CHINA TO KICKOFF CRYPTO SUPERCYCLE! SOLANA JPMORGAN ATOMIC SETTLEMENT & SUI GOOGLE AI AGENTS!

Tony Edward (0:05)

Hey, folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five-star rating. All right, folks, we have huge news about China and crypto. And that's not hyperbole, folks. It's pretty massive. So former UBS Asia Investment Banking Head Joseph Chee says China will eventually reopen access to crypto and trigger a new super cycle.

He mentioned what I've been seeing for years, that China is using Hong Kong as a testing ground. How many times have I said that on the podcast? China has complete control over Hong Kong, and they're allowing Hong Kong to launch crypto ETFs, offer crypto financial services, and much more. In fact, Hong Kong is seen as a major financial hub, not just for traditional finance, but also crypto. There are a lot of crypto companies and funds there. So as I've been saying for years, that eventually I believe they're going to open up ETF investing to mainland China citizens, because one of the concerns China has is capital flight. But if you put it in an ETF wrapper, kind of like what we have here in the United States, if you do decide to pull out your funds and move it overseas or whatever it may be, it's all recorded because it's in a regulated wrapper, right? So this is very interesting. Let me play the clip for you.

SPEAKER_2 (1:32)

You've talked about this. In fact, you told the Journal that China will inevitably find a way to manage and reopen crypto activity. You're the former head of Asia Investment Banking for UBS. What specific discussions or back channel negotiations or regulatory shifts are you seeing out of Beijing that perhaps the market is missing?

Joseph Chee (1:57)

I could only say this.

The Chinese government is watching the technology is developing very, very closely. Think tanks and groups of people, including academia's, who are very familiar with the development of technology. Obviously, China has its concerns, about how technology will be used in that country.

The country still have capital control and a lot of other rules. They are very worried about the modern pubs being ripped off by new technology, which proven to be the case many, many times over and over again in the past. But they know that's not technology they can ignore. They are using Hong Kong as the region to test how the technology will be implemented and going to find ways to manage it. I think what's in Korea, if you look at the Korean market, they manage the crypto currency trading very well and contain with the country. And you get on-RAM and off-RAM in Korean won. And then it seems like they have it under control.

SPEAKER_2 (3:19)

And if China does reopen the gates, what's the size of the opportunity of the addressable market there for HSD2?

Joseph Chee (3:25)

I think if you look, I think for blockchain and cryptos, it started off with the Asian population being bigger than the rest of the population as users of crypto and traders of cryptos. And then because of China climbing down on crypto, that's a slowdown, right? I think the US market picked up. But when the Chinese government find a way to manage this and allow access to trading crypto and allow the technology to be used by various companies, a Chinese company or cross border trade, I think the crypto is going to go through another super cycle.

Tony Edward (4:03)

Huge statements, folks. So clearly he stated crypto is going to go in another super cycle because opening it up into mainland China, guys, you're going to have a lot of capital come in and a lot of users already having the infrastructure with smartphones. We know China already has its digital yuan in place. So the investors and the users will be much more sophisticated because you're used to everything being digital for the most part. Right. So this is going to be a massive market. And of course, China recognizes that this is a global competition and they don't want to get left behind. The US has been rising. You have other Asian countries like South Korea and others that are rising in the ranks for crypto trading volume and adoption. So China sees this and they're going to want to win, right? Game theory is playing out here, guys. So I believe this is something that is ahead. It is not far fetched. It's not outlandish. Again, I've been saying this for years. My OG subscribers and listeners, you know this, right? I've said Hong Kong under control of China is a testing ground for what they're planning to do in mainland China. So massive news. Now, here's some more big news. South Africa's First National Bank launches crypto trading for nearly 9 million customers. The following cryptocurrencies can now be traded. XRP, USDT, Stablecoin, Solana, Bitcoin and Ethereum.