An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.

Market commentary

Good Morning!

I am a bit surprised to hear the name of the bank that is pushing forward with stablecoins in Germany: Bankhaus von der Heydt.

This is a very old bank that has, however, specialised in securitisation-related transactions. The underlying blockchain it has chosen is "interesting": Stellar (XLM). This is not a chain that seems to have a lot of working DAPPS, or a great deal of traffic/transactions.

But it is a step in the right direction to start doing proper tokenization of traditional assets. I have mentioned it a few times in the past: if you only tokenize the asset, but still settle the fiat leg through the old pipes (SWIFT, correspondent banking network, etc.) there are no efficiency gains. Plus, you are missing the actual point of the tremendous amount of new add-on features this combination of stablecoin and tokenized assets can unlock.

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