The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n
The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n
Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services<\/a><\/p>\n\n\n\n Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Standard Chartered said that if ETF inflows reach the bank's mid-point estimate of $75 billion and reserves managers accumulate Bitcoin, it will give a good chance for the price to overshoot next year. Should it happen, the analysts are optimistic the BTC price will climb to $250,000 in 2025 before cooling to around $200,000.<\/p>\n\n\n\n See Related: Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services<\/a><\/p>\n\n\n\n Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"We think the gold analogy \u2013 in terms of both ETF impact and the optimal portfolio mix \u2013 remains a good starting point for estimating the 'correct' BTC price level medium-term.\"<\/em><\/p>\n\n\n\n Standard Chartered said that if ETF inflows reach the bank's mid-point estimate of $75 billion and reserves managers accumulate Bitcoin, it will give a good chance for the price to overshoot next year. Should it happen, the analysts are optimistic the BTC price will climb to $250,000 in 2025 before cooling to around $200,000.<\/p>\n\n\n\n See Related: Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services<\/a><\/p>\n\n\n\n Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The bank analysts based their predictions on ETF approvals, comparing Bitcoin to gold prices when the first gold exchange-traded funds debuted in the US. In an emailed statement to investors, the strategists said:<\/p>\n\n\n\n \"We think the gold analogy \u2013 in terms of both ETF impact and the optimal portfolio mix \u2013 remains a good starting point for estimating the 'correct' BTC price level medium-term.\"<\/em><\/p>\n\n\n\n Standard Chartered said that if ETF inflows reach the bank's mid-point estimate of $75 billion and reserves managers accumulate Bitcoin, it will give a good chance for the price to overshoot next year. Should it happen, the analysts are optimistic the BTC price will climb to $250,000 in 2025 before cooling to around $200,000.<\/p>\n\n\n\n See Related: Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services<\/a><\/p>\n\n\n\n Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n \u00a0\u201cAs an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of digital Renminbi.\u201d<\/em><\/p>\n\n\n\n e-CNY is currently being pilot-tested in 26 Chinese cities and provinces. Standard Chartered targets plot tests of the digital yuan in cross-border payments, supply chain, and trade financing. The move comes when China is championing for businesses to drive the uptake<\/a> of e-CNY. Recently, the Chinese central bank launched a B2B digital renminbi platform to streamline cross-border functions.\u00a0<\/p>\n\n\n\n See Related:<\/strong><\/em> Chinese Platform WeChat Accepts Payments With The Digital Yuan CBDC<\/a><\/p>\n\n\n\n The digital yuan, or e-CNY, has been the most advanced central bank digital currency in the leading economies. As of June 2023, the digital currency saw over 1.8 trillion yuan or $250 billion in transaction volumes. The number of wallets for e-CNY transactions has risen to over 120 million. <\/p>\n\n\n\n Standard Chartered has now become one of the first foreign entities to join the CBDC\u2019s<\/a> business pilot. In May, BNP Paribas joined and promoted the Chinese digital currency, linking its corporate clients\u2019 wallets with their bank accounts.\u00a0<\/p>\n","post_title":"Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-joins-e-cny-pilot-tests-to-offer-digital-yuan-exchange-services","to_ping":"","pinged":"","post_modified":"2023-12-13 22:30:28","post_modified_gmt":"2023-12-13 11:30:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Banking giant Standard Chartered<\/a> has predicted that Bitcoin price could rise to $150,000 by the end of the year. The forecast is an upgrade from the previous $100,000 the analysts predicted.<\/p>\n\n\n\n The bank analysts based their predictions on ETF approvals, comparing Bitcoin to gold prices when the first gold exchange-traded funds debuted in the US. In an emailed statement to investors, the strategists said:<\/p>\n\n\n\n \"We think the gold analogy \u2013 in terms of both ETF impact and the optimal portfolio mix \u2013 remains a good starting point for estimating the 'correct' BTC price level medium-term.\"<\/em><\/p>\n\n\n\n Standard Chartered said that if ETF inflows reach the bank's mid-point estimate of $75 billion and reserves managers accumulate Bitcoin, it will give a good chance for the price to overshoot next year. Should it happen, the analysts are optimistic the BTC price will climb to $250,000 in 2025 before cooling to around $200,000.<\/p>\n\n\n\n See Related: Standard Chartered Joins e-CNY Pilot Tests, To Offer Digital Yuan Exchange Services<\/a><\/p>\n\n\n\n Standard Chartered also shared insights about the spot Ether ETFs and is optimistic that the SEC will approve the products on May 23. The analysts expect the approvals to attract up to $45 billion in inflows within the first 12 months. This would unlock Ether's price to $8,000 by the end of 2024, the bank says. The analysts added:<\/p>\n\n\n\n In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22.\"<\/em><\/p>\n\n\n\n With a projected BTC price<\/a> of $200,000 at the end of 2025, Standard Chartered says the ETH price could climb to $14,000. At the time of this publication, Bitcoin was exchanging hands at $67,000 and Ether at $3,400. Both assets had cooled off from their previous strengths.<\/p>\n","post_title":"Standard Chartered Tips Bitcoin to $150K at Year-End, Optimistic of Ether ETF Approval","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"standard-chartered-tips-bitcoin-to-150k-at-year-end-optimistic-of-ether-etf-approval","to_ping":"","pinged":"","post_modified":"2024-03-21 03:33:54","post_modified_gmt":"2024-03-20 16:33:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15939","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14560,"post_author":"21","post_date":"2023-12-13 22:30:20","post_date_gmt":"2023-12-13 11:30:20","post_content":"\n Standard Chartered has joined the trials of Chinese digital yuan, according to an announcement<\/a> on Monday. The bank\u2019s China division is collaborating with the City Bank Clearing Services Ltd. to allow its clients to buy, redeem, and exchange digital currency. Xiaolei Zhang, president of Standard Chartered China, said,<\/p>\n\n\n\n
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