Glassnode’s Post

Transforming Cross-Border Trade: IMDA's TradeTrust Paves the Way for Digitalization 🌐 Exciting developments are underway in the realm of international trade, thanks to IMDA’s TradeTrust initiative. This innovative project is revolutionizing the way cross-border trade is conducted through the power of digitalization. 💡 What is TradeTrust? It's a groundbreaking framework developed by the Infocomm Media Development Authority (IMDA) of Singapore. The aim is to harness technology to streamline and secure the exchange of trade documentation in international trade. 🔗 The crux of TradeTrust lies in its ability to digitalize the flow of trade documentation, thereby reducing the reliance on physical paperwork. This transition not only accelerates the trade process but also significantly reduces the potential for fraud and errors. 🌍 The impact of TradeTrust on global trade is profound: - Speed and Efficiency: By digitalizing trade documents, TradeTrust cuts down the time required for cross-border transactions, making trade faster and more efficient. - Security and Trust: Utilizing blockchain technology, TradeTrust ensures the authenticity and integrity of digital documents, fostering trust among trading partners. - Sustainability: Reducing paper usage aligns with global efforts towards sustainability, making trade more environmentally friendly. 🤝 IMDA’s initiative is a testament to the transformative power of digital technology in traditional sectors like trade. It opens up new possibilities for businesses, especially in regions where trade is a critical component of the economy. 🚀 As we move forward, initiatives like TradeTrust are not just about technological advancement; they’re about shaping a more connected, efficient, and secure global trading ecosystem. 🔍 For businesses involved in international trade, keeping an eye on developments like TradeTrust is crucial. It’s an opportunity to stay ahead in a rapidly digitalizing world. https://lnkd.in/gsYphCQ6 We heard directly from Sin Yong Loh of IMDA on December 12 and it was a moment filled with great insights of the future of #digitaltrade: https://lnkd.in/du5iqakn Erik Valiquette, CCLP Andrea Frosinini Bob Gravestijn Ayhan Köseoğlu Ren Yuh Kay Subra Shankhar Chris Sunderman Julien ACHARD ☆ CertICM Philippe HENRY Christian CAZENOVE David Meynell Chris Southworth Sarah Green Sunil Senapati Saloi B. Wim Kok #TradeTrust #IMDA #DigitalTransformation #Blockchain #InternationalTrade #Innovation

On Wednesday 6 September 2023, a Reed Smith LLP On-Chain panel comprising Singapore-based Hagen Rooke, Hong Kong-based Jill Wong and Dubai-based Soham Panchamiya, moderated by On-Chain Lead Celisa Morin, discussed developments in crypto regulation across Asia. The hybrid event attracted more than 80 audience members. Our key takeaways include: ℹ Singapore, Hong Kong and the UAE have cemented their position as hubs for the crypto industry, and although regulatory dynamics differ across these locations, they will all continue to be key centres of innovation. ℹ In each of these jurisdictions, regulation is being implemented in a phased manner. Depending on a crypto firm’s operating model, entry to market may currently require a licence or be wholly unregulated. ℹ Practical challenges remain, e.g. around access to bank accounts and speed of licensing, but these are being addressed by the industry. ℹ For the foreseeable future, Asia will continue to be an early mover in emerging areas, such as stablecoin regulation.   https://lnkd.in/gTkaD6rW  Our Fintech/Financial Regulatory practice in Singapore is ranked Band 2 in Chambers Asia Pacific 2023: Singapore. For more information: https://lnkd.in/eEvJ_xxn #virtualassets #cryptocurrency #financialregulation #Singapore #stablecoin

🚀 Join Us for an Exclusive Panel on RWA Tokenisation!🚀 I’ll be moderating an insightful panel discussion with industry experts Markus Infanger of Ripple Henry Zhang of DigiFT Lamine Brahimi, CFA of Taurus SA and Mari-Liis Kukk, Ph.D. diving deep into the future of Real-World Asset (RWA) tokenisation. With $1 quadrillion in assets, can TradFi harness tokenisation to reduce operating expenses, which make up >50% of total expenses to create substantial value ? What type of transformation and talents do they need to achieve this ? And which benefits for customers ? Here is a short preview of their POVs : Markus Infanger ✅Efficiently managing $1 quadrillion in assets can boost productivity. ✅Regulatory clarity is essential; strides in Singapore and the EU. Mari-Liis Kukk, Ph.D. ✅Tokenisation can streamline reporting and supervision. ✅Investor protection and legal clarity are key challenges. ✅Needs public sector support and a global financial blueprint. Lamine Brahimi, CFA ✅Scalable, secure infrastructure ready for regulatory frameworks. ✅Clear US regulation and stablecoin standards are vital. ✅Best practices: integrated tokenization, smart contract flexibility, transparency. Don’t miss this opportunity to hear from top experts and gain valuable insights into the transformative potential of RWA tokenisation. 📅 Date: [July 3rd Zürich, Point Zéro Forum] 🕒 Time: [4pm] 📍 Location: [Insights stage] Feel free to ask them questions in comments and to be part of the conversation shaping the future of financial markets! #blockchain #tokenisation #RWA #fintech #digitalassets #financialmarkets #innovation #paneldiscussion #event Cc Victor Busson Point Zero Forum Sopnendu Mohanty / 漠汉帝 / 模範帝 / सोपनेंदु / ସୋପ୍ନେନ୍ଦୁ Matteo Rizzi Sophie GUIBAUD Tram Anh Nguyen Huy NGUYEN TRIEU Pat Patel Jaskaran Bhalla Ivan Communod

Despite the happenings in digital technology, we're still finding our feet when it comes to optimising efficiency and expanding financial access in cross-border transactions. This report is a collaboration between the Monetary Authority of Singapore (MAS) and the Bank for International Settlements – BIS, and it's all about digital asset networks. Let me share a few highlights from the report, just some food for thought: ♦ We're moving from a one-man show to an all-inclusive party, thanks to the shift from centralised to decentralised models. ♦ Metcalfe’s law is in play: the more the merrier! More members in a network means more value. It's like the bigger the party, the more fun it is. ♦ The paper compares open-invite parties (public networks) with exclusive clubs (private networks). ♦ A roadmap was developed to understanding digital asset networks. ♦ We're learning the rules of a new board game, with the principles of Financial Market Infrastructures applied to digital asset networks. ♦ In the world of digital asset networks, the only constant is change. So ongoing review of standards and practices is a must! So, what does all this mean? Well, it seems like digital asset networks could be a major player in shaping the future of finance. And staying informed and adaptable is key 💡 Sopnendu Mohanty Sanjiv Purushotham Navin Gupta Saqr Ereiqat Prakash Somosundram Nezar Alhaidar #digitalassets #Finance #Innovation #FutureOfFinance #Blockchain #CrossBorderTransactions #projectguardian

One of the biggest markets in existence that is just coming into view is the market for payments for ecosystem services. In our work at Cerulean Ventures over the years, it has become one of our core focus areas in crypto. Stablecoins and crypto payments are two of the few tried and true technologies with demonstrated product-market fit worldwide in crypto, but we think this is still just the beginning. A new market is being brought into view partly by legislation (the EUDR to reduce deforestation due to European demand for agricultural commodities, the CSDDD for identifying environmental and humans rights risks in supply chains), and partly by the realization that business (and capital, and returns) relies on nature and not the other way around. With these forces coalescing, about $700 billion (with a B) in commodities PER ANNUM will need to be monitored, verified, and reported on, and payments dispersed to those who take the actions that result in better environmental and social outcomes. This is a $700B opportunity that few in the world are aware of, let alone in crypto, and it's what I'll be talking about at EthCC in Brussels next week! Come to the Horta Stage at 14:30 on the 9th — see you there!

The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. #cryptoadoption #stablecoins #MAS #singapore #cryptonews

Nxtgen Payment Infra was at the World Finance Council Fintech 2024 and World IT Forum event in Singapore 25-26 June. I was honoured to be invited as a panelist to talk about and discuss ESG and Fintech. We had a very detailed and invigorating chat. Thanks to World Finance Council for organizing this- well-formatted events help bring out important issues as there is more focus. My thanks to my co-panelists Katrina Victoria Gumaya Seh Harn G. Vanessa Loh Wan Chin for bringing up important points and covering quite a bit. We talked about assets, investments, purpose, social concerns, business models, some real-life examples of sustainability and blockchain, use of AI in insurance and a lot more. We need a few break-out sessions next time so that we can go deeper. What I liked was each of us picked up the others threads, linked back to points made by everyone else and gave the session a multi-layered flavour. I hope World Finance Council grows bigger in its efforts to bring more knowledge and exchange of views to the trade and wider communities. #sustainability #blockchain #AI #fintech MYFinT: Malaysian Youth FinTech Association

🚀 How did Singapore Became a Global Crypto Hub?   🎙️ We recently had the chance to speak with Tan Bin Ru, Chairwoman of the Blockchain Association Singapore (BAS), about how Singapore’s strategic approach to crypto regulation elevated its global position in the crypto world.   🌏 Bin Ru shares how a couple of years ago, Singapore began developing robust blockchain and crypto regulations, and working closely with a consortium of central banks to test CBDCs. The result? A forward-thinking regulatory framework that attracts blockchain innovators and investors alike.   💭 In this clip, listen to Bin Ru explain how Singapore’s regulatory strategy evolved and how it contributed to positioning Singapore as a regional and global hub for digital assets.   🗣️ What are your thoughts on the role of regulation in fostering innovation in the blockchain space?   🌍 Follow EmergingCrypto.io on LinkedIn, Twitter, and YouTube, and subscribe to our newsletter to keep up-to-date on web3 and global crypto trends in under 5 minutes per week. Link in comments!   #singapore #fintech #regulation #crypto #blockchain #cbdc

🌟 Great News! MAS Unveils Blockchain-Based Open Layer 1 at Singapore FinTech Festival! 🚀 Dive into this game-changing revelation announced today, reshaping the future of finance. Witness the moment (including my bad recording skills) as industry players join forces with MAS in unlocking a new era of possibilities. 🌐💡 Check out the groundbreaking announcement in the shared video! Embrace innovation, explore the potentials, and redefine the future of finance - this is Singapore FinTech Festival 🔥 #sgfintechfest #blockchaininnovation #financerevolution #crypto #fintech

🌍 EU Market Watchdog Signals Concern Over Crypto Exchange Dominance 📊The European Securities and Markets Authority (ESMA) has raised alarms about the crypto market's high concentration, where a mere 10 exchanges handle 90% of all transactions. This dominance, particularly by Binance which accounts for nearly half of the market, underscores potential systemic risks. As the European Union gears up to introduce MiCA, its comprehensive crypto regulatory framework, ESMA's findings spotlight the need for vigilant oversight to prevent disruptions in the financial sector. Read the full report here: https://lnkd.in/ebVMDESZ 👩💼🌐 Interested in learning how this evolving regulatory landscape could affect the future of finance? Visit www.besideproject.eu for more insights. #CryptoRegulation #ESMA #MiCA #DigitalFinance #BESIDEproject ITKAM - Italian Chamber of Commerce for Germany The Hive Business Accelerator Frankfurt School of Finance & Management F6S Fondazione Luigi Clerici LIDI Smart Solutions CBE - GEIE Coopération Bancaire pour l’Europe