Swiss National Bank Prefers Tokenized Assets over CBDCs, and other News
The president of the BNS refers to the tokenization of assets as an alternative to CBDCs. SNB explores RTGS connection and supports private token money. In other news, 1.238 trillion PEPE tokens on Binance were deposited by a crypto whale.
The Swiss National Bank (SNB) plays a paramount role in the integration of cutting-edge technology into the financial sector. At a recent summit held in Basel, SNB President Thomas Jordan announced the bank’s strategic move toward asset tokenization.
Jordan highlighted that the SNB is evaluating various methods to facilitate transactions using tokenized assets through central bank money. This approach aims to eliminate credit and liquidity risks, in addition to reinforcing the stability of the monetary system.
Helvetia III Project
Helvetia III is a project involving live pilots, where participating banks use wholesale central bank digital currency in Swiss francs (CBDC), with the aim of settling transactions with tokenized bonds on the SIX Digital Exchange (SDX).
Jordan stressed that the settlement of transactions in central bank money is crucial to preserving financial stability. He added that the SNB is a pioneer in taking advantage of blockchain technology in order to increase the operational efficiency of financial markets.
Jordan further stated the following:
“If the tokenization of assets becomes mainstream, settlement in central bank money will be crucial. This will allow central bank money to maintain its essential role as the anchor of the monetary system and to continue to serve as a safe means of payment.”
Finally, Jordan analyzed alternative settlement methods to wholesale CBDCs, focusing on the link between tokenized asset platforms with the Swiss RTGS system and the use of privately sourced, bankruptcy-protected and fully backed token money. for demand deposits in the SNB.
Crypto Whale Sent More Than $10.5 Million in PEPE to Binance
A crypto whale, identified with the address 0x1a2, sent 1.238 million PEPE tokens to Binance, involving an intermediary, 0xDe8, in a carefully planned movement that took place in a few days.
The activity began between May 4 and 5 of this year, days in which the crypto whale accumulated the memecoin on a large scale. He first withdrew 915.85 billion PEPE tokens from Binance, whose value reaches approximately $7.75 million. These tokens were purchased at a unit price of $0.00000846.
After a little more than 24 hours, the pace intensified, and the whale obtained an additional 1.238 billion tokens. Ultimately, the transaction culminated in a total investment of $10.4 million.
Apparently, what the crypto whale intended was to capitalize on market fluctuations in order to make profits.
Should the whale choose to sell at the current price of $0.00000841, he would have a moderate gain of $134,000, which would be approximately 1.28% in just three days.
Contrary to this maneuver, the history of the crypto whale shows mixed results:
“Previously, the whale had gained $146K (+14.2%) from one INJ trade but lost $118K (-8.01%) from one RNDR trade. The whale did not hold both tokens for long either,” as noted by the platform Spot On Chain analysis.
Despite such a significant sale, the PEPE market trend continues to rise. This memecoin currently presents a bullish pattern, characterized by a strong initial increase in price, which is then followed by a period of consolidation.
The patterns described above suggest that the bullish momentum will continue. If PEPE manages to successfully break out of this formation, its price could increase by up to 40% to reach $0.00001186. From a more conservative perspective, it could go up as much as 29%, reaching all-time highs of up to $0.00001081.
By Leonardo Perez