Goldilocks and Seeds of Wisdom
Figure Technologies Incorporated is looking for regulatory approval from US authorities.
They are looking to initiate to the public an interest-bearing stablecoin. It will establish a new category for stablecoins.
This particular stablecoin will give Federal legitimacy to the new digital economy.
If approved, Figure Technologies Incorporated will be the first issuer of a stablecoin regulated as a security in the United States.
The stablecoin will accrue daily interest, and it will distribute a monthly gain to their holders.
The interest will come from reserves backed by the Treasury, Commercial Paper (cash), Corporate Bonds (SOFR) and other assets.
CryptoNewsFlash Link
© Goldilocks
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“To:
Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Securities and Exchange Commission (SEC) has adopted final rules that shorten the standard settlement cycle for most broker-dealer transactions from the second business day after the trade date (T+2) to the first business day after the trade date (T+1). The compliance date for this change is May 28, 2024.”
The final rule means it’s being implemented now, and all banks have until the end of May to be compliant. This does not affect currency rate changes.
The next and final step later this year is to go to instant settlement cycles.
OCC Link
© Goldilocks
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Two important events this week could determine the future of Fed rate policy | CNBC
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Banking Announcement:
The disruption to traffic via the Red Sea/Suez Canal route could continue for months.
The higher freight costs and the delays in deliveries could reignite inflation.
Central bank interest rate cuts could be delayed by a few months if monetary policymakers see an uptick in inflation.
OilPrice Link
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Digital economy named as one of the main vectors of co-operation between Russia and India | TV BRICS, 22.01.24
“We are united by the common goal of building the most modern infrastructure, creating a safe and comfortable urban environment. One of the most promising areas of our co-operation is undoubtedly information technology and digital economy. India and Russia are striving to become leaders in this field, and joining forces can create a synergistic effect,” Cheremin said.
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From stall to supermarkets, India’s QR codes show the future of payments. India’s Unified Payments Interface revolutionises finance for more than 1 billion people
The Sydney Morning Herald
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2024-01-22 07:13:55
Vietnam Digital Freight Forwarding Market Precision Pathways Navigating the Importance of Market Segmentation | Taiwan News
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Trade settlement in Chinese RMB soars 600pc | Business Recorder
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UK Regulators Consult on Operational Resilience for Critical Third Parties | Katten Muchin Rosenman LLP | JDSupra
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Source: Dinar Recaps
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