Top Tweets for #BankChain
🚀 BankChain Alliance unites 39 state banking groups to build a U.S. blockchain network for tokenized deposits and payments by 2027. A watershed for fintech and crypto. 🔒 #BankChain #Blockchain #TokenizedDeposits #Payments #crypto #cryptonews ⚡
The BankChain Alliance network is set to revolutionize banking with emerging capabilities, ensuring regulatory standards, security, and customer trust.
#BankChain #Fintech #Innovation
US banks just formed a giant blockchain alliance called BankChain Alliance. The reset button has been pressed. 🚀
What does this mean for the future of on-chain banking? 👀
https://t.co/6knL9bB58g
#BankChain #Crypto #Blockchain
So now US banks are building their own “#BankChain” for payments, stablecoins and tokenized deposits.
Remember when banks wanted nothing to do with crypto?
Turns out they didn't hate the #technology.
They just wanted their own version of it.
$KAS
🏦 39 U.S. banks are backing “#BankChain” — a 24/7 blockchain designed for tokenized deposits, stablecoins and faster settlement.
Banks are building their own rails to compete with crypto.
https://t.co/B94YO4b21d
#banking #payments #stablecoins
Banks are coming on-chain. 🏦⛓️
AI Bank is bringing global equities on-chain with them.
#RWA #ETF #BankChain
JUST IN: 39 U.S. state banking associations are joining forces to build a nationwide, bank-run blockchain network.
The “BankChain Alliance” is targeting a 2027 launch and will support regulated stablecoins, tokenized deposits and smart payments.
The industry-owned network will represent thousands of banks and be interoperable with other networks.
🚨 U.S. BANKS BUILD THEIR OWN BLOCKCHAIN!
🇺🇸 39 state #banking associations have formed the #BankChain Alliance, targeting a 2027 launch for a bank-owned #network supporting stablecoins, tokenized deposits, and smart payments.
🎥 Watch the full video below 👇
Banks are done fighting crypto, so they're building their own chain. 39 U.S. state banking associations just formed BankChain Alliance, a bank-run blockchain for stablecoins and tokenized deposits, live next year. The turf war moved on-chain. #BankChain #Crypto
U.S. state banking groups formed BankChain Alliance to build a bank-owned permissioned blockchain for tokenized deposits, stablecoins and programmable payments.
https://t.co/NrfrGTqalD
#BankChain #Stablecoins #TokenizedDeposits #Blockchain #Banking #Crypto
🚨 LATEST: 39 U.S. State Bankers Associations Launch BankChain Alliance
⚡ Thirty-nine state bankers associations have formed the BankChain Alliance to build an industry-owned blockchain network for modern banking services.
#BankChain #Blockchain #Banking #Crypto #DigitalAssets
Banks: “Crypto needs to work inside the banking system.”
Also banks: build a nationwide blockchain network
#BankChain #Stablecoins #TokenizedDeposits #Banking #Blockchain #CWC #CMCSA
banks building their own chain
2027 launch for stablecoins
tokenized deposits
payments
they're not fighting crypto
they're becoming it
will tradfi eat defi's lunch or just validate the thesis?
#BankChain #Stablecoins #TradFi
Blockchain Banking coming via #BankChain
JUST IN: 39 U.S. state banking associations are joining forces to build a nationwide, bank-run blockchain network.
The “BankChain Alliance” is targeting a 2027 launch and will support regulated stablecoins, tokenized deposits and smart payments.
The industry-owned network will represent thousands of banks and be interoperable with other networks.
@morning_warmth @KNEELToken @SlayerOfZeros @WhalliamFrond Can't wait!!! Looking forward to it, #BANKCHAIN
@danny_demi_defi @KNEELToken @SlayerOfZeros Absolutely agree. Danny, I'll send you what i've been working on. I need a few more hours today to finish of the prototype, then id love your feedback. Ill sent it to you and @WhalliamFrond $LUNC #bankchain
@coingecko New interbank settlement network challenges cross-border payment incumbents. With $1.1T daily SWIFT volume, expect 10-15% migration to chain within 3 years – potentially unlocking hundreds of billions for RWA sector. #SWIFT #BankChain 📊
Friday Round-Up
1⃣ @Citi
• As discussed in our blog this week https://t.co/AknXx2G80d, @Citi Bank is following in the footsteps of @jpmorgan in not only developing their own private, native @Citi #bankchain, but providing to institutional clients the following:
-Tokenised deposits
-Cross-border payments
-Automated trade finance solutions, 24/7
• This comes as no surprise to anyone in the #Chainlink Ecosystem👇
• @SergeyNazarov: "Every bank will have their own private #bankchain."
➡️ Head of Global Services for Citi, Shahmir Khaliq:
• “Digital asset technologies have the potential to upgrade the regulated financial system.”
• “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next generation transaction banking services to our institutional clients.”
Read more about the @Citi initiative: https://t.co/7xjlGIRvEG
2⃣ @PayPal Stablecoin $PYUSD Hits the Market💵
• It's been six weeks since @PayPal and @Paxos announced the creation of the PayPal stablecoin $PYUSD. As of September 21, $PYUSD is now available to select users on @Venmo.
• As discussed in the @PayPal press release, the stablecoin will roll out "fully" to all users in the coming weeks.
• We view this is as a significant building block in adoption, clearing the way for more capital to seamlessly make its way onchain.
• Read the release here: https://t.co/hQIa4BgGWg
3⃣ @GOPMajorityWhip and #CBDCs
• For anyone who follows politics, it's no secret how Tom Emmer, the Majority Whip of the House Republican Caucus from the 6th District of Minnesota, feels about Central Bank Digital Currencies ➡️ he's not a fan.
• This week, the Majority Whip reintroduced a bill to ban the issuance of CBDCs by the Federal Reserve. This bill passed the Financial Services Committee days ago and will now go to the full House for a vote.
• This comes as more than 130 countries are currently exploring the notion of adopting a central bank digital currency, but Emmer and the Republican Party has positioned itself against such development.
• "The American people have a right to financial privacy from a surveillance-style CBDC. That’s why I’m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States’ digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness.”
• No Democrats on the Financial Services Committee voted in favor of sending the Bill to be voted on in front of the full House.
• The Majority Whip has reignited the longstanding argument: are CBDCs a more efficient, cheaper way of conducting domestic transactions, or a surveillance tool to be used against the people?
• The full House vote is yet to be scheduled, but the Bill is likely dead-on-arrival once it makes its way to the Democratic-controlled Senate.
4⃣ @truflation Update
• U.S. Truflation🇺🇸, 8 Sept.: 2.66% (+0.04% W.o.W.)
• U.K. Truflation📷, 8 Sept,: 9.22% (+0.10% W.o.W.)
• The September FOMC meeting took place on Wednesday, Sept. 20, with Officials announcing a continued pause in rate hikes, for now.
• 12 Fed Officials see another rate hike whereas 7 do not.
• "We see rates higher for a longer than anticipated period of time," projecting the inflation rate for 2024 ~ 2.6%.
• It's the continued hawkish sentiment and comments that have Fed Futures predicting rate cuts beginning no sooner than end of Q3 2024 (despite previously pricing in multiple rate cuts earlier in the year).
• "Inflation remains too high, and the job is not finished."
• Also worth noting: US02Y and US10Y yields this week reached levels not seen since 2006/2007.
5⃣ All things #Chainlink⛓️
• This past week for #Chainlink was an inflection point, with the spotlight shining bright on @SergeyNazarov across the @swiftcommunity-sponsored @Sibos conference.
• As put by our good friend, @CatfishFishy, Sergey was paraded around #Sibos like the Pope.
• Now that #Sibos has concluded, next week, we'll do deep dives and break down the talks that Sergey gave.
The key takeaway: @chainlinklabs has created a piece of infrastructure that is mission-critical for the global financial system.
➡️ @GuardianAudits has released their thorough analysis of #Chainlink Automations (formerly, Keepers) for the GMX V2 system. (See report here: https://t.co/CcM09BooCr)
➡️ Proof of Reserve, #PoR
• As if the events that unfolded in the 2000's didn't make apparent the need for truth-based auditing in real-time, 2022 left the #DLT industry ridden with the need for Proof of Reserves.
• Today, @chainlinklabs announced the reputable accounting firm, UK-based @HarrisTrotter_, will provide independent, third-party attestations to #Chainlink Proof of Reserve.
• "Available for both offchain assets and cross-chain assets, @HarrisTrotter_ will calculate the value of both fiat and investment assets stored offchain and attests to the total value of reserves, sourcing from APIs through an external adapter and reported onchain."
• 16 years after the Great Recession, the global financial system has not sufficiently filled the void of providing adequate solvency and proof of reserves, liabilities.
• This announcement is a core steppingstone in chipping away at trust-based systems and processes.
• Read the full announcement here: https://t.co/JQjiKja9zX
➡️ #ChainlinkBUILD🏗️
• @Hope_money_
• @MarkXProtocol
➡️ Total #BUILD🏗️ Tally: 62
Guardian is pleased to release our full security analysis of Chainlink's automation contracts for the GMX V2 system.
All 13 findings are recorded in detail in the report below 👇
The last two weeks have marked significant developments in the #blockchain #DLT industry, one of which we discussed in a post last week:
1⃣ @jpmorgan is developing Deposit Tokens on its private Onyx #bankchain
2⃣ On September 18, @Citi announced "the creation and piloting of Citi Token Services for cash management and trade finance" (tokenized deposits) for institutional clients.
Both of these initiatives are currently being conducted on private #bankchains.
We've heard from @swiftcommunity, @ANZ_AU, @The_DTCC, and for years from @chainlinklabs of the importance of private, permissioned blockchains for financial entities.
Why though? Why not deploy to a public blockchain? Why not operate in a private database?
Let's peel back the onion and dive in👇
https://t.co/AknXx2G80d
@CatfishFishy > connects banks' traditional back-end systems & infrastructure to their own private chains
Why would a bank want a Blockchain rather than a database?
🚀 Passando aqui para avisar que em breve teremos novidades!
🔔Ative as notificações para não perder.
#swapix #smartpay #fiqueligado #tether #criptomoedas #Real #convertatetheremreal #blockchain #bankchain
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