One picture to understand the cross-border financial blockchain service platform

Deputy Governor of the Bank of England: Cryptocurrency needs regulatory measures similar to the traditional financial system to reduce risks: According to news on July 11, Jon Cunliffe, deputy governor of the Bank of England in charge of financial stability, proposed to formulate a set of regulatory measures similar to the traditional financial system to reduce risks. Address risks within the crypto ecosystem while increasing investor confidence. Cunliffe referred to the Terra debacle during the press conference, noting that cryptocurrencies unable to maintain their value have put pressure on the entire crypto market. He compared his thoughts on a regulatory framework for cryptocurrencies to a similar situation in traditional finance, where regulation protects investors from irreparable loss: To me, this underscores the fact that we now need Introduce a regulatory system to manage risks in the crypto world in the same way we manage these risks in the traditional world.

While acknowledging the “real potential for use in the financial system” of cryptocurrencies, Cunliffe said regulation of cryptocurrencies need not be fundamentally different from traditional finance. However, it may need to be applied differently when considering the underlying technology that underpins cryptocurrencies.

Bank of England Governor Andrew Bailey emphasized the need for international institutions to engage in borderless or cross-border transactions of cryptocurrencies. Bailey said that unsecured cryptocurrencies "have no intrinsic value, but are better viewed as an investment. On the other hand, he believes that stablecoins are better suited as a form of payment, and I think they (cryptocurrency and stablecoins) need A different perspective, and that's what we're going to do in terms of how we're going about it. (Cointelegraph) [2022/7/11 2:05:32]

Source｜ State Administration of Foreign Exchange

Cross-border payment company Nium uses RippleNet to enter the Southeast Asian market: On May 30, Singaporean financial technology startup Nium used RippleNet and blockchain technology to become the first company in the region to provide payment corridors from the Americas to multiple destinations in Southeast Asia.

RippleNet helps Nium rapidly increase the breadth and depth of its global payment services by connecting with new partners. These new partnerships also help Nium strengthen its presence in Australia, Singapore and Malaysia. (U. Today) [2022/5/30 3:51:08]

LayerSwap integrates Layer2 network zkSync, and users can transfer assets from CEX to zkSync: According to news on December 24, the cross-chain and cross-layer protocol LayerSwap has integrated Layer2 network zkSync, and users can now transfer assets from the CEX platform to zkSync through this protocol. [2021/12/24 8:02:08]

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