Appreciate the edit. That conversation was one of the more useful ones in Singapore.
Banks and exchanges will keep arguing over who holds the balances. The part that actually needs work is the exit. That still sits between the two sides.
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#HSCLifeRules# - Nicholas Lo (@nic_web3), Chief Business Officer at @Bitbase_Ex, HSC Asset Management Singapore, October 8
Between banks, exchanges and other providers, the fight for market share is most intense in two places. Number one is who holds the idle stablecoin balances. We've seen deposit tokens, and banks letting users buy crypto inside the banking app. Number two is who earns from the stables sitting with them
But technically, crypto and TradFi need each other. Crypto entities provide a 24/7 flow of users. To bring that onto regulated balance sheets, we need regulated providers like banks and institutional funds to provide an exit. We need to collaborate a bit more instead of competing over who keeps most of the stables
#HSCSingapore#
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