7 Years Ago

As Saudi and the UAE explore ways to develop closer economic ties they have agreed to launch a new Cryptocurrency initially to be used just between their banks.

This announcement is seen as a step away from the reliance on petrodollars and is another sign of the Middle East embracing blockchain technology. Is this all part of the gradual decline in the dominance of US$ as outlined in https://medium.com/coinmonks/is-time-up-for-the-us-as-the-worlds-reserve-currency-c05b581dec79?

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Cryptocurrency
Finance
https://www.thenational.ae/uae/uae-and-saudi-ar...y-1.815401
Swiss private bank Falcon have are now offering the custody of certain Digital Assets and for clients to swap their holdings with each other.

The ability to for clients, who hold Digital Assets to trade directly with each other without the need to use an exchange is a potential threat for Digital exchanges but is another example of how Blockchain technology is able to disintermediate. Falcon can now allow private and institutions to transfer cryptocurrencies with each other as well as convert into fiat as well as offer.

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Banking
Digital Assets
https://www.globenewswire.com/news-release/2019...ncies.html
Another Crypto exchange is to be launched to enable trading of tokenized traditional publicly quoted shares, private unquoted companies, and tokenized assets.

The Hg exchange has said that it will be using Blockchain technology and aims to be a member exchange for South East Asia meaning that anyone that wants to trade or list on the exchange will need to deal through one of HG’s licensed financial intermediary. One wonders how many more exchanges will be launched and how long will it be before we start seeing consolidation and exchanges being acquired to gain critical scale?

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Blockchain
Cryptocurrency
https://www.thecryptoupdates.com/zilliqa-and-ma...-exchange/
Yet another organization to have its own cryptocurrency, expect to see many more global brands to do the same as they want to embrace this new method to digitally engage with people.

We have recently seen Facebook, Saudi Arabia/UAE, and the IMF say that there are 15 countries looking at some form of Digital Currency.

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Bitcoin
Finance
https://bitcoinexchangeguide.com/spains-city-of...tocurrency
The FCA has released its long-awaited consultation paper into Crypto assets, exchanges, payment providers, wallets and firms involved in this growing market sector.

The report looks at the risks and potential challenges and opportunities that Crypto assets offer, as well as setting out thoughts for UK regulation and outlining the different activities that should be regulated. This consultation paper is a clear sign that the FCA is trying to offer those firms that are involved in this sector guidance to this new asset class and ought to help the UK keep at the forefront of the development of Digital Assets.

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Cryptocurrency
Regulators
https://www.fca.org.uk/publications/consultatio...yptoassets