Member Info for Lloyd88

Yes rich I read the fear from the BOE perspective and yes they have little appertite for it. But through the DSS they will have full control and will be able to see its impact. Which is why I feel it’s so important for GST to be the first to show case it through there. The previous government was keen to by pass these worries but we don’t know labours standpoint yet. Hence the statement GST made in thier accounts. We only have a few weeks left of summer then hopefully the DSS will open for the first cohort of applications.

They said they were still in discussions with the FCA and this me it can only be about the sandbox, my take at least

They said authorisation wasn’t a strategic priority, they didn’t say sandbox wasn’t. I think they were very careful with thier words. I assume they said authorisation because if the change in government and stablecoin legislation being put on the back burner for now.

No company can issue stablecoins in the UK at the moment. Hopefully when labour get their party sorted they will review that bit of legislation but my hope is they will be able to do this through the DSS.

1:1 backing in central bank money: Systemic stablecoin issuers would need to hold £1 in Bank of England deposits for every £1 of coins issued. This would ensure stablecoins maintain their value, in combination with other regulatory protections.

this is a link to the discussion paper posted last week on the BOE website

good read

https://www.bankofengland.co.uk/-/media/boe/files/paper/2024/the-boes-approach-to-innovation-in-money-and-payments.pdf

I would recommend if anyone has any question to email Tim. I’ve sent him so many emails I’m not sure how many more answers I personally will get.

Same with 773709 trade today

Noticing a lot of trades of the same at the moment, 651,725 trade lost money, bought yesterday and sold for less today

Yes thats correct clearbank would be able to offer this.

this is a requirement from BOE

An alternative model is for stablecoins used in systemic payment systems to be backed by deposits placed with, and safeguarded by, one or more commercial banks. In this model, the issuer would have no direct relationship with the central bank, though the safeguarding banks holding the backing assets would be able to access central bank liquidity.

This would be similar to the backing model that is primarily used by firms that issue electronic money (so-called ‘e-money’) in the UK and EU. The FCA is considering allowing non-systemic stablecoins to be backed with short-term cash deposits (ie deposits with commercial banks), alongside short-term government bonds.footnote[45]

Not clear bank that was N26 and never got an answer on thats. They talk about clear bank in their annual accounts

Https://clear.bank/accounts

The second tab on this section on this page

Different structures for your ClearBank accounts

is says : Often referred to as a permanent account, where you and your customers have a physical bank account. All GBP is held securely at the Bank of England.

this is an exact requirement from BoE and FCA for issuance of digital assets under the DSS.

This is what tim said below sunny

and on Clearbank these wider range of services are those offered by Clearbank, such as different currencies, that GST customers now have access to given the Clearbank relationship.

have a look at what they offer and it will tell you all you need to know. Intergration with clearbank will have added a bucket load of pages to their book for both angra global and GS20. When couple with thier GS Money blockchain which is now reporting expectional revenue through the backing of these assets im upping my predictions for the year!

For me this is price sensitive, some companies have experienced a 40% increase in transactions through their intergration

Kat I asked this, no reply from Tim yet.

Tim has confirmed to me that they are using clearbanks service and now have access to more currencies.

and on Clearbank these wider range of services are those offered by Clearbank, such as different currencies, that GST customers now have access to given the Clearbank relationship.

https://clear.bank/use-cases/crypto

check their website, their services include digital asset platform service and all deposits through them are backed by the Bank of england, this means that their blockchain would be issue digital currency if allowed.

This integration imho is a game changer and no wonder Angra Global and GS20 are smashing it!!!

Peel on the ask, finally ran out. Hopefully they don’t get restocked with too much

Where are they getting all these shares from

How are peel still the only ones on the ASK,

Kat why don’t you promote it? You must know just as well as us on all the promise the company has, if your aware of all the bad and we’re prepared to communicate that on the way down why don’t you yourself promote the good on the way up?

Even SCAP on 0.6p is on 0.66p on the ASK.