ZB Research Institute: The market continues to accelerate the deployment of cryptocurrencies by leading companies

Recently, the global cryptocurrency market has continued to rise, with Bitcoin breaking through a high of $50,000 several times, and the market has responded enthusiastically. The total market value of global cryptocurrency has returned to a high of $1.9 trillion, and the transaction volume in various fields has soared, bringing a small bull market to the global cryptocurrency trading market.

According to relevant data obtained by ZB, Bitcoin has risen rapidly and exceeded $50,000, and nearly 90% (86%) of holders in the market will be profitable. According to the relevant data of various public chains, the average entry price of the current market is 45,000 US dollars.

The positive side of the market is inseparable from policy. On August 25, according to the news obtained by the ZB Research Institute from the US SEC, US banking giants JP Morgan Chase and Wells Fargo are preparing to cooperate with cryptocurrency giants New York Digital Investment Group (NYDIG) cooperated to launch a new Bitcoin fund.

On August 25 news, SEC Chairman Gensler said he would seek opinions to determine whether digital customer interaction innovations adopted by financial companies should follow existing rules.

ZB Research Institute believes that although the SEC’s thinking on this issue is still not forward-looking, it has recognized that relevant rules need to be updated in order to cope with artificial intelligence-led predictive analysis, differential marketing and aimed at optimizing customers. The behavior of participation suggests a revolution.

According to news on August 25, the Financial Services Agency of Japan began a debate on the implementation of stricter regulatory measures for encrypted assets in order to better protect users. Previously, the Financial Services Agency of Japan established a department to oversee digital and decentralized finance, and established a team of experts to ensure the stability of the new type of finance.

On August 25th, the Bank of Singapore and the Monetary Authority of Singapore (MAS) are committed to experimenting with the use of Bitcoin-inspired central bank digital currency to change the way currency flows across borders, thereby simplifying the global economy.

ZB Research Institute believes that once Singapore’s relevant plans are successful, this experiment in cooperation with the Bank of International Settlements Central Bank Consortium can reduce the cost to a level where even the lowest-income citizens can participate in the global economy. According to the ZB Research Institute, the Monetary Authority of Singapore and the Bank for International Settlements launched a new initiative called the “Dunbar Project” in July to establish a common platform for central banks to use central bank numbers. Currency (CBDC) direct cross-border transfers.

The policies of governments around the world have become more moderate, which has stimulated global financial giants and leading companies to accelerate their deployment in the cryptocurrency market.

On August 25th, PayPal is expanding its cryptocurrency service to the UK, allowing customers to buy, sell and hold four different cryptocurrencies on its platform. This is the first time PayPal has expanded its cryptocurrency service outside the United States, and will begin to promote it this week.

ZB Research Institute has learned that users will be able to conduct bitcoin, ether , litecoin and bitcoin cash transactions on PayPa at a minimum price of 1 pound . As early as October 2020, PayPal launched cryptocurrency buying and selling and holding services to American customers. The related service launched in the United Kingdom was PayPal’s first international expansion since it launched its cryptocurrency products in the United States last year.

ZB Research Institute believes that as more and more large companies, financial institutions, and industry giants deploy cryptocurrencies (such as paypal, MicroStrategy , a US stock-listed company with 105,084 bitcoin assets , Twitter, Fidelity Bank, JPMorgan Chase, etc.), there will be more companies involved in embracing cryptocurrencies led by Bitcoin.

If Apple, Google, and Facebook add Bitcoin to their applications, their businesses will be empowered by the blockchain, which will improve their ecology. And more economies such as El Salvador, Cuba, Turkey, Japan, Russia, the United States, the United Kingdom, and France conduct cryptocurrency transactions. The huge transaction volume and the resulting tax and financial circulation will have a positive effect on the fiscal deficit.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/zb-research-institute-the-market-continues-to-accelerate-the-deployment-of-cryptocurrencies-by-leading-companies/
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