I think USDC is making their move to introduce CBDC into the market.

The problem with the US is that if you operate a money transmitter business in the US , you need to have a Bond for each individual state which starts at like 1M USD+. Other states have varying rates for their bond but it operates as an insurance for sending money.

Now Banking licenses are also hard to acquire but USDC (Circle) has purchased their own Bank and they are acquiring their own Banking licenses.

My theory is that with that , they can turn fiat -> USDC direct for their users.

The SPAC they held for the acquisition of the bank itself would allow them to become the bank. I think this is the one thing that was missing in the US regarding crypto. Coinbase couldn't do this but Circle i believe has been able to succeed and i think they will be catalyst to the CBDCs.

So the question is... Are you ready and prepared for the CBDCs?

What do you think this will do to the crypto market with USDC becoming the standard?

Tether? Any other stablecoins?

https://www.pymnts.com/cryptocurrency/2022/circle-getting-closer-to-applying-for-digital-bank-license/

So i found this altcoin called "Jasmy"

Went from 1USD to 5USD and then it dumped to 0.01.

Suddenly it's on Coinbase and then all major exchanges afterwards. Perpetuals and everything else.

I found it strange so i did some digging and i found the people associated to the project are all Sony people.

So that peaked my interest. And i started looking into it and my intuition told me to dig deeper.

I did not know anything about Sony before i started looking into this. But i discovered that Sony itself is a Massive Behemoth who do not just do movies / video games and stuff...They do everything.

Did you know that Sony has their own Bank? I didn't. https://moneykit.net/en/

Did you know that Sony has their own insurance company? I didn't.

Did you know Sony has their own payments systems? I didn't. 

Did you know that Sony has people at the mega banks? MUFG example. One of their former presidents now runs their Sony Financial. Did you know that the same bank owns 24% of Morgan Stanley?

Sumitomo Mitsui Banking Corporation is the bank they're associated to on their website , which holds about  $2.18T AUM.

They're also the only crypto which is backed the FSA which is like SEC for Japan. seems to be very hard to secure one of these licenses. Now that got me excited. What in the world was Sony planning with this? It's an IoT Crypto... But if u look into one of the founders patents that is related to Sony... It seems to be implants that can monetize humans. They even own the patents for it.

https://patents.justia.com/inventor/kazumasa-sato

Then i found they were associated to this thing called "Line.me" which is like the Facebook in South East Asia. They partnered with them. If you look through the application , they have a full suite of services. Which can be monetized with Jasmy as it's backing and allows users to sell their data essentially.

I would tell you more , But my due diligence led to several entities like Greyscale / Santander / Genesis Trading / Coinbase ... Another one is interesting is Securitize.io. Sony invested MILLIONS into this...

They called this asset the "Japanese bitcoin"

But did i stumble into a Black mirror investment / episode?

If you guys can add any other insights or things to my crazy research and speculation... I would love to hear it. My friends think i'm a little crazy but maybe it's the lack of sleep but am i wrong?

Let me know your thoughts and insights. I'm going to do some more digging but man i think i'm going crazy looking into this.

Cheers!

33QE

How does any of these stablecoins have any value? And does it have to be pegged to something specifically?

Cuz Tether is backed by assets and reserves that aren't on-chain. The US Dollar is backed by the belief that it is worth 1USD but it's propped up by the fact that the US is the strongest military in the world.

If the Fed can print money out of thin air and Tether can too , How does this even make sense?

What is forcing someone from making their own "Tether" and saying its worth 1USD because i said so?