brought the share of mutual trade settlements in the national currencies to 90%, Yury Ushakov, a senior foreign policy aide to Russian President Vladimir Putin, said on Thursday following a phone call between Putin and his Chinese counterpart Xi Jinping.

The official added that during the call the two leaders emphasized the importance of creating a reliable joint financial infrastructure.

"It has been stated that over 90% of settlements between our countries are carried out in rubles and yuan," Ushakov told journalists after the conversation between Putin and Xi. 

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NSE’s consolidated Q3 operating revenue up by 25% YoY at Rs.3,517 crores | NewsroomPost

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Broadridge's DLT repo platform transacts $1 trillion a month. Just getting started | Ledger Insights - blockchain for enterprise
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Bitrue Introduces Tether Gold and Euro Tether to its Platform | BlockchainReporter

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Silver the New Gold in the East, then West | YouTube  

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Digging into the Future: The Role of Precious Metals and Sustainable Industry Practices | Nasdaq

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Treasury secretary won't say whether dept surveils Americans' purchases: 'Concerning' | The National Desk

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Which Banks are using Quantum Financial System?

"No bank uses the Quantum Financial System at the moment. However, it might be worth noting that large banks like JPMorgan (JPM) and Goldman Sachs (GS) are piloting the use of quantum computers for advanced financial models."   Jan 10, 2024

As we discussed about 2 years ago, JP Morgan was the lead Bank assigned to take our Banking System into Decentralized Finance through Web 3 applications.

We are approaching some of the final developmental stages of this new digital asset-based trading system. Currently, we are in the pilot phase of this development, and Protocol 20 will begin to populate Financial Networks around the world inside this new QFS this month.   CoinCodex

© Goldilocks.  

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Cryptodollar Minting Protocol M^0 Will Allow Institutions to Issue Stablecoins Backed by U.S. Treasuries | CoinDesk

M^0 white paper has set rules to allow crypto institutions to mint and issue fully decentralized and fungible stablecoins backed by U.S. Treasury bills.

The team is backed by Pantera and led by stablecoin pioneers from MakerDAO and Circle.

The M^0 protocol aims to recreate the $5 trillion-$20 trillion offshore dollar market for the digital age.

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