Liquidity
Bitcoin. Bitcoin’s nascent DeFi scene is getting a lot of excitement, with proponents saying that it will ultimately unlock more than $1 trillion in idle capital that currently does nothing more than act as a store of value. Analytics Insight.
Bitcoin. Bitcoin’s price trajectory has reached new heights, nearly hitting the $100,000 mark post-election, and sparking discussions on its unique role in the financial ecosystem. MSN.
Defi. Mpeppe. Gambling and decentralized finance project Mpeppe is releasing 25% of the tokens it owes to investors through a new claim portal, according to Nov. 26 reports from token holders. MSN.
Liquidity. Cross-border payments. Cross-border payments are the backbone of international trade, global remittances, and financial connectivity. Yet, traditional systems often face challenges like high transaction fees, delays, and inefficiencies caused by intermediary banks and multiple currency conversions.
The introduction of liquidity pools is transforming this landscape, offering cost reductions and ensuring instant payments. Here’s how this innovative approach is reshaping the future of cross-border transactions. FinExtra.
Liquidity. Ripple. Ripple will invest $5 million in tokens from Abrdn’s Lux fund. This is part of a larger investment strategy by Ripple to support the tokenization of real-world assets on the XRP Ledger. CryptoNews.
Foreign exchange
Russia. Foreign exchange. Russia’s Central Bank will refrain from purchasing foreign currency on the domestic market from November 28 through the end of 2024. According to the bank’s press release, this decision was made “to reduce financial market volatility” and is being implemented “in alignment with the Russian Finance Ministry’s regular operations” under fiscal tightening measures. Meduza.
Russia. Tokenization. Both Russia and other countries are demonstrating a growing interest in the tokenisation of conventional assets as a separate type of digital investment. The conversion of physical assets into digital tokens expands their potential: it increases their liquidity and makes them more accessible to a wide range of investors. In its report, the Bank of Russia analyses global and Russian trends in the tokenisation of real world assets and proposes to discuss the specifics and prospects of such a phenomenon. Central Bank of Russia.
Foreign exchange rates, per Reuters as of 10:01 pm EST
AUD/USD=0.6505
EUR/USD=1.0557
GBP/USD=1.2671
USD/JPY=151.35
10-year bond yields, per Reuters as of 10:05 pm EST
Australia=4.381%
Germany=2.167%
Italy=3.402%
United Kingdom=4.287%
Japan=1.059%
Alton Drew
27 November 2024
For a legal analysis of the foreign exchange environment, reach out to me at altondrew@altondrew.com.
Lawyers Write the Bets. Bankers Sell the Bets. 