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Swift could integrate with mBridge CBDC cross border payment system? šŸ¤”

During a panel at the SIBOS banking event today, Mu Changchun said that the mBridge cross border CBDC payment system could connect to traditional payments systems, including real time gross settlement systems (RTGS) and faster payment systems. ā€œWe are looking forward to possible cooperation with Swift in the future,ā€ said Mr Mu, who leads the Digital Currency Institute of the People’s Bank of China.

mBridge uses distributed ledger technology (DLT) and wholesale central bank digital currency (wCBDC) to enable direct cross border payments, without using Swift or correspondent banks. Participants include the central banks of China, Hong Kong, Saudi Arabia, Thailand and the UAE, as well as the BIS Innovation Hub and numerous commercial banks. The initiative reached the minimum viable product (MVP) stage in June. By removing correspondent banks as intermediaries, payments are faster and cheaper.

Today it was revealed that mBridge is also being used for FX payment versus payment (PvP).

The possible connection between Swift and mBridge is noteworthy given that mBridge is a potential Swift competitor. SIBOS is Swift’s annual event, so Swift deserves credit for providing a public platform for mBridge. A collaboration between the two could be mutually beneficial. For Swift, its future role might evolve into being an integrator, as its recent CBDC interoperability and DLT trials have demonstrated. From mBridge’s perspective, it could expand the payment options available.

Former People’s Bank of China (PBoC)
Governor, Zhou Xiaochuan, also spoke at SIBOS, noting that some view China’s CIPS and mBridge as substitutes for Visa and Swift, but this is not his view. However, he expressed a hope that Swift could have ā€˜better’ governance noting that Swift’s governance was apolitical until the 9/11 attacks.

ā— mBridge and the dollar

While mBridge has been touted as promoting local currency usage, Governor Zhou said he believes that mBridge will have little impact on dollar usage. ā€œIn my mind, I think mBridge does not exclude the use of the dollar, yet,ā€ he said.

However, he believes the dollar’s status as reserve currency is up to the U.S. government. ā€œIf the U.S. government would like to use the U.S. dollar as a sanction tool, it may reduce the feasibility of other countries to use the U.S. dollar,ā€ he said. He added that liquidity, particularly the availability of currency swaps, is also important for a reserve currency.

ā— mBridge’s application sweet spots

PBoC Deputy Governor Lu Lei spoke about some of the mBridge applications. One is the usage of mBridge for FX payment versus payment (PvP) settlement.

The BIS and CPMI have frequently highlighted the ongoing risks in foreign exchange (FX) settlement. CLS, the FX central counterparty, only provides settlement in 18 currencies. Every day trillions of dollars in FX transactions are subject to settlement risks. The exposure in Hong Kong and Singapore is larger than the entire capital of all commercial banks combined. Hence, the use of mBridge could address some of these risks by enabling instant atomic settlement of the currencies exchanged using PvP.

Governor Lu also highlighted that banks currently poorly serves remittances and cross border ecommerce transactions. They have small values, are complex, have high KYC costs and limited profitability, which is why fees are so high. mBridge could help to address these issues.

Li Shu Pui of the Central Bank of the UAE sees three opportunity areas for mBridge. First, are the ones already mentioned for transaction banking – the combination of fast cross border payments and FX PvP settlement. Secondly, he noted the trend of connecting domestic payment systems internationally and cross border card transactions. Currently, for the settlement between banks these often use deferred settlement, whereas mBridge could help with instant settlement. Thirdly, tokenization and the market for tokenized assets will expand. Hence, mBridge could be used to settle cross border transactions in the future.

Mr Li gave an update on mBridge’s progress. He said there have been a few hundred transactions so far, representing the equivalent of a few billion dollars. His UAE colleagues estimated that last month’s transactions increased by around 35%.

ā— Progressing mBridge’s technology

Turning to technology, the mBridge ledger is decentralized, with central banks and commercial banks operating their own nodes, databases, and key paris. According to PBoC’s Mr Mu, who leads the technical sub committee, each bank has autonomy over its own system. Central banks participate in the blockchain consensus, but commercial banks do not.

One challenge encountered is unstable network conditions. The consensus mechanism was upgraded this year to help, increasing the efficiency by 30%. Mr Mu said this involved weak certificates (we may have misheard and hope to clarify).

On the privacy front, currently mBridge relies on a randomly generated method for pseudonymous identifiers. However, they are working on a zero knowledge proof solution (ZKP), which should hide (rather than obfuscate) information. The target is to launch this in 2025.

While part of the system is based on Ethereum, some of the technology was developed in China, including the novel consensus mechanism. The BIS is in the process of hiring vendors for third party code reviews and open source assessments. The aim is to fully open source the code in the future, but for now all the central banks have access to the source code.

ā— Implementation challenges to so far

Meanwhile, Alisara Mahasandana from the Bank of Thailand outlined a few challenges encountered by the commercial banks during the early pilot phase.

Banks have to pre-fund mBridge payments, whereas traditionally they relied on correspondent banks for this. Plus the banks need to manage the liquidity of both fiat currency and the CBDC.

In terms of FX, there is no wholesale FX market for CBDC. So banks have to do the trade in fiat currency and then use it for the conversion of CBDC.

Regarding regulation, the banks had to introduce additional processes to adhere to the AML and CFTC requirements for each counterparty jurisdiction.

https://www.ledgerinsights.com/swift-could-integrate-with-mbridge-cbdc-cross-border-payment-system/

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September 07, 2025
Utility, Utility, Utility

🚨Robinhood CEO - Vlad Tenev says: ā€œIt’s time to move beyond Bitcoin and meme coins into real-world assets!ā€

For up to date cryptocurrencies available through Robinhood:
https://robinhood.com/us/en/support/articles/coin-availability/

00:00:24
September 06, 2025
3 Companies Control 80% Of U.S. BankingšŸ‘€

3 companies. 80% of U.S. banking. You need to know their names.

Watch us break it down in the latest Stronghold 101

00:03:58
September 06, 2025
We Have Been Lied To, For Far To Long!

Impossible Ancient Knowledge That DEBUNKS Our History!

Give them a follow:

Jays info:
@TheProjectUnity on X
youtube.com/c/ProjectUnity

Geoffrey Drumms info:
@TheLandOfChem on X
www.youtube.com/@thelandofchem

00:18:36
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading
Pyth Network DAO

Beyond revenue, the Phase 2 proposal asks for the DAO to consider whether and how the network can deliver value back to the community.

This new product could fuel the DAO, and the DAO should consider whether it wants to support buybacks, rewards, and strengthening the network for all stakeholders.

Looking ahead to Phase 3: Total market coverage.

→ 200–300 new symbols added each month
→ 3K+ by year-end, 10K+ in 2026
→ Complete coverage across: trading venues, OTC markets, permissioned & unpermissioned DeFi

Pyth will become the most comprehensive financial data layer in the world.

https://x.com/PythNetwork/status/1963255788698484942

🚨BREAKING: Ledger CTO Charles Guillemet warns of a supply chain attack in the JavaScript ecosystem after an NPM account compromise.

He advises users to carefully verify every transaction if using a hardware wallet, and to avoid on-chain transactions entirely if they don’t.

Stay safe.

https://x.com/CoinDesk/status/1965110299456847944

$ETH ETF outflow of $96,700,000 šŸ”“ yesterday.

BlackRock sold $192,700,000 in Ethereum.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain areĀ Eternl,Ā Typhon,Ā Vespr,Ā Yoroi,Ā Lace,Ā ADAlite,Ā NuFi,Ā Daedalus,Ā Gero,Ā LodeWallet,Ā Coin Wallet,Ā ADAWallet,Ā Atomic,Ā Gem Wallet,Ā TrustĀ andĀ Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention toĀ Non-CustodialĀ andĀ CompatibilityĀ fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
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šŸ”— Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Ā 

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