opbnb

#Layer2
$
BTC$27,010ETH$1,617BNB$214XRP$0.51ADA$0.252USDC$1.00USDT$1.0000DOGE$0.06SOL$20BCH$214XMR$147.8ZEC$26NEO$7.62XLM$0.116MIOTA$0.15UNI$4.36YFI$5,351MATIC$0.54DASH$27BAND$1.08LINK$6.83DOT$4.14COMP$40.57AAVE$65.36SUSHI$0.61SNX$2.12CAKE$1.17EOS$0.58
Investors who have dollar-cost averaged into Bitcoin over time are profitable regardless of when they began implementing the strategy.
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MARKET ANALYSIS
The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into the leading cryptocurrency are now in the black, regardless of how long they have been holding.
This news comes despite the price of Bitcoin, as measured in U.S. dollars, still being down by over 50% from its all-time high of around $69,000.
Dollar-cost-averaging (DCA for short) is a strategy that consists of making regular purchases of an asset for a fixed dollar amount. The idea is that by spreading buy orders out over time, volatility can be mitigated. Some buys will execute at lower prices while others will be executed at higher prices. This method can be particularly appealing for an asset like Bitcoin, which has been known for its legendary volatility.
And yet, many financial pundits in the space still cling to the notion of Bitcoin’s
BTC
$27,010
entire existence and market cap of nearly $600 billion being based on a Ponzi scheme of some sort. Others continue to deny that saving in the hardest form of money ever known has, so far, been an excellent investment thesis — one that has outperformed all others.
Yes, there may be risks. And yes, volatility definitely comes with the territory. But looking at such factors in a vacuum does not make for adequate analysis of any investment. The alternative strategies available must be taken into consideration, along with other variables such as:
What is the current macro environment, and how might it change going forward? What impact might this have on different asset classes and their performance?What risk/reward ratio does one strategy offer in comparison to others?Can diversification lead to an optimized risk/return profile, or does YOLO’ing all-in provide better returns?
These are just a few potential questions that could be worth investigating when it comes to arguments against dollar-cost averaging (DCAing) into BTC for the long term.
Bitcoin outperforms traditional investments
Some investors, like those at Adamant Research, have been pointing out the reality of Bitcoin’s most favorable risk/reward ratio for many years:
“We assert that the long term risk reward ratio for Bitcoin is currently the most favorable of any liquid investment in the world. We expect for it to trade in a range of $3,000 to $6,500 after which we foresee the emergence of a new bull market.”
The group made similar statements during the bear markets of 2015 and 2011 as well.
Many traditional investments, like gold, real estate, or a portfolio consisting of 60% equities and 40% bonds, have significantly underperformed compared to DCA'ing into Bitcoin.
The following chart illustrates the relative performance of several currencies and asset classes against BTC quite well:
Needless to say, when it comes to comparing the performance of a DCA strategy in Bitcoin versus literally any other asset, there is little comparison to be made.
To diversify or not?
Traditional asset managers tend to abide by certain rules, one of them being the idea of rebalancing. When a particular asset outperforms, profits should be taken and distributed elsewhere, according to this line of thinking.
It can be considered a form of diversification “on the go,” so to speak. But whether discussing diversifying from the onset of constructing a portfolio or as time goes on, how would such a strategy compare to going all-in on what has so far been considered one of the riskiest, most speculative assets of all time?
The answer is simple: Doing so would be “selling the winner to buy the losers,” as investor Michael Saylor has said.
On a five-year basis, BTC/USD is up 376%. Compare this to about 55% for the S&P 500 or gold.
Taking profits from Bitcoin at any point in time and putting them into other assets would have decimated a portfolio’s potential. Income from dividends doesn’t compensate, except for those working with multimillion-dollar portfolios. And even then, the potential income would be dwarfed by the capital gains of holding a large Bitcoin position.
While the concept of “risk” often implies volatility and potential downside, what about the risk associated with “playing it safe?” Some argue that investors should also be concerned about the potential of their portfolios to barely keep pace with the rate of inflation, which has become a significant risk in recent years.
Related: CPI meets low BTC supply — 5 things to know in Bitcoin this week
Macro trends to consider
Proponents of Bitcoin and the DCA strategy have long since contended that BTC serves as the ultimate hedge against monetary inflation and overall financial market uncertainty.
Despite critics’ best efforts aimed at destroying this narrative, it has prevailed.
Look no further than the banking collapses of 2023 and Bitcoin’s resulting rally for proof. Furthermore, while the saying “so much for an inflation hedge” became popular in 2022 as BTC fell sharply from its all-time high, that idea strangely seemed to go by the wayside in 2023.
When it comes to money printing, there is perhaps no #crypto meme more famous than “money printer go brrr.” This meme depicted Federal Reserve Chair Jerome Powell at a printing press spewing freshly minted US dollars.
A big reason that meme was so successful was the truth behind it: The growth of the M2 money supply has been highly correlated to the price of $BTC /USD since its inception.
While money supply and velocity have been trending downward as of late, there’s little reason to believe that the monetary policy of quantitative easing (QE, also sometimes referred to as money printing) has vanished completely. More likely, it simply lies dormant for a time.
Slow and steady wins the race
For many Bitcoin and crypto cynics, no amount of evidence will alter their convictions. Once a Ponzi scheme, always a Ponzi scheme, in their view. But hodlers have taken the orange pill and seen the truth while reaping the just rewards.
While Bitcoiners can invite others to the cause, no one can force a worldview on another. Even if that view has long since become self-evident.
#BTC is up 87% year-to-date. Still, the price remains 44% beneath the all-time high of $69,000. The next halving is less than one year away, projected for May 2024.
Following this event, along with the prospect of increased institutional adoption in the immediate future, it’s widely anticipated that the #bitcoin price could reach six-figure territory and beyond during this cycle.
Disclaimer: The information contained on this widget is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this widget constitutes a solicitation, recommendation, endorsement, or offer by Cointelegraph or any third party service provider to buy or sell any cryptoassets or other financial instruments. We advise you to spend only what you can afford to lose, and always seek independent financial advice if you are in doubt. You should not purchase any cryptoassets if you do not fully understand the nature of your purchase and the risks involved. We recommend that you refer to the issuer’s/ advertiser’s t&c and help/ support pages for more information.#opbnb

#Layer2 Vàng đi theo một con đường gập ghềnh tới $1,940.00 do phản ứng của Fed, quyết định đi xuống sau cuộc gọi lãi suất của Fed.
Triển vọng của Fed thấy lạm phát cao hơn một chút so với dự đoán và giữ lãi suất ổn định.
XAU/USD đã dao động do phản ứng của thị trường, đợt phục hồi không kéo dài.
XAU/USD đã giảm xuống $1,940.00 sau khi Cục Dự trữ Liên bang (Fed) giữ lãi suất chuẩn ở mức 5.5% trong thời gian này. Ủy ban Thị trường Mở Liên bang (FOMC) đã công bố dự báo lạm phát trong tương lai, cho thấy lạm phát có khả năng cao hơn đôi chút so với dự báo trước đó.

#Layer2 The Empower Oversight group has filed a Freedom of Information Act (FOIA) request to unearth the communications of former SEC Chair Clayton.
In a continuous effort to enhance transparency and accountability in governmental agencies, Empower Oversight Whistleblowers & Research (“Empower Oversight”) has recently submitted a new Freedom of Information Act (FOIA) request. This application seeks explicit records of communications between Jay Clayton, the former Chairman of the Securities and Exchange Commission (SEC), and various individuals potentially linked to the SEC’s controversial cryptocurrency enforcement decisions.
Clayton’s Controversial Crypto Journey
From May 4, 2017, to December 23, 2020, Clayton notably declared Bitcoin was not a security. Furthermore, affirmations from senior SEC officials echoed his stance on Ether. Significantly, these announcements bolstered the value of both tokens. However, as Clayton’s term ended, the SEC’s sudden lawsuit against Ripple, claiming its #XRP token was a security, threw the cryptocurrency community into a whirlwind of speculation.
Consequently, eyebrows raised when Clayton joined One River Asset Management post-SEC, a hedge fund centering solely on Bitcoin and Ether investments. Given these developments, Empower Oversight intensified its efforts to unearth any behind-the-scenes communication between Clayton and several identified individuals during his time at the SEC.
New Insights Bring New Questions
Additionally, with Empower Oversight’s recent FOIA request, the organization seeks comprehensive communication details between Clayton and figures such as Jasmine Burgess, John D’Agostino, and others. Besides trying to piece together Clayton’s decisions, Empower Oversight is determined to ensure no conflicts of interest during Clayton’s leadership.
Moreover, this move comes at a crucial juncture, with the SEC facing flak from cryptocurrency advocates and leading US legislators. Notably, Patrick McHenry, Chairman of the House Financial Services Committee, criticized the SEC for its lack of transparent regulation concerning crypto-related activities in the US.
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Empower Oversight’s previous requests have already led to revelations. Notably, former senior SEC official William Hinman’s ties with his past employer, Simpson Thacher, garnered attention due to the potential implications of a conflict of interest. Hinman’s public declaration that #Ethereum was not a security contrasts starkly with the SEC’s previous references to similar tokens as unregistered securities.
Hence, as the inquiries deepen and the lines connecting the dots become more evident, the #cryptocurrency realm eagerly waits for clarity. These investigations will bring much-needed transparency and fairness in the rapidly evolving world of digital currencies.#opbnb

#crypto2023 Một sự bứt phá tiềm năng khỏi đường xu hướng trên có thể làm tăng thêm động lực tăng giá cho giá BTC.
Trong suốt tháng 9, hành động giá của #bitcoin chủ yếu bị giới hạn trong một phạm vi giao dịch hẹp, cho thấy một giai đoạn củng cố. Trong thời gian này, một đường xu hướng giảm liên tục cung cấp kháng cự, làm tăng kỳ vọng về một giai đoạn điều chỉnh kéo dài giữa các nhà giao dịch. Tuy nhiên, sự bùng nổ gần đây trên thị trường—một phần do lo ngại gia tăng về việc chính phủ Mỹ có thể ngừng hoạt động—đã thấy giá BTC cố gắng bứt phá khỏi rào cản này, thắp lửa hy vọng cho một giai đoạn tăng giá mới.

#Layer2 Chủ tịch Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC) Gary Gensler đã nộp lời chứng trước phiên điều trần của Ủy ban Dịch vụ Tài chính Hạ viện.
Trước phiên điều trần của Ủy ban Dịch vụ Tài chính Hạ viện Hoa Kỳ vào ngày 27 tháng 9 năm 2023, Chủ tịch Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC) Gary Gensler có vẻ sẽ lặp lại lập trường mà ông đã đưa ra trong phiên điều trần gần đây trước Ủy ban Ngân hàng, Nhà ở và Các vấn đề Đô thị của Thượng viện.
Cũng xem: Nhà phân tích Bloomberg tiết lộ một mảnh thiếu trong cuộc đua ETF Bitcoin của Franklin

#Layer2 Latest data from Kaiko, a blockchain analytics firm, reveals that while XRP prices are down 46% from July 2023 highs, its liquidity has significantly improved in the past two months, expanding 50% from $8 million to $12 million as of early September.
XRP’s Liquidity Rising
The jump in market depth follows a United States court ruling in July that negated the Securities and Exchange Commission (SEC) assertions that the coin was an unregistered security and that Ripple, the blockchain company that relied on the token on its On-Demand Liquidity (ODL) solution, had illegally raised billions in their initial coin offering (ICO).
Based on market data, XRP’s market depth, a metric used to measure a digital asset’s supply and demand at every price level, has steadily risen. However, the analytics platform notes that the 50% jump in liquidity is amid a sharp contraction in trading volumes and prices.
While liquidity has spiked, it still needs to be determined whether buyers are stronger than sellers at any price point, a reading that could help traders determine the short to medium-term trajectory. In an environment with stronger buyers, it hints that demand is high, a development that could support prices going forward.
Bears In Charge, Coin Down 46% From July Peaks
Price action data shows that XRP prices rapidly soared on July 13, rising nearly 100% as prices moved from $0.47 to $0.933. While there was optimism that there would be a follow-through that could lift XRP prices above $1 in the session ahead, prices have been cooling off steadily over the past two months.
Down 46% from July 13 peaks, XRP is changing hands at the early July 2023 zone, though trading volumes are within average when writing.
It is not clear whether prices will recover from spot rates. What’s apparent is that XRP prices are still boxed within the July 13 bull bar, and buyers have a chance, based on volume analysis, provided prices are above July 2023 lows at around $0.45.
Presently, XRP is also down 70% from April 2021 highs, and bears are in control from a top-down preview despite the current upswing that has shifted sentiment following last year’s dump that saw $XRP drop to around $0.30.
While Ripple registered a partial win in the July ruling, buoying #XRP prices, the SEC intends to appeal. Even so, more analysts are convinced that the two parties will settle before the case goes to trial. This may support prices.
Some experts note that this settlement will be in the best interest of the regulator since a trial will mean Ripple might call “#Ethereum ICO Insider,” Steven Nerayoff, as a witness. Nerayoff recently stated that Ethereum got preferential treatment during its initial coin offering (ICO).#opbnb #crypto2023

#crypto2023 #Layer2 Important alert issued to SHIB, BONE, LEASH and Shiboshis holders
Shibarmy Scam Alerts, an X account dedicated to exposing scams and protecting the Shiba Inu community, has reiterated a warning from the Shibarium Discord team.
Shiba Inu users are strongly advised not to connect their wallets containing SHIB, BONE, LEASH, ShibTheMetaverse, Shiboshis, or any other assets to unknown dApps.
Hey there, #Shibizens!
We really want to stress the importance of not connecting your wallet, which holds your precious $Shib $Bone $Leash, #Shiboshis, #ShibtheMetaverse, or any other assets, to unknown Dapps. It's crucial to be cautious and aware of the potential risks in order… pic.twitter.com/ra1rWuPQUB
— Shibarmy Scam Alerts (@susbarium) September 30, 2023
It was reiterated to the Shiba Inu community that there is a critical need to be cautious and aware of the potential risks to protect themselves from scams or misleading activities or information. They would also need to take necessary precautions in this regard.
In this light, Shiba Inu users are urged to always do their research, stay informed and always be cautious when connecting their wallets to unknown dApps.
Shiba Inu community urged to beware
First and foremost, the Shiba Inu community should be wary of phishing dApps. Bad actors often create dApps almost identical to legitimate platforms associated with SHIB, BONE, LEASH, Shiboshis, MV, or other assets.
In this regard, Shiba Inu users are advised to constantly double-check the dApp's name and URL to ensure it is the official and trusted version.
Second, Shiba Inu users should be on alert for fake dApp accounts. Scammers could create fake accounts on dApp platforms, claiming to represent reputable projects or services related to the Shiba Inu ecosystem. Shiba Inu users should verify the legitimacy of the account and the dApp before conversing or revealing any personal information.
Third, the Shiba Inu community should be wary of unsolicited messages, as scammers may use email or chat platforms to imitate well-known projects or team members linked with $SHIB , BONE, LEASH, Shiboshis, MV, or other assets. In this regard, Shiba Inu users should always confirm the sender's identity before acting.
Fourth, Shiba Inu users should keep an eye out for slight variations in the spelling or formatting of token names. Scammers enjoy inventing tokens with names that are eerily similar to known ones, all in the hopes of duping unsuspecting investors. As a result, before interacting with any dApp, users should ensure that they are dealing with the official token name and accompanying details.
Finally, #Shibainu users should be cautious of unofficial channels. They should instead stick to the official communication channels of Shiba Inu ecosystem projects or groups. They should also refrain from doing financial transactions or providing sensitive information through unofficial channels.#opbnb #ETH

#crypto2023 Stardust upgrade brings exciting new features to IOTA
IOTA, a distributed ledger technology network, has reached a new milestone with the Stardust upgrade. The IOTA team announced in an X post that the Stardust protocol upgrade and fork have now been completed.
IOTA cofounder Dominik Schiener, who is excited about the major upgrade, speaks of an IOTA rebirth on this particular day of the Stardust upgrade.
Today is the day where IOTA will be reborn 👏🚀
I’m incredibly excited and grateful to be on this journey with all of you. We are here to create one of the largest and most impactful technology ecosystems in the world.
We will not stop until we've realized our vision. https://t.co/dDe6iZKUjp
— Dominik Schiener (@DomSchiener) October 4, 2023
The former IOTA network splits into two as a result of a fork: the IOTA network, which is based on the Stardust protocol version with increased supply, and IOTA Classic, which is also based on the IOTA Stardust protocol but retains the old supply.
Following the upgrade, IOTA users are urged to update to the new Hornet and Firefly IOTA versions 2.0.0.
As stated, the new Firefly wallet version would have a tab that would reflect the airdrop given to users who had previously staked Assembly tokens.
Following the completion of the Stardust upgrade, almost 10% of the airdrop will be immediately available to users, with the remaining nearly 90% vesting every two weeks over 24 months.
It further states that no user action is required to migrate tokens to the IOTA Stardust network or to get airdropped IOTA tokens.
Stardust brings exciting new features to IOTA
The just-completed Stardust upgrade adds interesting new features to IOTA that might significantly boost its utility. These include transforming IOTA into a multiasset ledger with the capacity to feelessly mint, tokenize and transfer native assets.
#opbnb
The upgrade also adds the ability to feelessly mint and transfer NFTs on the IOTA L1 Smart contract tokenization, allowing the anchoring of L2 Smart Contract Chains on IOTA's Tangle via the IOTA Chains Framework, thus enabling IOTA to operate as a trustless asset bridge between L2 Chains.
Among the many new features introduced by the upgrade is asset wrapping, which allows assets from L2 chains to be wrapped and unwrapped into L1 native assets.
As a result of the Stardust upgrade, IOTA L1 will become a messaging layer for smart contract requests between L2 networks.#Layer2 #BTC #ETH

#Layer2 Elon Musk, CEO và chủ sở hữu của X (trước đây là Twitter), gần đây đã có một cuộc trao đổi với DogeDesigner (@cb_doge), một thành viên nổi bật của đội ngũ Dogecoin. Trong cuộc trò chuyện thân mật của họ, Musk đã đưa ra một gợi ý cho những người theo dõi về bản cập nhật sắp tới của nền tảng. Tất cả bắt đầu khi DogeDesigner gợi ý rằng X nên loại bỏ biểu tượng nhà chim, hiện đang đại diện cho trang chính. Musk đã nhanh chóng phản hồi với gợi ý này, nói rằng, "Chúng ta sẽ làm vậy." Một bản cập nhật như vậy không có gì ngạc nhiên, xét về sự kiên trì của tỷ phú centibillionaire này khi loại bỏ mọi thứ liên quan đến những gì X từng là.

Trong khi thị trường crypto bắt đầu tháng Chín với xu hướng giảm, nó kết thúc tháng với một nốt cao, với Bitcoin (#BTC ) ổn định ở dưới $27K và Ethereum (#Ethereum ) giao dịch gần $1,650. Khi chúng ta bước vào tháng Mười, có sự tò mò về những altcoin nào có thể tỏa sáng. Với sự quan tâm liên tục vào #bitcoin Cash (BCH), Chainlink (LINK) và Maker (MKR), những altcoin này có thể trải qua một đợt tăng giá, biến tháng này thành một “Uptober” đáng nhớ.
Các Altcoin có sẽ chiếm ưu thế hơn Bitcoin không?

#Layer2 The post Tron Price Recovery, Decentraland Shaping a New Reality for Investment, Pomerdoge Setting the Standard appeared first on Coinpedia Fintech News
Today’s article shines the spotlight on three separate currencies that have recently attracted the interest of investors. Tron (TRX) is making a strong price recovery, while Decentraland ($MANA ) empowers users with true ownership of digital assets, igniting enthusiasm among its community. Lastly, Pomerdoge (POMD), a meme coin writing its own narrative through a play-to-earn system and Pomerplace marketplace.
The Pomerdoge (POMD) Presale
Tron (TRX) Price Recovery
The Tron network runs a blockchain-based operating system that allows complex programs deployed on its decentralized network. Initially created to improve content creator benefits, it expanded its services to include blockchain-based games and other businesses.
The TRX coin has seen a modest price increase following a recent market crash. As a result, the Tron coin has now secured a position within the top ten cryptocurrencies. With a current market capitalization exceeding $7 billion, increasing by over 3% in the last month alone.
Particularly noteworthy is the impressive 18.99% growth the Tron coin price has recorded over the past six months. Due to its strong performance in 2023, the $TRX coin is now considered a promising choice for altcoin investments.
Decentraland Shaping a New Reality for Investment
The Decentraland community, as represented by Decentraland DAO members, is critical to the governance of this metaverse. They premium loyalty, openness, and community interaction to ensure the platform’s success and long-term viability.
The vision in which people have complete ownership over their digital assets, including the ability to create their own unique characters, purchase and develop virtual land, and genuinely own what they own in the digital domain, has become a reality with the Decentraland #crypto .
In the latest updates from September, Decentraland has shown resilience by defending the $0.28 price level. The consistent protection of the $0.280 support level has instilled hope and excitement among investors anticipating significant growth and potential value appreciation.
Pomerdoge (POMD): A Meme Coin Opportunity Worth Considering Ahead of Decentraland
Pomerdoge (POMD) distinguishes itself from other meme coins by telling its own story through a play-to-earn (P2E) system and an interactive game called Pomergame. POMD coin is a promising new cryptocurrency with numerous advantages to prospective investors.
The ecosystem of Pomerdoge also includes a marketplace and NFTs collection, which increases its appeal as an investment choice. Considering the current low price, buying now could put you in a position to profit from potential growth patterns later on.
Now its price is $0.0165. Pomerdoge (POMD) is an outstanding early investment opportunity with an experienced staff dedicated to its development. Analysts predict that POMD will increase by 3,500% before the end of the year, making it an excellent investment for your #cryptocurrency portfolio.
POMD Presale investors can get a share of the money generated by the game proportional to the number of tokens they own. In addition, Pomerdoge is considered one of the safest presale projects as the liquidity will be permanently locked in the ecosystem, preventing a rug pull event. #opbnb #crypto2023

#Layer2 Khám phá cách các chỉ số margin và tùy chọn gợi ý về con đường của Bitcoin tới $28,000 giữa cuộc chiến pháp lý với Binance.
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PHÂN TÍCH THỊ TRƯỜNG
Cuộc chiến pháp lý đang diễn ra giữa sàn giao dịch tiền điện tử Binance và Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC) đã có một bước ngoặt bất ngờ vào ngày 18 tháng 9.
Thẩm phán Zia M. Faruqui đã từ chối yêu cầu của SEC về quyền truy cập vào hệ thống của Binance.US. Thay vào đó, Thẩm phán Liên bang gợi ý rằng SEC nên xây dựng các yêu cầu khám phá cụ thể.
Mặc dù quyết định này chỉ tạm thời trì hoãn nhu cầu cho Binance chứng minh sự tách biệt giữa giải pháp lưu ký của Binance.US và Binance Quốc tế, thị trường đã phản ứng tích cực.

#Layer2 AUD/USD giảm một bước và xóa bỏ những điểm tăng của thứ Tư để giao dịch trong khu vực dưới 0.6450 trước khi bước vào thứ Năm.
Đồng Úc đã tăng giá ổn định trong suốt cả ngày trước khi có quyết định lãi suất của Fed.
Cục Dự trữ Liên bang giữ lãi suất ổn định, nhưng nâng cao triển vọng trong tương lai.
AUD/USD đã giảm mạnh sau khi Cục Dự trữ Liên bang (Fed) đưa ra quyết định lãi suất giữ nguyên ở mức 5.5%.
Đồng Greenback (USD) đã tăng giá trên toàn bộ thị trường và cặp AUD-USD đã giảm trên biểu đồ, kết thúc thứ Tư dưới mức khởi đầu. Fed đã điều chỉnh dự báo lãi suất của họ, với Ủy ban Thị trường Mở Liên bang (FOMC) dự kiến lãi suất sẽ ở mức 5.1% vào cuối năm 2024, cao hơn nửa phần trăm so với dự báo trước đó là 4.6%.

#Layer2 UAE-headquartered RAKBANK (National Bank of Ras Al Khaimah) mentions US fintech decacorn in its comprehensive thesis on social aspects of Web3
RAKBANK, one of the largest and most technically advanced banks of UAE and a Ripple partner since 2018, introduced an entirely new way for fintechs to make a positive social impact. The company prioritizes both social and environmental "pillars" of its sustainability agenda.
Ripple's UAE partner RAKBANK changes game in sustainable development: Introducing Social Finance framework
RAKBANK, the National Bank of Ras Al Khaimah, published a Social Finance Framework thesis to cover its strategy regarding public goods, sustainability and eco-friendliness agenda. This massive document envisages the ways modern banking entities can support crucial social developments in the long run.
RAKBANK launches its Social Finance Framework, a step towards fostering a sustainable future.
This initiative aligns with our commitment to environmental, social, and governance (ESG) principles.
Know More: https://t.co/ZyDgAxMVC8#RAKBANK #Simplybetter #Sustainability pic.twitter.com/5nuPRLo1m0
— RAKBANK (@RAKBANKlive) September 22, 2023
RAKBANK's strategy includes environmental, social and governance road maps. The environmental track is focused on managing the bank's carbon footprint and supporting sustainable eco-friendly financial solutions.
The social road map includes supporting small and middle entrepreneurs to grow the business, fostering financial inclusion and literacy with a stressed focus on underbanked segments of audience. Also, RAKBANK highlighted the importance of providing assistance to volunteer communities.
Ripple Inc. is mentioned as one of the partners of RAKBANK's social efforts:
This instant remittance service, powered by RAKBANK in collaboration with Ripple, leverages blockchain technology to mitigate cash vulnerability and enhance access to banking services. By utilizing this innovative solution, RAKBANK improves the speed, efficiency, and security of cross-border remittances, facilitating seamless financial transactions for its customers
Last but not least, the governance track includes incorporating ESG Criteria into RAKBANK's Balanced Scorecard (which will be added as soon as this year) and establishing clear ESG Governance within the entity.
Web3 bets big on ESG-centric concepts
As a result of this complex road map, the company is going to accomplish a sustainability status aligned with the United Nations' Sustainable Development Goals and the Global Reporting Initiative.
In the last months, a number of blockchain heavyweights released documents focused on integration of ESG elements into tech development and marketing strategies. For instance, BlackRock, one of the largest asset management firms in the U.S., reaffirms its commitment to ESG-centric #bitcoin (#BTC ) mining.
Also, EOS Network is going to offset its carbon footprint by 3x: As per the new road map developed together with Aerial and Upland, the platform will offset three times more carbon credits than it spends.#crypto2023 #opbnb