How does sell bitcoin to credit card usd custody solution work and what are the implications for traders?
The custody solution is designed to remove the need for asset managers to move their crypto from secure cold storage into hot wallets on exchanges in order to trade.
As well as introducing perceived security risks, transferring collateral between wallets and exchanges can incur delays of up to one hour, depending on the time needed for confirmation on a given blockchain network. Delays can further be compounded due to withdrawal times after the trade is settled.
China’s Central Bank Proposes a Blockchain-Based Trade-Finance Platform
The People’s Bank of China proposed a blockchain trade financing information platform for the Guangdong-Hong Kong-Macao Greater Bay Area.
Disrupting how cross-border trade info is shared
In an attempt to develop and implement better financial technology in the region, the proposal states that the country should build a blockchain-powered trade financing info service platform “under the premise of legal compliance and commercial voluntariness.”
The platform, they stated, would help participating banks securely share information pertaining to cross-border traders through a reliable source.
Blockchain’s decentralized infrastructure makes third-party intervention unnecessary when sharing trade info between members. This makes for a highly secure foundation for a trade finance information platform.
They further proposed the use of artificial intelligence and big data in marketing, risk prevention, and sell btc to paypal usd financial supervision.