Bitcoin (BTC) has broken past the $73,000 mark, reaching close to its all-time high. With projections hinting at a climb toward $150,000 by 2025, the cryptocurrency market is buzzing with excitement as the post-halving bull market unfolds. Analysts believe Bitcoin’s potential peak could be reached due to factors such as liquidity expansion, increased institutional adoption, and favorable macroeconomic conditions. The latest rally has sparked hope for the future, with market watchers confident in the upside potential over the next 18 months.

Institutional Momentum in Bitcoin’s Bull Market

According to Peter Chung, Head of Research at Presto Labs, the market environment for Bitcoin is in a “constructive phase.” This optimism is supported by three main pillars: global liquidity, regulatory openness, and low investor expectations. Chung explained that key global economies, accounting for a majority of the world’s money supply, are favoring liquidity growth, with the U.S., China, and the EU in alignment on policy.

“The current liquidity bias among these economies sets up a favorable backdrop for Bitcoin,” Chung noted, adding that the upcoming U.S. election could further boost investor confidence regardless of the outcome. These conditions have allowed Bitcoin to rise steadily and could pave the way for a $100,000 level by 2025, with a potential top of $150,000 if momentum holds.

Regulatory Tailwinds and ETF Expansion

Bitcoin’s bull market is being fueled by a wave of institutional interest, amplified by the introduction of Bitcoin Exchange-Traded Funds (ETFs). With major financial players like BlackRock (NYSE:BLK) and Franklin Templeton embracing tokenization and stablecoin integrations, more institutions are exploring ways to integrate digital assets into their offerings. The regulatory landscape, which has seen a rise in compliant and well-structured crypto financial products, has created a path for institutional investors to participate more actively in the space.

Chung defines “institutional adoption” as regulated institutions incorporating Bitcoin and blockchain technologies into their primary services. This shift is evident through ETF growth and the entry of traditional financial custodians, which adds legitimacy and increases the appeal of digital assets.

“Financial custodians like BlackRock are setting a standard, helping lower the psychological barrier for institutional entry,” Chung noted. He believes that a gradual increase in trusted custodians will enhance mainstream adoption, further driving Bitcoin’s legitimacy and stability in the financial landscape.

Long-Term Bitcoin Price Outlook and Market Drivers

Chung remains optimistic about Bitcoin’s price trajectory, highlighting the impact of demand-driven growth and the decreasing influence of the four-year halving cycle. Unlike past market cycles, where halving events spurred supply scarcity, the current bull run leans more on growing demand from institutional investors and a broader adoption of blockchain technology.

“Today’s growth is more demand-based, with institutional adoption providing stability and sustained interest,” Chung said. He also believes stablecoins, such as Tether (USDT), serve as a bridge between fiat and crypto, helping to normalize blockchain as a transaction medium. Stablecoin adoption exemplifies the demand for a frictionless, global currency—an element critical to Bitcoin’s larger adoption.

Adoption and the Future of Bitcoin’s Bull Cycle

The 2024-2025 Bitcoin bull market has captured attention as traditional finance (TradFi) firms like Visa (NYSE:V) and PayPal (NASDAQ:PYPL) integrate stablecoins into their payment ecosystems. As these institutions innovate with tokenization, the possibilities for mass adoption grow stronger. Chung underscores that TradFi participation could lead to unprecedented demand for Bitcoin as both a store of value and an investment asset.

“TradFi’s involvement is about more than experimentation—it’s the real adoption of blockchain technology in mainstream finance,” Chung said. He cited tokenization of assets by BlackRock and Franklin Templeton as an indication that financial institutions see value in blockchain’s efficiency and security.

As 2025 approaches, the question is whether Bitcoin can sustain its upward momentum in the face of potential regulatory changes and market volatility. Analysts remain hopeful, with projections pointing toward continued growth. Chung suggests that while a future bear market may follow, the fundamental adoption trends are likely to stabilize Bitcoin’s price cycle and provide a steady growth path.

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DUBAI, UAE, Oct. 29, 2024 /PRNewswire/ — OKX, a leading cryptocurrency exchange and global onchain technology company, today announced the appointment of Standard Chartered, a leading international cross-border bank connecting the world’s most dynamic markets, as a third-party crypto custodian for its global institutional business.

The custody agreement with Standard Chartered is a significant addition to OKX’s comprehensive suite of institutional services, which includes advanced trading capabilities, robust risk management tools and enhanced custody solutions. By leveraging Standard Chartered’s extensive global banking expertise and rigorous risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.

OKX Global Chief Commercial Officer Lennix Lai said: “We selected Standard Chartered as an institutional custodian partner to enhance our offering and accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s extensive global banking expertise and unwavering commitment to security aligns with our objective to provide exceptional crypto services and reinforces the confidence of our institutional clients in managing their digital assets.”

Standard Chartered Global Head of Financing & Securities Services Margaret Harwood-Jones said “We are committed to offering custodial services that meet the highest standards of safety and compliance. Serving as OKX’s third-party custodian allows us to extend our expertise into the evolving cryptocurrency sector, providing institutional investors with the assurance they require.”

This collaboration is expected to attract increased institutional participation in the digital asset market, contributing to a more mature environment for institutions globally. It aligns with the findings of a recently published OKX-commissioned research brief authored by Economist Impact, entitled “Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges,” which highlights institutional investors’ view that digital assets are an inevitable institutional opportunity. The report also finds that 80% of traditional and crypto hedge funds utilizing digital assets employ third-party custodians, highlighting strong demand for segregation of duties related to trade execution and asset custody.

— ENDS —

For further information, please contact:
Media@okx.com 

Wasim Benkhadra
Global Communications Lead, Corporate & Investment Banking (CIB)
Head of Communications, UAE, ME & Pakistan and Africa
Standard Chartered
+9714 5083221
wasim.benkhadra@sc.com 

Or

Kate Matthews
Communications Director, Europe
Standard Chartered
+44 20 7885 7899
kate.matthews@sc.com

About OKX Institutional

OKX Institutional is a global leader trusted by international firms and counterparties, and provides a powerful suite of institutional crypto trading solutions such as an on-demand OTC liquidity network, structured products and managed accounts. OKX infrastructure is built for institutional traders, with unified account systems, integration with leading custodians and low-latency APIs.

With industry leading monthly Proof-of-Reserves and trading volumes, deep liquidity, and 99.99% uptime, OKX combines top-tier security with speed and reliability. It offers access to over 700 spot trading pairs, 280+ derivatives instruments, and up to 125x leverage on leading futures contracts.

To learn more about OKX Institutional, visit: okx.com/institutions or contact institutional@okx.com to accelerate your institutional crypto trading objectives.

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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HONG KONG, Oct. 28, 2024 /PRNewswire/ — RD InnoTech Limited (RD InnoTech), a subsidiary of RD Technologies Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has focused on ensuring HKDR complies with rigorous regulatory standards while preparing for seamless market entry to support international payments and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, establishing a crucial framework for future compliant operations.

RD InnoTech plans to roll out its HKDR stablecoin on Ethereum in the future. RD InnoTech has selected Ethereum for its strong global liquidity and established ecosystem, proven stability, and secure, decentralized infrastructure—ensuring reliable, large-scale financial operations.

Hash Blockchain Limited (HashKey Exchange) Partnership: Driving Growth and Market Access

RD InnoTech plans to launch on Hashkey Exchange, the largest^* licensed virtual asset trading platform approved by the Hong Kong Securities and Futures Commission (SFC), marking a pivotal step towards realizing its vision of enabling seamless, more efficient and compliant global payments through stablecoin integration.

Ms. Rita Liu, CEO of RD Technologies Group, highlights the strategic value of working with HashKey Exchange:“We are very excited to be working with  HashKey Exchange because they bring critical components we need to launch HKDR successfully: regulatory credibility, vast institutional relationships, and deep liquidity. Their compliance with Hong Kong’s VATP regulatory regime reinforces trust with partners and regulators.”

Ms. Rita Liu adds that Hong Kong’s role as a gateway between East and West strengthens stablecoins’ potential for capturing Asia’s growing demand in leveraging stablecoins for facilitating cross-border trade and payments: “Stablecoins can eliminate friction in global transactions by synchronizing information and asset flows. We are building a compliant, stable digital currency that unlocks speed and affordability for businesses across borders.”

“We are excited to make a significant breakthrough in the Hong Kong stablecoin market and the global cross-border payment sector through our close collaboration with RD InnoTech. HKDR will not only lower transaction costs but also improve the efficiency of fund flows, providing global enterprises with a compliant and stable currency. This initiative will greatly enhance global trade and strengthen financial connectivity. As the largest licensed virtual asset exchange in Hong Kong, HashKey Exchange is fully committed to supporting this innovation, ensuring that professional investors can easily access this compliant stablecoin, backed 1:1 by the Hong Kong dollar^{^}. Moving forward, HashKey Exchange will act as the ‘nerve center’ to continuously drive the development of compliant stablecoin operations,” said Mr. Livio WENG, CEO of HashKey Exchange.

By combining regulatory rigor, strategic partnerships, and blockchain innovation, RD InnoTech aims to position HKDR as a key enabler of the future global payment landscape. The partnership with HashKey represents a critical step toward this goal, aligning with Hong Kong’s ambition to become a global digital asset hub and setting the foundation for stablecoin adoption across Asia and beyond.

About RD Technologies Group:

RD Technologies Group (RD Technologies) is the financial platform that bridges the Web2 and Web3 worlds. It deploys innovative fintech to build a business world interconnected by trust. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group

Secure and innovative solutions managed by subsidiaries under RD Technologies include:

• RD Wallet:
  RD Wallet Technologies Limited (RD Wallet) is a licensed Stored Value Facility in Hong Kong (licence number: SVF0016). It enables global businesses to open multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet is committed to facilitating cross-border trade and payments through efficient, secure, and innovative payment solutions for businesses, and contributing to the development of Hong Kong as a trade and financial hub in Asia. For details about RD Wallet: https://rd.group/products/wallet/
  For media inquiries, please contact:  lucy.long@rd.group 
  
• HKDR Stablecoin (HKDR):
  HKDR Stablecoin (HKDR) is a trusted and transparent Hong Kong Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through regular independent attestation reports.  In July 2024, RD InnoTech Limited, the issuer of HKDR, was among the first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Monetary Authority.  RD InnoTech Limited will abide stringently by the regulatory requirements for the launch of HKDR to contribute to the continuous development of Hong Kong as a global Web3 and virtual asset hub. For details about HKDR: https://rd.group/hkdr

^*Note: As of October 20, 2024, HashKey Exchange ranking 9th on CoinGecko’s global exchange list, making it the largest licensed virtual asset exchange in Hong Kong.

^{^}Referenced from the HKDR official website introduction.

About HashKey Exchange

HashKey Exchange is committed to setting new benchmarks for virtual asset exchanges in terms of compliance, fund security, and platform safety. HashKey Exchange is one of the first licensed retail virtual asset exchanges in Hong Kong. It has been approved by the Securities and Futures Commission (SFC) and holds licenses for type 1 (securities trading) and type 7 (providing automated trading services) under the Securities and Futures Ordinance, as well as operating a virtual asset trading platform under the Anti-Money Laundering Ordinance, operating a virtual asset trading platform in compliance. As the flagship business of HashKey Group, HashKey Exchange provides one-stop virtual asset trading services for professional investors (PI) and retail investors. HashKey Exchange has obtained ISO 27001 (information security) and ISO 27701 (data privacy) management system certifications. 

HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations.

Information may become outdated, due to new plans, regulations, or market changes.

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SOURCE RD Technologies Group

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SINGAPORE, Oct. 25, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (“WSPN”), a leading digital payments and the issuer of Worldwide USD (“WUSD”), today announced the appointment of Austin Campbell as CEO of WSPN US. Mr. Campbell brings extensive experience in stablecoin markets and digital asset strategy to his new role, including running stable value products at JPM and Citi, managing reserves and risk for the Paxos stablecoins (BUSD, USDP), and having helped to design PYUSD. This appointment signals WSPN’s commitment to building first class financial products and revolutionizing the world of payments with its “Stablecoin 2.0” vision to deliver faster, cheaper, and safer transactions for all.

Building on his significant contributions as Head of Strategy, where he was instrumental in shaping WSPN’s strategic roadmap and identifying new market opportunities for WUSD, Mr. Campbell will now lead the effort in bringing this vision to the US market and beyond. His primary focus will be on:

• Driving the adoption of WUSD: Leveraging his deep understanding of the stablecoin ecosystem, Mr. Campbell will lead initiatives to establish WUSD as a leading solution for businesses globally.
• Leading treasury and risk management: Mr. Campbell will leverage his expertise to ensure the stability and security of WUSD, building trust and confidence among users and partners on a global scale.
• Building a world-class user experience: Mr. Campbell will oversee the development of user-friendly products and services that simplify the use of stablecoins for everyday transactions, regardless of location.
• Fostering strategic partnerships: Mr. Campbell will cultivate relationships with key players in the financial and technology sectors worldwide to expand WUSD’s reach and impact.

“I am incredibly excited to become the CEO of WSPN US,” said Mr. Campbell. “Stablecoins are key to improving the global financial system. We intend to build the best products for consumers and end users, creating a fair system where people control their own money and have global access to dollars. Our goal is to bring world-class user experience to stablecoins, where many users making payments in dollars won’t even have to think about the fact that they’re using blockchain technology. With WSPN, we’re committed to building a better economic model that fosters a virtuous cycle of adoption, benefiting the entire ecosystem.”

Prior to joining WSPN, Mr. Campbell was the founder and managing partner at Zero Knowledge Consulting, advising on market structure and risk management within the crypto ecosystem. Additionally, he is also an adjunct professor at New York University Stern School of Business, educating the next generation of Web3 leaders. His previous experience, including Paxos, Citi, and JP Morgan, coupled with his thought leadership in stablecoin mechanics, uniquely positions him to lead WSPN US towards a future powered by accessible and equitable financial solutions.

“Austin’s expertise and vision have been instrumental in shaping WSPN’s strategic direction,” said Raymond Yuan, Founder and CEO of WSPN. “We are confident that under his leadership, WSPN US will play a crucial role in driving the mass adoption of stablecoins and transforming the financial landscape for the better.”

****END****

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users.  WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

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LOS ANGELES, Oct. 25, 2024 /PRNewswire/ — Yesterday, in Los Angeles, Lightspark hosted its first Partner Summit—Lightspark Sync.

Lightspark announced:

• Two new foundational capabilities for UMA – UMA Auth and UMA Request
• One Lightspark product update – Lightspark Extend for UMA
• Spark: A new open-source Bitcoin Layer 2, Lightning-compatible solution for stablecoins and self-custodial wallets

Lightspark is building the fastest global open payment network on Bitcoin. Their products simplify, streamline, and modernize the flow of global payments, whether using fiat currencies, stablecoins, or bitcoin.

Exciting updates for the Universal Money Address (UMA). UMA is an open-source messaging standard built on LNURL. Think of it as email but for money. It’s a solution that enables transactions in fiat currency, stablecoin, or form of value that any human, business, or AI agent needs to move or exchange in real-time.

By the end of 2024, Lightspark estimates their partners will unlock UMA for nearly 300 million customers in 140 countries and 100 currencies.

UMA Auth is like OAuth for money. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

It’s an open standard built on Nostr Wallet Connect that enables UMA-enabled wallets to delegate the push and pull of money with limits set by the user. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

Even in today’s digital economy, payments on commerce platforms, content services, and messaging applications are challenging. Payment integrations can be complicated, taking up valuable development time and resources that can be used elsewhere. High transaction fees can eat into profits, and slow settlement times frustrate users and create risk. International payments add another level of complexity. These problems have been holding businesses back for far too long. UMA Auth solves many of these problems while providing users with easy linking to their existing financial apps and wallets.

At its core, UMA Auth is a two-way connection between platforms and their users’ UMA-enabled wallets.  It takes the great features of OAuth and applies them to the world of UMA payments, making secure authorization easier. Now, users can log in to their wallets and authorize UMA payments using familiar set-up experiences. Users can control what applications can access their wallets, specify permitted actions, and set spending limits for each application.  The potential use cases are far-reaching – UMA Auth enables bank accounts or wallets to be connected to messaging and email apps; for example, users can make payments to content creators (no matter where they are) with live tipping or recurring payments and subscriptions. Like Oauth, UMA Auth does not require platform partners to be in the flow of funds but, instead provides a seamless payment experience for users with the UMA-enabled wallet of their choice.

UMA Auth is built using Nostr Wallet Connect, a secure, open protocol that’s gained significant traction in the Nostr and Lightning communities and simplifies connecting wallets to apps. Lightspark worked with the Nostr community and the team at Alby to build on the protocol, extending Nostr Wallet Connect to support UMA features. Some new key enhancements Lightspark has proposed are cross-currency support and client app registration.

UMA Auth brings a new level of innovation to Lightning, making payments more open, interoperable, and user-friendly. It’s a big step forward in building a payment ecosystem that puts users first and opens up many possibilities for peer-to-peer transactions. Lightspark released SDKs that make it incredibly easy for businesses to integrate UMA Auth into their applications.

UMA Request. Built for UMA, this will allow any business or UMA-enabled wallet to request a payment from another wallet on the network. UMA invoices and payment requests will transform transactions for both businesses and individuals. Merchants or service providers can now quickly request customer payments by creating a one-time invoice for a product or service. This invoice can be paid multiple times, making it incredibly flexible for the business and the end users. One of the standout features of this system is that it provides proof of payment, ensuring that both parties have a clear record of the transaction. UMA Request is versatile enough to handle a variety of use cases. Whether requesting payments from friends for a shared expense, managing merchant checkouts, or handling bills from service providers, UMA Request provides a simple and effective way to facilitate transactions across different scenarios.

Lightspark Extend This is a significant step forward, enabling Lightning payouts to bank accounts over domestic payment rails. It reduces transaction times and costs and simplifies payments. Companies can pay out users at their preferred endpoints with instant, seamless fiat currency transfers from local bank accounts to any eligible account in the user’s chosen currency. In the United States, users can instantly receive USD from a Real-Time Payments-enabled local bank account. Lightspark Extend for the US and Mexico will be available by the end of the year, and Brazil will quickly follow. Lightspark Extend offers competitive pricing and unparalleled efficiency for businesses and individuals to send payments, ensuring that moving funds is faster and more cost-effective than ever.

INTRODUCING SPARK –
A SOLUTION FOR STABLECOINS AND SELF-CUSTODY ON BITCOIN
Lightspark believes the future of payments must be on the most open, neutral, and decentralized network and should also enable all use cases – from non-custodial wallets to stablecoins. Spark is a new, payments-focused, high-performance, open-source, scaleable Bitcoin Layer 2. It extends Bitcoin and Lightning and enables self-custodial wallets to send and receive real-time payments at virtually no cost. Spark also supports tokens such as stablecoins, making it the most comprehensive open payment network built on Bitcoin.

Lightspark is committed to powering a new generation of payment solutions. Their products are built with regulated financial service firms in mind. They offer tools for direct, secure messaging between payment counterparties so that their partners can support a range of customer payment experiences and address risk management, AML/CFT, sanctions, travel rules, and other requirements.

Media Contact
press@lightspark.com

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SOURCE Lightspark

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