ReCryptos - Chinese Banks Stepping up Blockchain Cross-border Trade Financing

" Chinese banks are looking to up their cross-border trade game – with a series of new blockchain-powered innovations that could seek to reduce the nation’s dollar dependence.

Per Sina, the Beijing-based China CITIC Bank, the country’s seventh-biggest lender, has become the first domestic bank in mainland China to make use of a blockchain-powered cross-border letter of credit in RMB for a domestic firm.

The bank made use of the Contour blockchain-based trade finance initiative platform to conduct the transaction. The initiative is an international effort that also comprises Bangkok Bank, BNP Paribas, CTBC, HSBC, ING, Standard Chartered, SEB and Citi – and its platform went live earlier this year after several months of beta testing. " - Read Full Article

Source: cryptonews is available for purchase

What Crypto Winter? $10B In Blockchain Revenue Expected By 2023 - Forbes

( Invest 0.098% of $10 billion = 888 bitcoin )

Grayscale’s Bitcoin portfolio is up 90% in 2020, now worth $4.5B - TheNextWeb

( Invest 0.2% of $4.5 billion = 888 bitcoin )

Tencent managed to become a digital behemoth with a revenue of 377 billion CNY (~$53bn USD) in 2019 alone, and it never had to mention terms such as ‘blockchain’ or ‘cryptos’ in order to achieve that status whatsoever. - Cryptos

The current size of the crypto-asset market, according to Aaro Capital, a company that facilitates investment in the technology, is about $200bn (€180bn) compared with $18bn at the beginning of 2017


According to Gartner Research, the Blockchain industry will deliver more than $3 trillion in value by 2030. This is a powerful growth story and a great long term strategic opportunity. - opalesque

Forbes reported, "Institutional demand for bitcoin is soaring amid the coronavirus crisis, with multi-billion dollar bitcoin and crypto-asset manager Grayscale reporting its biggest-ever quarterly inflows of almost $1 billion." - investorideas

Global Blockchain Devices Industry, Forecast to 2030 - Market to Grow from $300 Million in 2019 to $23.5 Billion by 2030, Exhibiting a CAGR of 48.7% - prnewswire

Breaking: Kraken just won approval to create America's first crypto bank - Fxstreet


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