Member Info for Lloyd88

AHS the DSS isn’t open yet, consultation finishes next week then first applications open in the summer, which coincides with stablecoin legislation. The innovations pathway was a steer to get them ready for this imho.

Https://www.tradingview.com/news/cointelegraph:4d4e2016a094b:0-boe-regulatory-culture-shift-could-open-door-to-new-tech/

this is also a smaller break down from what i posted.

Https://www.marketsmedia.com/boe-the-uks-digital-securities-sandbox/

If anyone wants to know more about the DSS, and why it is perfect for GST see link above. This is what i believe they are waiting for and is now almost here.

Entry into this is exactly what they need. They would be along side a selected group of participants and all would be on the same playing field.

I think and only speculating that this is what they have been waiting a year for and preparing for. I think the FCA knew this was being planned for and perhaps what GST were alluding too when they mentioned another possible application into a sandbox.

Moomins I will agree with Roger, it’s unlikely to be us, they will be working with a bigger player imho. But the overall message is exactly why we are all here

Sorry i meant FRN number for GS fintech not angra which they already have one.

Just a quick one AHS on that list that GST are on, i dont think its anything major as its just a notification list. They dont have an FRN number (firm reference number) for them or GS fintech, only Angra. When they have an FRN for angra ( i look daily for this) then they are at authorisation stage for their Stablecoins. With that list as well they have the likes of GSK (glaxo smith) on there so im not sure what it relates too but if it was anything substantially important i would have thought that we would have an RNS regarding it if im honest, just my take.

GS20 give them the liquidity needed to settle the coins. The whole set up just needs scaling, the stablecoin ecosystem is all there. GS20 has more that enough liquidity to settle any coin transaction, and with their new vaults now has the security needed

I’ll see if I can get the info AHS, but I read a while ago that the FCA were wanting issuers to have their own assets and not relying on customer deposits. I’ll read the discussion paper again, but the way I read it is they didn’t want banking deposits used as backing assets.

So if they issue 1million GGBP coins tomorrow they will have to have 1million gbp in the bank so they could be redeem straight away should the holders want to covert back.

AHS I actually don’t think it was all to do with security. I think it is a lot to do with how they are going to back their coins. The way they have to work is if you issue let’s say one GGBP coin they (gst) will need to have £1 in the bank to back it. Like wish with the other coins GEUR is 1 euro etc. I think they assumed going into sandbox they would be able to start small and build up the funds to back their coins at scale. Until accounts we don’t know how much they have to back their coins but if they still need to raise then they aren’t ready yet to issue them at scale. This is why I think the DSS sandbox is where they will go as authorisation now wouldn’t allow them to get very far I don’t think. This is also why I think they will want to sell the business earlier unless they pump large sums of money in from somewhere to back their coins.

Ive emailed Angra for a response to see if any of the BOD are coming over.

"Angra Limited","London",,"Worker (A rating)","Global Business Mobility: Senior or Specialist Worker"

"Angra Limited","London",,"Worker (A rating)","Skilled Worker"

angra have now sponsored to overseas visas, the global business mobility worker is new from a couple of days ago.

Santia its not that, looking at L2 the MMs are no longer offering the small spreads they were before today. next leg up after 1.0 is 1.04 and down is 0.90. They have all changed their metrics for what ever reason now. I think its because of the drop in volume they have moved back to moving the spread in 5% + movements as apposed to the last couple of weeks of 2% spreads. It does mean we will move faster with increased buying volume which is good but also move faster the opposite way, lets hope news is round the corner now!

It’s interesting they opened the ask at 0.99 today when it finished at 0.96. Didn’t see any opening auction

We know that GS20 Is profitable, we don’t know how profitable but I personally can only speculate there without any answer from the business. I’m expecting that with most conpanies they will have allocated and have account for gs20 separate to the Angra arm. We know they have an accountant and customer service employee/s and shane tan wages in there along with cost associated with running the platform, ie software and access to liquidity providers. So imho it must be generating over 150k-200k a year minimum really to cover these and more to be profitable, which is more than has ever been reported. I think that’s great progress. But that is if they are accounting like I would expect them too. Then there is Angra, Angra global and semnet to add into that (maybe not semnet as that has only just got going) but overall they must be on a pretty good trajectory.

Yes Kat that is something then need to be able to develope, they have to have the cash in the bank to back their stablecoins or deposits via their neo banking platforms/gs20. This is why I’m pretty sure they will apply for the DSS sandbox so they have time to build up that cash resource.

Theeduke jack would be diluting the boards shares at an unnecessary level. He knows full well it makes sense to issue them at a higher sp. If he was to actually agree it at this level then that would send a terrible message. He has a better business mind than that from what he’s shown.

Https://www.coinspeaker.com/uk-faces-deadline-for-stablecoin/amp/

Https://www.coindesk.com/policy/2024/05/08/uk-minister-says-government-only-has-time-to-implement-stablecoin-staking-legislation/amp/

Weeks people, weeks away

GS20 will cover the liquidity for it all. Bring on the legislation and the next acquisitions