JBMorgan launched blockchain pilot in India, BEASTS, BUSD and USDT taking advantage.
JPMorgan plans to launch a pilot project in India's banking industry to assess performance using its blockchain platform, Onyx. The project, approved by the International Financial Services Center Authority, will involve HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank, and JPMorgan's own unit at GIFT City. The aim is to improve the current settlement system, which experiences delays and restrictions on weekends and holidays. Implementing a real-time blockchain system will enable round-the-clock transactions, ensuring continuous operation throughout the week.
New Delhi is boosting efforts to establish Gujarat International Finance Tec-City (GIFT City) as a trading hub alternative to Singapore and Dubai, according to Bloomberg. The Reserve Bank of India has launched a domestic non-deliverable forward market settled in US dollars at GIFT City.
Meanwhile, Reserve Bank of India's Deputy Governor, Mahesh Kumar Jain, advocates integrating blockchain and AI in the country's banking sector. Jain stressed the importance of adopting these technologies proactively for sustainable growth and risk management in the banking industry during an RBI seminar for Indian bank directors.
DeFi Surge and Stablecoin Dominance Unveiled
Recently, DeFi has surged, locking over $200B in value, offering advantages over traditional banks like control, lower fees, and transparency. To stay relevant, banks can collaborate with DeFi, invest in blockchain, or risk losing out. JP Morgan's ONYX and other banks recognize this disruption. Social media platforms like TikTok and Twitter could also challenge banks by providing financial services to their massive user base.
The two most well-known stablecoins tied to the US dollar are Binance USD (BUSD) and Tether USD (USDT) in the cryptocurrency market. While USDT addresses blockchain issues and enables cross-border money transactions, BUSD stands for cryptocurrency backed by the US dollar. Adoption of DeFi can help these stablecoins by boosting demand and utilising them as collateral. The goal of DeFi is to cut fees, which could result in cheaper transaction costs for users of BUSD and USDT and speedier, more transparent, and more effective financial services.
Humorous Ingenuity: Caged Beasts' Cryptocurrency Adventure
With its distinct fusion of humour and ingenuity, Caged Beasts (BEASTS) has attracted the attention of the cryptocurrency community. With a variety of contests, events, bonuses, and other benefits for its investors, this new meme coin initiative promises to provide a humorous twist to the cryptocurrency market. Caged Beasts presents an intriguing opportunity for potential investors looking for a fun and potentially rewarding investing experience, with a successful presale on the horizon.
The idea of caged liquidity, which guarantees transparently locked funds for the community, is what distinguishes Caged Beasts from other games. Not content with that, Caged Beasts is prepared to expand its already intriguing portfolio by delving into the area of non-fungible tokens (NFTs). Caged Monsters creates a sense of anticipation and thrill by fusing its captivating tale with the slow reveal of astonishing deformed monsters.
However, it is their ground-breaking referral scheme that actually distinguishes Caged Beasts. Investors can create a special referral code and share it with friends and family in the bitcoin industry first. An exceptional 20% bonus will be given to both the code's inventor and the new investor who utilises it. In addition to encouraging exclusivity and camaraderie within the project, this ground-breaking approach also supports rapid expansion.
Caged Beasts is well-positioned to captivate investors searching for an exciting and fruitful investing journey thanks to its pre-sale hype, NFT expansion, and creative referral scheme. Prepare to be surprised and empowered as never before as Caged Beasts roars into the crypto world.
JPMorgan launches blockchain pilot in India to improve settlement systems. India boosts GIFT City as an alternative trading hub. RBI emphasises integrating blockchain and AI in banking. DeFi surges and stablecoins challenge traditional banks. Caged Beasts offer humour and innovation in crypto.
Get To Know More About Caged Beasts (BEASTS):
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
Disclaimer: This is a featured content
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.