News & Events
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Citi eyes stablecoin launch as it predicts $3.7T market by 2030
Citigroup CEO Jane Fraser announced the bank is exploring the development of its stablecoin and expanding into tokenised deposits, marking a significant move into digital assets by one of the world’s largest financial institutions.
The bank’s research arm, Citi Institute, projects that the stablecoin market could reach $1.6 trillion by 2030 in a base-case scenario, with potential growth of up to $3.7 trillion in bullish conditions. Fraser emphasised the bank’s focus on tokenised deposits and confirmed they are exploring crypto custody solutions.
This development aligns with a broader trend of traditional financial institutions entering the stablecoin space, following JPMorgan’s ongoing pilot of its JPMD stablecoin with institutional clients. However, regulatory uncertainty persists as recent House gridlock has stalled progress on key digital asset legislation, including the GENIUS Act, despite its earlier Senate approval.
Despite regulatory challenges, major banks continue to advance their digital asset initiatives, signalling growing institutional confidence in stablecoin technology and its potential to transform digital payments.
Read the original article here: https://www.msn.com/en-us/money/economy/citi-eyes-stablecoin-launch-as-it-predicts-3-7t-market-by-2030/ar-AA1IIwdZ?ocid=BingNewsVerp
CARICOM Day
The establishment of CARICOM was a landmark achievement for the Caribbean nations, as it aimed to promote economic integration, cooperation, and the shared development of its member states. CARICOM Day serves as a public holiday in Guyana and is recognized in several other Caribbean countries, providing an opportunity to reflect on the region’s collective progress and the importance of regional unity.
On CARICOM Day, member states organise a variety of activities to celebrate the occasion. These include parades, educational campaigns, and cultural events that highlight CARICOM’s achievements and goals. The day is an opportunity for Caribbean citizens to come together and reaffirm their commitment to the regional integration process, which is crucial in addressing common challenges and fostering shared prosperity.
As the Caribbean Community continues to evolve and strengthen its ties, CARICOM Day remains a significant occasion that fosters a sense of community and shared purpose among the region’s nations.
Stocks edge up to record, gilt yields surge on finance minister uncertainty
Global stocks gained on Wednesday following a surprisingly soft reading on the U.S. labour market, which fueled hopes of a potential pivot by the Federal Reserve.
The ADP National Employment Report showed private payrolls dropped by 33,000 jobs in June, well below the expected 95,000 increase, after a downwardly revised 29,000 increase in May. This weaker-than-anticipated data raised expectations that the Fed may slow the pace of interest rate hikes.
On Wall Street, the S&P 500 and Nasdaq Composite indices climbed, with Tesla shares bouncing back 4.7% after a 5.3% drop the previous day. The Dow Jones Industrial Average, however, dipped slightly. Globally, MSCI’s all-country world index hit an intraday record high, while the pan-European STOXX 600 index also closed higher, led by gains in renewable energy and luxury stocks.
In the UK, government bond yields surged, with the 10-year gilt yield jumping 16.8 basis points to 4.621%, amid growing speculation about the future of the country’s finance minister. The British pound tumbled 0.84% against the U.S. dollar.
The dollar index, which measures the greenback against a basket of currencies, rose 0.19%, snapping a nine-day losing streak, as the euro slipped 0.1% against the dollar.
Investors were also monitoring developments on the trade front, with President Trump announcing a new deal with Vietnam, which could help alleviate some trade-related uncertainty.
Oil prices also rose, with U.S. crude jumping 3.09% to $67.48 per barrel and Brent crude surging 2.98% to $69.10 per barrel, as Iran suspended cooperation with the U.N. nuclear watchdog.
Read the original article here: https://www.msn.com/en-us/money/markets/stocks-edge-up-to-record-gilt-yields-surge-on-finance-minister-uncertainty/ar-AA1HQK3y?ocid=BingNewsVerp
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Part 2: A Fireside Chat with Snowball Community Founder Simon Sansome | Webinar Recording
Explore the key issues of accessibility and inclusion faced by the estimated 1.3 billion people with disabilities worldwide. This past webinar, hosted by Julia Charlton, highlighted innovative solutions like the Snowball Community app.
Part 2: A Fireside Chat with Snowball Community Founder Simon Sansome
Join us for an insightful webinar as we explore the power of accessibility and inclusion with Simon Sansome, founder of the Snowball Community app.
Fireside Chat: A Surgeon’s Mission in Rwanda | Webinar Recording
The Commonwealth Chamber of Commerce recently hosted a special fireside chat featuring Dr. James Han Boon KONG, an esteemed surgeon with over four decades of experience.
Commonwealth Secretariat Strategic Plan 2021/22 – 2024/25
The Commonwealth Secretariat Strategic Plan 2021/22-2024/5 is a collaborative results framework publication drafted by the Commonwealth Secretariat. It is based on the principles of the Commonwealth Charter, the previous Strategic Plan (2017/18-2020/21), notes and recommendations from the Executive Committee and Board of Governors, internal and external documents such as the Forum of Small States, and mandates drafted during the Commonwealth Heads of Government meetings in the past decade.
Commonwealth Plasticity
The world can not recover from the impact of COVID-19 without an effective rules-based trading system that is both inclusive and sustainable. It will require members of the World Trade Organisation (WTO) to work in conjunction towards galvanizing multilateral trade to equip the Commonwealth states, as well as the rest of the world should they wish to partake, for any trade issues that may arise.
The Decentralised Commonwealth Dominance
Undoubtedly, trade is an essential element of sustainable economic development which has alleviated millions of individuals out of poverty worldwide. The importance of global trade to universal prosperity is showcased in the WTO’s membership which, over the 25 years since its establishment in the 1994 Marrakesh Agreement, has increased to 164 members, including 50 Commonwealth states, collectively constituting 96 per cent of global GDP.
How the presence of untrustworthy websites leads to consumer distrust
Tajdin Hassan, Chief Marketing Officer at Daraz Bangladesh, on the future of e-commerce platforms in Bangladesh: “The presence of untrustworthy websites that lead to consumer distrust remains a major issue for us”
Digital Services Tax: An Uncertain Future
In the midst of a raging pandemic as well as in its aftermath, the world has been gripped by digitalisation. Most companies have now transformed into digital entities, and most have a digital presence in almost all parts of the world.
Barrister Rashna Imam on the factors preventing women from entering the legal profession in Bangladesh
Barrister Rashna Imam is an Oxford scholar, an advocate of the Supreme Court of Bangladesh (both Divisions), and the Managing Partner of Akhtar Imam & Associates. Before joining Akhtar Imam & Associates, Rashna gained expertise as a corporate associate at Baker & McKenzie (London Office) through advising global giants like Arcelor Mittal and Schneider Electric on M&A and post-acquisition integration.