Industry Trend - The industry believes a positive future requires private money [1] - The industry observes a shift from private money (cash) to publicly traceable digital money [2] - The industry considers this shift "absolutely insane" [3] Market Opportunity - The industry emphasizes the existence of free markets [4] - The industry suggests using market participation to influence the future [4]

Summary of the Conference Call on Stablecoins in Asia-Pacific Industry Overview - The report focuses on the evolving landscape of stablecoins in the Asia-Pacific region, particularly in light of the GENIUS Act passed in July 2025 and recent stablecoin IPOs in the US [1][2] - Many Asia-Pacific countries are considering the introduction of local currency stablecoins, but the regulatory framework is still in development [1][2] Key Insights - **Regulatory Landscape**: The regulatory environment for stablecoins is rapidly evolving, with countries like Singapore, Australia, and Japan already having frameworks in place for stablecoin issuance [11][20] - **Adoption Potential**: Korea, Singapore, and Hong Kong are identified as having the highest potential for stablecoin adoption due to their familiarity with crypto and high cashless payment rates [3][10] - **Market Size**: The USD-denominated stablecoin market cap is approximately $300 billion, while Asia currency-based stablecoin market cap is only around $49 million, indicating significant room for growth [9] Opportunities and Challenges - **Cross-Border Payments**: Stablecoins present a natural opportunity for cross-border payments, with potential transaction cost reductions of 60-80% compared to traditional systems [29] - **Corporate Interest**: Corporates are beginning to shift their focus towards stablecoins, with some already signing agreements for stablecoin transactions [2][40] - **Financial Institutions' Response**: Local banks are becoming increasingly aware of the risks posed by stablecoins, particularly regarding FX commissions and trade finance earnings [40] Regulatory Developments - **Australia**: The RBA is exploring the role of stablecoins through Project Acadia, focusing on the development of a Central Bank Digital Currency (CBDC) [17] - **Korea**: The Bank of Korea emphasizes the need for traditional banks to lead stablecoin initiatives to ensure monetary policy efficacy [17] - **Hong Kong**: The Stablecoins Ordinance requires a license for stablecoin issuance, with 36 applications received by the HKMA as of September 2025 [17] - **China**: The PBOC maintains a cautious stance towards stablecoins, focusing on the promotion of the digital yuan instead [18] Market Dynamics - **Demographics**: Countries with a higher share of younger populations and foreign workers are expected to drive demand for stablecoins, particularly for cross-border remittances [10][11] - **Technological Adoption**: Advanced digitization in Asia, characterized by a young population of "digital natives," supports higher adoption rates for stablecoins [6] Financial Institutions' Initiatives - Financial institutions are adapting to the changing landscape by exploring partnerships and developing blockchain-based solutions for stablecoin transactions [63] - Examples include POSCO International's collaboration with JPMorgan Kinexys for a blockchain-based global payment system and Mitsubishi Corporation's plans to use JPY-pegged stablecoin for internal payments [45] Conclusion - The stablecoin ecosystem in Asia-Pacific is still in its early stages, but the potential for growth is significant as regulatory frameworks develop and corporates begin to adopt these digital currencies [1][2][9]

Core Insights - HSBC is set to expand its tokenized deposit services to corporate clients in the U.S. and UAE starting next year, building on existing services in Hong Kong, Singapore, the UK, and Luxembourg [2][4] - The tokenized deposit service allows clients to transfer money instantly, both locally and internationally, enhancing liquidity and settlement efficiency for corporate treasuries [2][6] - The rise of tokenized deposits aligns with increasing demand for real-time liquidity and 24/7 settlement systems in cross-border commerce, which is currently hindered by lengthy settlement times and fees [6][4] Industry Context - The expansion of HSBC's services comes amid a broader trend where banks are exploring digital assets to improve payment processes, particularly following the introduction of the GENIUS Act in the U.S. that sets new rules for stablecoins [4][6] - Tokenized deposits are defined as digital representations of bank deposits, fully regulated and backed by the bank's balance sheet, distinguishing them from non-bank issued stablecoins [5][4] - The implementation of tokenized deposits may provide a viable path to digital cash without necessitating a complete overhaul of the existing banking system [7]

Crypto Adoption & Regulation - Pakistan aims to attract $25 billion USD through a rupee-backed stablecoin [1] - Brazil is implementing banking regulations for cryptocurrency activities [1] - Kazakhstan is establishing a $1 billion USD sovereign reserve in crypto [1] - The United Arab Emirates (UAE) has launched its central bank digital currency (CBDC) [1] Market Trends - The global race among governments to adopt and regulate cryptocurrency is accelerating [1]

Core Insights - The future is focused on digital capital, digital money, and digital intelligence [1] - The United States aims to establish itself as the crypto capital of the world [1] Industry Trends - Digital forms of assets are considered to be significantly superior to their analog counterparts, with a claim of being 100 times better [1] - There is a growing emphasis on the importance of understanding cryptocurrency [1] Key Figures - Michael Sailor is recognized as a pioneer in Bitcoin treasuries, indicating a leadership role in the cryptocurrency space [1]

Stablecoin & Cryptocurrency - Weekly stablecoin senders on Ethereum surge past 1 million [1] - UAE's first VASP to obtain dirham-based licence [1] - Citi plans to launch crypto custody in 2026 [1] - Citi, BofA, and Goldman plan G7-pegged reserve-backed digital money [1]

Regulatory Landscape - The Bank of England aims to implement new stablecoin regulations by the end of next year [1] - Global policymakers are working to mitigate financial stability risks associated with the proliferation of digital currencies [1]

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Billionaire VC Jim Breyer On Digital Money And The AI Revolution https://t.co/LAzTrEp8Fp ...

Core Insights - Chainlink's recent integration with SWIFT solidifies its role in the evolving blockchain infrastructure that is transforming global finance [1][2] Group 1: Integration and Functionality - Chainlink's SWIFT integration establishes a standardized framework for transferring digital assets between financial institutions, starting with tokenized funds [3] - The integration allows banks to manage on-chain assets using ISO 20022, the universal standard for interbank messaging [3][6] - The initial pilot focused on UBS Tokenize, but the platform's design allows for extension to other banks' tokenization systems like HSBC's Orion and JPMorgan's Kynexis [4] Group 2: Interoperability and Standards - Chainlink's cross-chain interoperability protocol (CCIP) enables communication between different blockchains, similar to how SWIFT facilitates interbank messaging [5] - The SWIFT integration translates ISO 20022 messages into blockchain-native calls, facilitating necessary actions across various tokenization engines [6] Group 3: Broader Adoption and Partnerships - As financial institutions adopt tokenization, they increasingly depend on Chainlink's infrastructure, which has partnered with major players like Intercontinental Exchange, Euroclear, and DTCC [8] - Chainlink is also involved in central bank digital currency (CBDC) pilots globally, including initiatives in Singapore, Hong Kong, and Brazil [9]