Wow, Swift’s blockchain ledger is really live!
The world’s largest interbank network Swift, at the official announcement at the Sibos conference in Miami, says that the blockchain shared ledger is now in operation. By year-end, at least 19 banks will be onboarded, covering 5 major currencies, with 24/7 settlement. The underlying technology uses tokenized deposits. Previously, a single cross-border settlement had to route through intermediary banks and make a detour; now it goes straight on-chain. Banks themselves are stepping in to build the network—this is one of the biggest official announcements in the RWA track this year.
Now let’s look at the market: Bitcoin futures open interest has, for the first time this year, climbed above $5 billion. Anchorage Digital’s research head put it plainly: this isn’t a warning of excessively high leverage—it’s an early signal that the market is warming up, because spot trading activity is amplifying while the order book is thinning. BTC has just rebounded 14% from the September lows; after pushing up to 85,200, it pulled back to around 83,800.
And there’s a hidden ace up its sleeve: On October 1, the U.S. Treasury will conduct another Treasury repo operation—up to $6 billion for the 10–20 year tenor, with a size that’s 3 times that of the last one. Liquidity in long-dated Treasuries gets directly absorbed.
Banks’ pipelines are being rebuilt, and the market’s ammunition is being topped up—so pullbacks are opportunities.
#RWA #Bitcoin
$BTC $ETH $XRP
The world’s largest interbank network Swift, at the official announcement at the Sibos conference in Miami, says that the blockchain shared ledger is now in operation. By year-end, at least 19 banks will be onboarded, covering 5 major currencies, with 24/7 settlement. The underlying technology uses tokenized deposits. Previously, a single cross-border settlement had to route through intermediary banks and make a detour; now it goes straight on-chain. Banks themselves are stepping in to build the network—this is one of the biggest official announcements in the RWA track this year.
Now let’s look at the market: Bitcoin futures open interest has, for the first time this year, climbed above $5 billion. Anchorage Digital’s research head put it plainly: this isn’t a warning of excessively high leverage—it’s an early signal that the market is warming up, because spot trading activity is amplifying while the order book is thinning. BTC has just rebounded 14% from the September lows; after pushing up to 85,200, it pulled back to around 83,800.
And there’s a hidden ace up its sleeve: On October 1, the U.S. Treasury will conduct another Treasury repo operation—up to $6 billion for the 10–20 year tenor, with a size that’s 3 times that of the last one. Liquidity in long-dated Treasuries gets directly absorbed.
Banks’ pipelines are being rebuilt, and the market’s ammunition is being topped up—so pullbacks are opportunities.
#RWA #Bitcoin
$BTC $ETH $XRP