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Governments See CBDCs Making Their Countries 'More Economically and Financially Efficient' — Venom Foundation CEO
August 29, 2023
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According to Christopher Louis Tsu, the CEO of Venom Foundation, governments that are seeking to introduce central bank digital currencies (CBDCs) are not being driven by the fear that privately issued digital currencies may soon become the preferred method for cross-border and micropayments. Instead, some countries view CBDCs as a technology that could make their countries “more economically and financially efficient” and this ultimately improves their competitiveness.

Regulated Digital Assets ‘a Requirement for Mass Adoption’

While stablecoins issued by private entities such as Tether are increasingly seen as the go-to digital currencies when moving funds across borders, Tsu told Bitcoin.com News that CBDCs may turn out to be a better option because they are underpinned by regulation. According to the CEO of Venom Foundation — a platform that aims to create a bridge between traditional finance and the Web3 world — such an attribute can be a key “requirement for mass adoption and harmonization of markets and economies.”

When asked about claims that CBDCs could be used by governments to exercise greater control over people’s financial lives, Tsu insisted that the issue is not necessarily about the technology but those in control of it. To support his argument, Tsu pointed to Paypal, a privately owned entity that recently announced the launch of its own stablecoin — the PYUSD.

The CEO said Paypal can unilaterally freeze or pause the transfer of PYSUD if this is in line with its fiduciary and legal responsibilities. He suggested that the same argument can also be applied to central banks when it comes to their ability to censor CBDC transactions.

Meanwhile, in other answers to questions sent to him via Telegram, Tsu also offered his thoughts on how governments can use CBDCs to lower the cost of sending remittances. He further offered his views on what he sees as challenges that could hinder the adoption of CBDCs. Below are all of the Venom Foundation CEO’s written answers to questions sent.

Bitcoin.com News (BCN): Why do governments and central banks around the world feel the need to introduce CBDCs? Is it driven by the fear of crypto becoming the go-to mode of cross-border payments and micropayments?

Christopher Louis Tsu (CLT): It is not fear of crypto that is driving this massive interest in CBDCs. Sovereign nations see a far greater opportunity to access new digital asset classes, be more economically and financially efficient and ultimately raise the competitiveness of their country.

This is game theory in full swing, no country wants to miss the boat. The smart money already played their hand. There are hundreds of billions of dollars of tokenization projects already live. What’s a token? There are non-fungible tokens, NFTs, which could represent a financial product like a bond or fungible tokens which is a unit of value that can represent a dollar or a euro. CBDCs are a subset of this bigger opportunity and I believe governments want in, this can be analogous to the last time when fibre optics were being laid down, the digital currency or the CBDC is the final crucial component.

BCN: Why would users — both institutional and retail — want to adopt CBDCs when they already have stablecoins to serve this purpose?

CLT: As we are not yet in this scenario, I can only assume how this future will unfold. For centuries we have had private money issued by individuals and companies which went into steep decline as central banks were formed and more so since the Modern Monetary Theory (MMT) garnered more support. Nevertheless, this trend is going in reverse with the advent of the internet and blockchain technology progressively private money has come back into circulation.

My definition of private money is not exclusively stablecoins like USDT which alone has risen from nothing to about $150 billion in a few years. Let’s take the JP Morgan coin used by its clients to settle transactions since 2019. It has already handled $300 billion worth of transactions. There are multiple commodity stablecoins backed by various precious metals. Tokens both fungible and non-fungible are daily being created to represent value that touches all different parts of our economy.

Many of these instruments are ahead of regulation and thus self-regulating. As CBDCs roll out at both retail and wholesale levels, they will not be in isolation but underpinned by regulation and this is a requirement for mass adoption and harmonization of markets and economies.

BCN: It seems cross-border payments are still complicated and expensive. When you send money to someone in another country, it goes through a complex web of interlinkages between banks. The fees for this could go as high as 6.5%, which may be a lot for the poor immigrants sending remittances to their loved ones back home. Do you foresee CBDCs getting this right?

CLT: Things have already improved dramatically compared to 6.5%. My Kenyan colleagues used to send money across the country in a bus, back in the day the amount that was skimmed off the top was erratic and occasionally the envelope never even arrived!

Can CBDCs improve? Yes, they can, but this is only a part of the picture. Technology and the private industry are moving far quicker than governments can deploy CBDCs. There are an array of different types of cryptocurrencies, stablecoins and institutional tokens already on the market. The delivery mechanism to retail is via a ‘wallet’ and already we see the green shoots of a multitude of blockchain use cases, for example, aid.technology is currently delivering humanitarian aid through a digital wallet.

By the time governments start to deploy CBDCs, there will be wallets with proven applications such as remittances, lending and borrowing protocols battle-tested for the retail market. The CBDCs will play a critical role in mass adoption because they will have government backing and hence acceptance in every aspect of everyday life.

BCN: According to reports, Venom is working with the relevant authorities in Kenya, Bangladesh, and a few other countries to increase financial inclusion. Micropayments are at the heart of financial inclusion. Can you talk about how Venom is using blockchain to bring financial services to the underserved?

CLT: Venom’s vision is to leverage its highly scalable technology to bring blockchain into many emerging markets including Kenya and Bangladesh. In tandem with regulation from the Abu Dhabi Global Markets (ADGM), we are seeing a smooth acceptance thus far.

Micropayments are at the heart of helping people. It can touch the lives of millions who do not even have the basics like a bank account. Through a digital wallet, small farmers who need a $10 loan for fertilizer, a refugee who wants to send $0.50 to a family member peer-to-peer, or an entrepreneur housewife working from home performing part-time remote administration services can invoice cross-border a dollar-a-day; all done with minimum transaction costs.

At the same time, this low-income category currently has virtually no option to save for the future. Once a digital wallet is in their hands, the option to ‘stake’ and earn interest on savings will become highly attractive. Especially since very small sums of money can be invested into “staking” again with little friction.

BCN: While CBDCs may offer certain benefits, many fear that they will give governments greater control over people’s financial lives and transactions. To illustrate, the Brazilian central bank recently published the CBDC pilot project on its Github profile and it is said that developers have since discovered that the central bank has the ability to freeze users’ accounts, decrease target balances, confiscate, and mint new units of the digital currency. Do you think such red flags could hurt the adoption of CBDCs?

CLT: For decades, global financial systems have had AML/KYT/KYC monitoring systems and if a transaction breaches a rule or demonstrates suspicious activity, the institution has a fiduciary and legal responsibility to act. It is not the technology that is invasive, it is the policymakers and they will differ from one country to another.

All the above actions you enumerate are already possible. For example, “minting new units” has been a common practice since the 1970s by central banks. They call it quantitative easing.

These are design decisions. The following example is not a government but a private company Paypal that issued a stablecoin, PYUSD. Paypal can freeze an address, i.e. an account. They can pause all transfers and mint more tokens whenever they want.

Just like anything, give a man a hammer and he can build a house or hit someone over the head.

BCN: What are wholesale and retail CBDCs and why is there a need for two different sets of CBDCs?

CLT: For the sake of clarity when I talk about CBDCs I’m also referring to digital currency, which could be a stablecoin either private, institutional or sovereign.

Wholesale is for corporate and retail is for individuals.

The difference between the two are policies. In wholesale the rules are far more complex, with multiple asset classes, vast account limits, stringent risk management, and more detailed regulation, with bigger sums of money; settlement and clearing are points of pain. For many years, companies have been using blockchain DLT to develop solutions to solve some of these issues. However, I personally see we have reached a tipping point.

It is a major advantage for a CBDC design if the technology supports account abstraction as in the Venom blockchain. Put simply, it means rules such as wholesale risk management can be natively programmed into the account.

BCN: In your opinion, what are the biggest roadblocks to large-scale adoption of CBDCs?

CLT: Wealthy economies do not need digital currencies as much as developing economies, so if we slice the world in two, I would say governments and central banks in rich countries do not have the same incentives as developing countries. Developing countries view the shift to blockchain in a holistic way, it is not a currency in isolation, it is a regime of transparency, access to capital markets, improved supply chain, and tokenization of their raw assets. So I think we will see a slow lane and a fast lane in the near future.

Regulation has to be resolved for large-scale adoption and it is not any regulator trying to throw a spanner in the works. It is just a highly complex system that has to be coordinated on a global basis. Trying to harmonize different countries and regions is a time-consuming task.

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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.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

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

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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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

~Namasté 🙏 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 memothat 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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