Axis News Updates
We’re in Bull Mode - Why is this Bull Market Different?
🤔 Why This Bull Run Stands Out
Unlike previous runs fueled by ICO frenzies or COVID-induced government spending, the current rise in crypto values, especially Bitcoin, is rooted in something more substantial – real adoption. We're not just talking about retail investors jumping on a trend. This time, it's about big players, major institutions, and everyday users genuinely understanding and utilizing blockchain technology.
📈 A Shift from Speculation to Adoption
Remember the days when crypto was all about speculation and meme investments? Well, times have changed. Now, we're witnessing big names like BlackRock, Fidelity, and Visa exploring tokenized assets and on-chain payments. It's not just about 'investing' anymore – it's about 'using.' The technology is being embraced by giants in various sectors, from finance to retail.
🌍 Real-World Adoption and Its Impact
This bull run is underpinned by tangible factors: visible inflation, interest rate changes, and a shift towards real-world asset tokenization. It's a sign that the financial world is not just experimenting with crypto but integrating it into their systems and processes.
🛡️ What Does This Mean for You?
As an investor or a financial advisor, it's crucial to recognize this shift. The current market movement isn't just another bubble. It's a signal of the growing acceptance and integration of crypto in mainstream finance. It's about understanding the value of self-custody and transparency that blockchain offers.
New Stabelcoin Listing - Back to the Renaissance
Societe Generale, aka SocGen, one of the banking giants in Europe, has just made a move that could well be a game-changer for the entire financial industry. They've stepped boldly into the crypto space by issuing their very own stablecoin. Now, before you say, "Another stablecoin? What's the big deal?" - hear me out, because this is not just any stablecoin.
🌟 A Regulated Leap into Crypto
SocGen isn't playing around; they're making serious moves. They've launched this stablecoin completely aligned with EU's MICA regulations. It's not a wild shot in the dark; it's a calculated, compliant step into the future of finance. Imagine, a bank-issued stablecoin that you can trade just like any other cryptocurrency.
This isn't just about adding another asset to your portfolio. SocGen's move takes us back to the roots of banking, reminiscent of the days of the Medici family. You deposit your assets, and in return, you get banknotes - or in this case, digital tokens. It's an old concept reimagined with modern technology.
🔮 Peering into the Financial Future
Now, let's take a moment to dream a little. Imagine a future where major banks like Chase or Wells Fargo start issuing their public tokens. We could be on the brink of a whole new era in decentralized finance, where your deposits could be represented by tokens from these banking behemoths.
🤔 What This Means for You
If you're a financial professional, this is big news. We're not just talking about a new investment option. We're talking about a fundamental shift in how finance operates. A world where stablecoins backed by various assets, not just fiat currency, become the norm. A world where the traditional banking system and decentralized finance begin to merge.
🛡️ Navigating the New Landscape
This shift brings up essential questions about asset safety, security, and investment in a world increasingly leaning toward decentralization. As an advisor or financial expert, understanding these changes is crucial. You'll need to guide your clients through this new landscape where transactions might occur outside the traditional banking system, leveraging the power of blockchain and stablecoins.
Jamie Dimon Railed against Crypto…Again
We’ve heard this from JP Morgan CEO before. In a hearing before the Senate this week, while being questioned by his biggest benefactor, Sen. Elizabeth Warren, Jamie reiterated that he feels Congress should regulate crypto out of existence.
He thinks it’s only for criminals and money-launderers.
You may be hearing this, and getting questions from clients or other advisors, so a few things to remember:
JP Morgan Chase has paid over $39 Billion in fines for various activity over the last few years. So the current system isn’t exactly choir boys.
His pal Senator Warren was the one asking the questions. Of course, she’s the one that helped bailed out the banks in 2008, and has been intent on maintaining banking oligopolies since then, including her misguided anti-crypto army.
JP Morgan Chase has several patents related to blockchain, has their own stablecoin, and has a division called Onyx that is issuing tokenized representations of assets.
Also…crypto is aiming to upset the banking industry. If only Jamie could look across the pond to SocGen.
Why I Get Excited Over Onchain Payments
Based on the news from Coinbase and SocGen this week, I wanted to include a Deep Dive on Onchain Payments.
☕️ The Coffee Shop Scenario: A Glimpse into the Future
Imagine walking into a coffee shop and paying for your coffee with a stablecoin, directly from your digital wallet. No more waiting days for transactions to clear, no hefty credit card processing fees for the shop, and instant settlement. This is the new reality we're stepping into.
💰 The Game-Changer: Immediate Settlement and More
This shift isn't just about making payments easier. It's about revolutionizing the entire transaction process. For the coffee shop, receiving payments in USDC means they get their funds instantly, they can cut down on processing fees, and they can even start earning interest on their earnings right away!
🌐 The Ripple Effect: From Coffee Shops to Global Finance
The implications are massive. With on-chain payments, businesses can streamline their operations, from payroll to supplier payments, all settled immediately and transparently. This level of efficiency was unheard of in the traditional banking system.
🔗 A Connected Ecosystem: The Big Picture
But there's more. This isn't just about individual transactions; it's about building a connected financial ecosystem. As more transactions occur on networks like Solana, the value of the network and its tokens, like SOL, could potentially rise. It's a win-win for everyone involved.
🌍 Why This Matters to You
We’re getting closer to the time when more of your clients will be able to earn, spend, and transact onchain. The world has gotten closer and smaller due to the Internet, and we’re finally seeing money follow suit. You’ll have to understand how these instant payments work, and how to help your clients with custody, income, and expenses.
Onchain payments are also going to affect companies you and your clients invest in, and the transparency and instant settlement of the blockchain technology will change the ways we value those companies.