mBridge gets complicated

plus, yay BTC, conflicting rates messages, and the 1960s

“The lesson is that no amount of sophisticated statistical analysis is a match for the historical experience that ‘stuff happens’.” – Mervyn King  ||

Hi everyone, I hope you’re all doing well! Is it just me, or are things starting to feel a bit crazy?

Below, I take a look at signs of some cracks in the mBridge project. There’s also a (very!) brief comment on the BTC price, and on the conflicting market message on rates.

Programming note: it’s a holiday here on Friday (All Saints’ Day), so this newsletter will be taking a break.

IN THIS NEWSLETTER:

• mBridge gets complicated

• Crypto on the move

• Conflicting messages on rates

If you’re not a premium subscriber, I hope you’ll consider becoming one!

WHAT I’M WATCHING:

mBridge gets complicated

Almost a year ago, I profiled a likely competitor to SWIFT, the global messaging platform that is behind most payments. What’s more, it was a competitor born in the cradle of the BIS, the central banks’ central bank, which means this “alternative” came embedded with institutional credibility. It’s time for an update, because the plot line is taking a few twists I didn’t expect. But in retrospect, I should have.