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đŸ’„Banks Are Future Access Points for Crypto Market, Execs SayđŸ’„
More regulatory clarity is needed before financial institutions jump fully into the segment, according to Digital Asset Summit panelists
October 19, 2022
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Banks have come around on crypto during the last year, Fidelity Digital Asset Management Head Chris Tyrer said, adding that the institutions are “the future access points” for the market.

Tyrer and other executives noted, during a Tuesday panel at Blockworks’ Digital Asset Summit in London, that despite a growing demand for crypto among institutions’ clients, more regulatory clarity is needed before most banks jump fully into the segment.

Conversations have shifted in the last 12 months from blockchain and distributed ledger technology to the metaverse, Web3 and creator economies, Tyrer said. 

“People have sort of realized what this technology enables, where it’s going and what the future state is and are much clearer about the direction of travel to get there,” he added. “I think that, in and of itself, has sort of solidified the investment thesis
and there’s been a groundswell of demand coming through the banks from their traditional client bases as well.”

TradFi and crypto merging

BNY Mellon revealed last week that some of its institutional customers would be able to hold and transfer bitcoin and ether on its new crypto custody platform, which is available in the US. More recently, Mastercard unveiled on Monday an upcoming program that is set to help banks and financial tech companies gain access to buy, hold and sell certain cryptoassets. 

Roughly two-thirds of respondents of Mastercard’s 2022 New Payments Index — published in June — reported a preference for their current financial institution to offer crypto-related services.

Alexey Demyanov, a managing director at Bank of America, said during the panel that people often want to further the relationship with a bank they trust rather than moving business elsewhere.

“As much as the whole idea is to remove trust in a central party or trust in an intermediary, it is efficient, convenient and safe to add a next relationship
with the same institution,” he said. 

Panelists noted that the worlds of traditional finance and disruptive blockchain technology are set to inevitably meet and become interwoven over time. 

Following the collapse of Three Arrows Capital and others earlier this year, Previn Singh, head of Credit Suisse’s Distributed Ledger Technology Centre of Competency, said capital liquidity buffers, for example, might have come in handy for some of those players.  

“I think there’s this slightly cartoonish picture painted in regards to competition where it’s TradFi versus DeFi and never the two shall meet,” Singh said. “I’m really starting to think that will never be the case — there’s the best of both worlds that you can use.”

Regulation will be key

Executives on the panel noted that while venture-capital-funded financial tech companies, for example, might be able to take more risks by moving into a mostly unregulated space, the bar for banks and large asset managers is much higher.

European lawmakers last week voted in favor of the Markets in Crypto Assets bill (MiCA) that is slated to introduce provisions on supervision, consumer protection and environmental safeguards for cryptoassets. The laws are set to come into effect in 2024.

Meanwhile, the US is still working on how best to regulate the space. President Biden signed an executive order in March tasking government agencies with weighing the risks and potential for digital assets. The White House published a crypto framework last month that calls for further study around issues such as central bank digital currencies (CBDCs), DeFi and NFTs. 

“Until there is regulation, I think many of the big banks will probably not touch it, but there are other areas around this space that we can definitely be looking at and that we are looking at,” Rita Martins, head of fintech partnerships at HSBC, said during the panel.

London-based financial services titan HSBC acquired virtual real estate in The Sandbox earlier this year as part of a larger partnership with the metaverse to engage with sports, esports and gaming fans. 

“It’s almost like we moved from the technology side to more around the experiments and what are the new experiments that we could give to the customers within this space,” Martins said.   

Moves by BNY Mellon, Mastercard bullish for space

Despite regulation still needing to be sorted out, BNY Mellon and Mastercard’s latest announcements signal that large institutions are getting prepared to delve deeper into the crypto space.

Serhii Zhdanov, CEO of crypto exchange EXMO, called Mastercard’s upcoming program a “logical move,” adding that the payments giant understands that crypto could outgrow its existing industry. 

“As both Mastercard and Visa have been working with crypto for years now, their processes are already in place and have been sufficiently tested,” Zhdanov told Blockworks in an email. “For the banks, it’s a no-brainer if Mastercard says, ‘We take compliance issues.’ I expect crypto will be a part of every bank’s product line soon.”

Crypto was until recently viewed as “antagonistic” for the traditional banking and payments industries, according to Hugo Feiler, CEO of blockchain protocol Minima. 

“Now, integrating them with mainstream payment mechanisms will make it easier for those holding crypto to utilize it and break down the barriers between the crypto and TradFi systems,” he said.

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

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- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

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🎬Proof the Deep State Planned This War for Years🎬
Nation First outlines how the Israeli attack on Iran was planned by the Deep State and the Military Industrial Complex over 15 years ago.

Prepare to have your mind blown

~NamastĂ© 🙏 Crypto Michael ⚡ The Dinarian

Dear friend,

What just happened in Iran wasn’t a surprise attack. It wasn’t a last-minute decision. It wasn’t even Israel acting alone.

It was a war plan written years ago — by men in suits, sitting in think tanks in Washington and New York. And yesterday, that plan was finally put into action.

Here’s the truth they don’t want you to know: this war was cooked up long before Trump ever became President — and it was designed to happen exactly this way.

Let’s start with what just happened.

Israel launched a massive, unexpected strike on Iran. They hit nuclear facilities. They killed military generals. They struck deep inside Iranian territory — and now the whole region is on edge, ready to explode into full-blown war.

The media is acting shocked. But I’m not. You shouldn’t be either.

Why?

Because we have the documents. They told us this was coming. Years ago.

Exhibit A: The Brookings Institution.

The Brooking Institution is a fancy name for what’s basically a war-planning factory dressed up as a research centre. Back in 2009, Brookings published a report called Which Path to Persia?

It laid out exactly how to get the U.S. into a war with Iran — without looking like the bad guy.

Here’s the sickest part:

“The United States would encourage — and perhaps even assist — the Israelis in conducting the strikes
 in the expectation that both international criticism and Iranian retaliation would be deflected away from the United States and onto Israel.”

Let that sink in.

They literally suggested using Israel to start the war, so America could stand back and say, “Wasn’t us!”

They even titled a chapter of this report: “Leave It to Bibi” — naming Netanyahu as the guy to light the match.

Exhibit B: The Council on Foreign Relations (CFR).

The Council on Foreign Relations is an another Deep State operation. Also in 2009, CFR published a “contingency memo” that laid out the whole military plan for an Israeli strike on Iran — step by step.

  • What routes the jets would fly (over Jordan and Iraq).

  • What bombs they’d use (the biggest bunker-busters in the U.S. arsenal).

  • Which Iranian sites to hit (Natanz, Arak, Esfahan).

  • And how Iran might respond (missiles, drones, threats to U.S. bases).

It’s like they had a time machine. Because those exact strikes just happened following the routes, likely using the bombs and hitting the sites that the CFR outlined.

Exhibit C: The Plot to Attack Iran by Dan Kovalik.

This one really blows the lid off.

US human rights lawyer and journalist Dan Kovalik, in his book The Plot to Attack Iran: How the CIA and the Deep State Have Conspired to Vilify Iran, shows how the CIA and Israel’s Mossad have been working together for decades — not just watching Iran, but actively sabotaging it. Killing scientists. Running cyberattacks. Feeding lies to the media to make Iran look like it’s always “six months away” from building a nuke.

He even reveals how they discussed false flag attacks — faking an Iranian strike to justify going to war. That’s not a conspiracy theory. That’s documented strategy.

And here’s where President Trump comes in.

Unlike the warmongers who wrote these plans, Trump wasn’t looking to bomb Iran. He wanted to talk. Negotiate. Make a deal — like he did with North Korea.

In fact, peace talks with Iran were just days away.

But someone didn’t want peace. Someone wanted war.

So Israel went in — just like the Brookings script said — and lit the fuse.

Trump didn’t authorise it. He didn’t want it. But they gazumped him. They went around him. And now, the peace he was trying to build has been blown to bits.

This was never about Iran being a threat. It was about keeping the war machine fed.

Think tanks, defence contractors, foreign lobbies — they don’t profit from peace. They thrive on tension. On fear. On war.

And now, thanks to them, the world’s one step closer to the edge.

If you’ve never trusted the mainstream media, you’re right not to.

If you’ve ever suspected there’s a shadowy agenda behind every war, you’re not paranoid.

You’re paying attention.

Because the documents are real. The war was planned. And the bombs are falling — right on schedule.

Pray for Iran’s civilians.

Pray for the Israelis caught in the crossfire.

Pray for a President who still wants peace.

And pray that we wake up before it’s too late.

Because the war has started.

But the truth has just begun to spread.

Until next time, God bless you, your family and nation.

Take care,

George Christensen

Source:

George Christensen is a former Australian politician, a Christian, freedom lover, conservative, blogger, podcaster, journalist and theologian. He has been feted by the Epoch Times as a “champion of human rights” and his writings have been praised by Infowars’ Alex Jones as “excellent and informative”.

George believes Nation First will be an essential part of the ongoing fight for freedom:

“The time is now for every proud patriot to step to the fore and fight for our freedom, sovereignty and way of life. Information is a key tool in any battle and the Nation First newsletter will be a valuable tool in the battle for the future of the West.”

— George Christensen.

Find more about George at his www.georgechristensen.com.au website.

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The Possible Impact Of USDC On The XRP Ledger And RLUSD
Key Points
  • It seems likely that USDC on the XRP Ledger (XRPL) boosts liquidity, benefiting XRP, though some see it as competition for RLUSD.
  • Research suggests both stablecoins can coexist, enhancing the XRPL ecosystem.
  • The evidence leans toward increased network activity being good for XRP, despite potential competition.

The recent launch of USDC on the XRP Ledger has sparked discussions about its impact on the ecosystem, particularly in relation to RLUSD, Ripple's own stablecoin. This response explores whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Impact on Liquidity and XRP

The introduction of USDC, a major stablecoin with a $61 billion market cap, likely increases liquidity on the XRPL by attracting more users, developers, and institutions. This boost can enhance DeFi applications and enterprise payments, potentially driving demand for XRP, the native token used for transaction fees. While some may view it as competition for RLUSD, the overall effect seems positive for the XRPL's growth.
 

Competition vs. Coexistence with RLUSD

USDC and RLUSD cater to different needs: USDC appeals to those valuing regulatory compliance, while RLUSD, backed by Ripple, may attract users preferring ecosystem integration. Research suggests both can coexist, increasing options and fostering innovation, rather than purely competing.
 

Detailed Analysis of USDC on XRPL and Its Implications

The integration of USDC on the XRP Ledger (XRPL), announced on June 12, 2025, by Circle, has significant implications for the ecosystem, particularly in relation to RLUSD, Ripple's stablecoin launched in 2024. This section provides a comprehensive analysis, exploring whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Understanding RLUSD and Its Role

RLUSD, Ripple's stablecoin, received approval from the New York Department of Financial Services (NYDFS) in 2024 and is designed to be fully backed by cash and cash equivalents, ensuring stability. It is available on both the Ethereum and XRP Ledger blockchains, aiming to enhance liquidity, reduce volatility, and serve cross-border payments. With a current market cap of $413 million, RLUSD is smaller than USDC's $61 billion but has regulatory credibility, particularly appealing to institutions.
 

Impact of USDC on the XRPL

The launch of USDC on the XRPL is a significant development, given its status as the second-largest stablecoin by market cap.
 
Key impacts include:
  • Liquidity Boost: USDC's integration can attract more users, developers, and institutions, increasing overall liquidity. This is crucial for DeFi applications, as Circle's announcement emphasizes its use in liquidity provisioning for token pairs and FX flows.
  • Increased Utility: USDC enhances the XRPL's utility for enterprise payments, financial infrastructure, and DeFi, potentially making it more attractive for global money movement and transparent settlements.
  • Regulatory and Institutional Appeal: As a regulated stablecoin issued by Circle, USDC can bring institutional users to the XRPL, aligning with Ripple's goals for regulated financial activities.
  • Network Growth: Supporting a widely recognized stablecoin like USDC on 22 blockchains, including the XRPL, increases the network's visibility and adoption, potentially driving more activity.

Competition vs. Complementarity with RLUSD

While USDC's launch could be seen as competition for RLUSD, the evidence suggests a more nuanced relationship:
  • Competition: Both are stablecoins on the XRPL, and USDC's larger market presence ($61 billion vs. RLUSD's $413 million) might attract users and developers away from RLUSD. However, competition can drive innovation, such as lower fees or better services, benefiting the ecosystem
  • Complementarity: Different stablecoins cater to different needs. USDC appeals to users valuing regulatory compliance and widespread adoption across multiple blockchains, while RLUSD, backed by Ripple, may attract those preferring ecosystem integration and regulatory approval from NYDFS. The XRPL can benefit from having multiple options, increasing liquidity and fostering a diverse ecosystem.
  • Coexistence Benefits: Research suggests that having multiple stablecoins enhances liquidity and provides users with more choices, potentially leading to higher network activity. For example, institutions might use USDC for global payments and RLUSD for specific XRPL-integrated applications, creating a symbiotic relationships.

Impact on XRP

The introduction of USDC, alongside RLUSD, is likely beneficial for XRP, the native token of the XRPL, for several reasons:
  • Increased Liquidity and Activity: Higher liquidity on the XRPL, driven by both stablecoins, can increase transaction volumes. XRP is used for transaction fees, with some fees burned, potentially reducing supply over time and increasing demand.
  • DeFi and Enterprise Use Cases: Both USDC and RLUSD enhance DeFi and enterprise applications, such as liquidity pools and cross-border payments, which can drive demand for XRP as a settlement token.
  • Network Growth: A more liquid and active XRPL is more attractive to developers and users, potentially leading to long-term growth for XRP, as increased utility can drive its value.
Expert analyses, such as those from u.today and ledgerinsights.com, suggest the launch is a "massive boost" for liquidity and adoption, with RLUSD also playing a significant role.
 

Comparative Analysis: USDC vs. RLUSD

To further illustrate, consider the following table comparing key attributes:
 
Given the evidence, it is more accurate to view the introduction of USDC on the XRPL as beneficial for liquidity, which is ultimately good for XRP, rather than solely as competition for RLUSD. The XRPL benefits from increased options, with both stablecoins enhancing liquidity, utility, and network growth. While some competition exists, the overall impact is positive, fostering a robust ecosystem that can drive demand for XRP. This conclusion aligns with expert analyses and community discussions, acknowledging the complexity of the stablecoin market within the XRPL.
 

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