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The latest performance report highlights significant variances across sectors, with PCB leading at 11.39% and consumer goods at 7.78%. In contrast, the automotive sector and telecoms show declines of -1.97% and -2.22%, respectively, while pharmaceuticals and energy face steep drops of -14.46% and -32.22%. In the banking sector, Commerzbank is rated positively, while Deutsche Bank is under observation due to high volatility. Year-to-date, Erste Group has surged by 60.3%, contrasting sharply with Sberbank's staggering -72.73% decline.
MiCA-compliant stablecoins are rapidly gaining market share in Europe, with euro-denominated trading volumes consistently surpassing 2023 averages, peaking at over $42 billion monthly. Despite Tether discontinuing its euro-pegged stablecoin, euro-backed stablecoins like Circle’s EURC and Societe Generale’s EURCV collectively held 91% of the market by November 2024. Binance has emerged as a key player, nearly matching Coinbase's market share after listing EURI.
Ethereum's price could surge to $8,800, driven by increased banking integration and robust network growth, with a notable 71.5% rise in 2024. Recent data shows a spike in new wallet creations and active addresses, alongside significant ETH outflows from exchanges, indicating strong investor interest. Institutional adoption is also on the rise, highlighted by major firms launching Ethereum-related services and products, further solidifying its role in the financial sector.
Bitpanda has secured in-principle approval from the Virtual Asset Regulatory Authority (VARA) to expand into the UAE, positioning Dubai as a strategic hub for its international growth. The approval indicates compliance with regulatory standards, although further conditions must be met for full operational licensing. Additionally, Bitpanda has partnered with Societe Generale to promote the adoption of its euro-denominated stablecoin, EUR CoinVertible, as a key element of global finance.
Societe Generale has successfully completed its first repo transaction on a public blockchain. In a significant development, MarketAxess’ Axess IQ now integrates with UBS Bond Port, allowing users to route orders directly to UBS with a single click, enhancing liquidity and workflow efficiency. This collaboration enables traders to manage orders seamlessly while accessing multiple trading protocols and liquidity pools.
Societe Generale has completed a groundbreaking tokenized bond transaction on the Ethereum blockchain, marking the first repurchase agreement executed with a Eurosystem central bank. The bonds, issued in 2020, were used as collateral for a central bank digital currency from Banque de France, showcasing the potential of blockchain technology in enhancing liquidity for digital financial securities. This transaction demonstrates the feasibility of conducting interbank refinancing operations directly on the blockchain.
Societe Generale has successfully executed the first blockchain-based repo transaction within the Eurosystem, collaborating with the Banque de France through its digital assets subsidiary, Forge. This transaction utilized tokenized bonds as collateral and involved the exchange of central bank digital currency (CBDC) as cash, showcasing the potential of CBDCs to enhance liquidity in digital financial securities. The Banque de France has been exploring CBDC applications since 2021, including cross-border projects and partnerships with major banks.
Bitcoin (BTC) experienced a volatile week, reaching an intraday high of $102,500 before settling at $99,750 amid selling pressure. Meanwhile, Ethereum (ETH) is on the verge of surpassing $4,000, with analysts predicting it could exceed $5,000 by 2025. In regulatory news, a Japanese lawmaker has proposed creating a national Bitcoin reserve, echoing similar initiatives in other countries.
DBS Group Holdings has expanded its wealth management team to attract wealthy Russians, hiring two private bankers recently, despite many global banks retreating due to sanction risks. The Singapore lender now has at least nine Russian-speaking bankers and aims to double its wealth management fees by 2027, offering services to clients with a minimum of $20 million in assets. While it conducts rigorous risk assessments to ensure compliance with sanctions, DBS emphasizes that it does not specifically target Russian clients.
Investors are increasingly turning to South Africa as a stable option amid the uncertainties of the Trump administration. Major financial institutions, including Goldman Sachs and Societe Generale, predict that the country's currency, stocks, and bonds may outperform other emerging markets in 2025, offering a buffer against global economic turbulence. South Africa is viewed as relatively insulated from the potential shocks of U.S. policies.
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