United

Bitcoin

when

Read

Howard Lutnick, the CEO of Cantor Fitzgerald, articulated his support for crypto stablecoins and the tokenization of financial assets.
“Dollar hegemony is fundamental to the United States of America. It matters to us, to our economy,” Lutnick said at the <a href="https://crypto.news/tag/chainalysis/" data-type="link" data-id="https://crypto.news/tag/chainalysis/" rel="noopener noreferrer nofollow">Chainalysis</a> conference in New York, expressing his backing for well-supported <a href="https://crypto.news/tag/stablecoin/" data-type="link" data-id="https://crypto.news/tag/stablecoin/" rel="noopener noreferrer nofollow">stablecoins</a> like Tether and <a href="https://crypto.news/tag/circle/" data-type="link" data-id="https://crypto.news/tag/circle/" rel="noopener noreferrer nofollow">Circle</a>.
Cantor Fitzgerald is a custodian for <a href="https://crypto.news/tag/tether/" data-type="link" data-id="https://crypto.news/tag/tether/" rel="noopener noreferrer nofollow">Tether</a> Holdings, the largest issuer of stablecoins, which has been scrutinized regarding its backing claims.
Lutnick contends that stablecoins contribute positively to the U.S. economy by driving demand for U.S. Treasuries and representing a non-systemic risk.
Further focusing on the advantages of blockchain technology in finance, Lutnick predicted a major shift towards <a href="https://crypto.news/tag/tokenization/" rel="noopener noreferrer nofollow">tokenizing</a> real-world assets (<a href="https://crypto.news/tag/rwa/" data-type="link" data-id="https://crypto.news/tag/rwa/" rel="noopener noreferrer nofollow">RWA</a>), such as bonds, facilitated by advancements in blockchain technology.
You might also like: <a href="https://crypto.news/bitcoin-sinks-68000-us-inflation/" rel="noopener noreferrer nofollow"> Bitcoin sinks below $68k following US inflation data release </a>
“I think when proper blockchains […] are fast and cheap, are available, I think you will see over the next 10 years, fundamental tokenization of financial assets,” Lutnick said.
The move towards tokenization aligns with broader industry trends, with major financial institutions like <a href="https://crypto.news/tag/blackrock/" data-type="link" data-id="https://crypto.news/tag/blackrock/" rel="noopener noreferrer nofollow">BlackRock</a>, <a href="https://crypto.news/brevan-howard-participates-in-institutional-effort-to-tokenize-funds/" data-type="link" data-id="https://crypto.news/brevan-howard-participates-in-institutional-effort-to-tokenize-funds/" rel="noopener noreferrer nofollow">Brevan Howard</a>, and KKR exploring the technology for fund components.
<a href="https://crypto.news/citigroup-succeeds-in-blockchain-equity-tokenization-trial/" rel="noopener noreferrer nofollow">Citigroup</a>‘s projection that the tokenization market could reach $5 trillion by 2030 shows the potential scale of this shift.
However, <a href="https://twitter.com/howardlutnick" data-type="link" data-id="https://twitter.com/howardlutnick" target="_blank" rel="noopener noreferrer nofollow">Lutnick</a> voiced concerns over central bank digital currencies (<a href="https://crypto.news/tag/cbdc/" data-type="link" data-id="https://crypto.news/tag/cbdc/" rel="noopener noreferrer nofollow">CBDCs</a>), fearing their perception as tools of surveillance by other nations, notably China, which might view them as the American spy wallet.
Read more: <a href="https://crypto.news/base-tps-inflated-failed-transactions/" rel="noopener noreferrer nofollow"> Base’s TPS claim may be inflated by counting failed transactions </a>

Cantor Fitzgerald CEO advocates for stablecoins, tokenization

crypto.news

Inne artykuły opublikowane 10 kwi 2024

Unharmonized regulation threatens stablecoin usability — BIS report

Hong Kong Set To Greenlight Spot Bitcoin ETF In April

EOS Anticipates Bullish Trend, Can Bulls Take It To The Next Level?

Bitcoin Demand Outpacing Miner Issuance To Unprecedented Degree: Data

Analysts Price Prediction for ADA: Will Cardano Reach $5 Soon?

Y Combinator’s Paul Graham Slammed for Claiming Texts With “Delve” Are Written by AI

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!