JPMorgan bɔ kɔkɔ sɛ ‘sikakorabea nhyehyɛe a ɛne no di nsɛ’ reba—na ebetumi de sika a wɔde asie ɔpepepem pii ato asiane mu

Sɛ JPMorgan CFO Jeremy Barnum bɔ kɔkɔ wɔ baguam wɔ "sikakorabea nhyehyɛe a ɛne ne ho di nsɛ" a ɛrehyehyɛ wɔ afasu a wɔahyɛ ho mmara akyi ho a, sikasɛm wiase no de wɔn adwene si so. Adwennwene no gyina stablecoins — dijitaal tokens pegged to fiat currencies — a ballooned akɔ $230 ɔpepepem gua na afi ase de mfɛntom-bea nneɛma a ɛte sɛ atetesɛm sikakorabea sikakorabea ahorow ma. Nsonsonoe a ɛwɔ mu no? Saa nnwinnade yi yɛ adwuma kɛse wɔ mmara nhyehyɛe a abɔ wɔn a wɔde sika sie ho ban fi bere a Okunkɛse no bae no akyi. Wɔ nnwuma a wɔrefa saa tebea a ɛresakra yi mu no, nea ɛkyerɛ no ntease nyɛ nea wobetumi apaw — ɛho hia sɛ wɔbɔ sika a ɛkɔ so no ho ban, di asiane ho dwuma, na wosi gyinae a ɛfata wɔ baabi a sika te ankasa ho.

Dɛn Pɛpɛɛpɛɛ ne "Parallel Banking System" yi?

Atetesɛm sikakorabea yɛ adwuma wɔ mmara kwan so asau a wɔanwene denneennen ase. FDIC na ɛma sika a wɔde asie no insurance a ɛkɔ soro kodu $250,000 wɔ akontaabu biara mu. Ɛsɛ sɛ sikakorabea ahorow kura sika kɛse a wɔde asie mu, de wɔn ho hyɛ adwennwen ho sɔhwɛ ahorow mu, na wodi nhyehyɛe ahorow a wɔde ko tia sika a wɔde di dwuma ɔkwammɔne so no akyi. Saa ahobanbɔ ahorow yi wɔ hɔ efisɛ abakɔsɛm daa no adi — yaw mu, mpɛn pii — sɛ awiei koraa no sikasɛm nhyehyɛe a wɔanhyɛ ho mmara no hwe ase na ɛde nnipa mpapahwekwa sika a wɔde asie no kɔ.

Stablecoins mfiase no hyɛn scene no mu sɛ nkitahodi nnwinnade a ɛnyɛ den — ɔkwan a wɔfa so de bo ntɛmntɛm fa crypto platforms so a Bitcoin anaa Ethereum mu nsakrae nni mu. Nanso gua no anya nkɔso. Issuers te sɛ Tether ne Circle mprempren hwɛ agyapade a ɛboro $160 ɔpepepem a wɔaka abom, na dodow a ɛrenya nkɔanim stablecoin nneɛma ma aba — ɔkwan a etu mpɔn a wotua mfɛntom ma wɔn a wɔwɔ. Sɛ dijitaal token kura wo sika, tua wo mfɛntom wɔ ho, na wotumi de di dwuma anaasɛ wɔde kɔ baabi foforo sɛnea wopɛ a, ɛkame ayɛ sɛ nsonsonoe a ɛda saa token no ne sikakorabea a wode asie ntam wɔ adwumayɛ mu no so tew ma ɛnyɛ hwee.

Nsonsonoeɛ a ɛho hia, sɛdeɛ Barnum kyerɛ no, ne sɛ wɔn a wɔwɔ stablecoin no nni ahobanbɔ a sikakorabea a wɔde sika gu mu no nya no mu biara. Insurance a wɔde sie biara nni hɔ. No boseabɔfo a ɔyɛ ɔkwan a etwa to. Ahwehwɛde biara nni hɔ a ɛfa nea ɛfoa token no akyi ho a wɔda no adi a wɔahyɛ da ayɛ. Eyi nyɛ nsusuwii mu dadwen — bere a TerraUSD hwee ase wɔ May 2022 mu no, dɔla ɔpepepem 40 bo a ɛyɛ hyew wɔ nna mu, na wɔn a wokura no nni ɔkwan biara a wɔbɛfa so ayɛ saa.

Ahunahuna a ɛwɔ Amanneɛ kwan so Sikakorabea

U.S., na ɛwɔ hɔ. aguadi sikakorabea ahorow kura sika a wɔde asie bɛyɛ dɔla ɔpepepem 17.4. Saa sika no a wotu kɔ stablecoin nneɛma so kakraa bi mpo betumi ama nhyehyɛe no ayɛ basaa. Susuw ho sɛ sika a wɔde di gua wɔ sikakorabea — a ɛno nso ne sikakorabea sika a wɔde sie di akan — kura bɛyɛ dɔla ɔpepepem 6.3. Stablecoins da so ara sua sɛ wɔde toto ho a, nanso wɔn nkɔso kwan no yɛ mmepɔwmmepɔw. Stablecoin gua no nyaa nkɔanim 48% wɔ afe 2024 nkutoo mu, na mmarahyɛ bagua ho nyansahyɛ ahorow a ɛwɔ Congress no betumi ama wɔagye atom ntɛmntɛm bio denam mmara kwan a ɛda adi pefee a wɔbɛma wɔn a wɔde ma no so.

Wɔ sikakorabea nketewa ne akɛse mu titiriw no, akontaabu no yɛ hu. Saa ahyehyɛde ahorow yi de wɔn ho to sika a wɔde asie so kɛse de tua boseabɔ ho ka — adan ho boseabɔ, nnwuma nketewa boseabɔ, aguadidan ahorow. Sɛ mpo 5-10% a wɔde asie no tu kɔ stablecoin platforms a ɛde akansi aba a, ripple nkɛntɛnso wɔ bosea a ɛwɔ hɔ no betumi ayɛ kɛse. Nnwumakuw a wɔde wɔn ho to mpɔtam hɔ sikakorabea abusuabɔ so ma boseabɔ kwan ne bosea a wɔde yɛ adwuma no bɛte nkɛntɛnso no nka tẽẽ.

Asiane ankasa nyɛ sɛ stablecoins besi sikakorabea ananmu anadwo biako — ɛyɛ sɛ wɔbɛyɛ komm siphon sika a wɔde asie wɔ akwan horow a ɛbɛsɛe boseabɔ tumi a nnwuma gyina so, a obiara renhu kosi sɛ bosea no mu bɛyɛ den.

Nea Enti a Ɛsɛ sɛ Nnwumayɛ Hwɛ Mprempren

Eyi nyɛ akyinnyegye a ɛfa mmarahyɛfo ne Wall Street mpanyimfo ho kɛkɛ. Sɛ woyɛ adwuma bi — sɛ́ woyɛ freelancer a ɔhwɛ invoices so, retail chain a ɛdi nnwuma mpempem pii ho dwuma, anaasɛ services firm a ɛdi adwumayɛfoɔ aduonum akatua ho dwuma — sikakorabea nhyehyɛeɛ no a ɛgyina pintinn no ka wo dwumadie tẽẽ. Boseabɔ ho gua a emu yɛ den kyerɛ sɛ ɛyɛ den sɛ wobenya bosea. Keteke a wɔde tua sika a asɛe no kyerɛ sɛ wɔbɛsiesie nneɛma brɛoo. Na sɛ stablecoin a woagye atom sɛ akatua hwere ne peg a, na wokura adehwere no.

Nkyerɛkyerɛmu a mfaso wɔ so no trɛw kɔ akyiri. Wɔn a wɔyɛ sikatua ho nhyehyɛe no reyɛ stablecoin akwan horow a wɔbɛpaw no abom kɛse. Nnwuma a ɛwɔ ahye so no de stablecoins redi dwuma de atwa wire transfer ho ka a ne bo yɛ den a wɔtaa tua $25-50 wɔ asɛm biara mu no ho. Adetɔnfo ne adwumayɛfo binom rebisa sɛ wontua sika wɔ stablecoins mu. Saa nsɛm a wɔde ka ho yi mu biara de gyinaesi bi ba: sikasɛm mu nnwinnade a wɔanhyɛ ho mmara a wobɛda no adi no dodow ahe na wogye tom ma w’adwuma?

Eyi nti pɛpɛɛpɛ na sɛ wowɔ visibility a wɔaboaboa ano wɔ wo sikasɛm mu dwumadi mu no ho hia sen bere biara. Nnwumakuw a wɔde nnwinnade a wɔakyekyɛ mu di dwuma — app biako a wɔde tua sika, foforo ma akatua, spreadsheet a wɔde hwehwɛ ɛka a wɔbɔ — no ntumi nsusuw asiane biako biara a wɔde wɔn ho ahyɛ mu nyinaa ho. Platforms te sɛ Mewayz a ɛka invoicing, payments, CRM, ne sikasɛm mu nhwehwɛmu bom yɛ no dashboard biako ma nnwuma wuranom tumi hu baabi pɔtee a sika rekɔ na wɔasi gyinae a ɛfata wɔ akwan a wɔfa so tua sika ne sikakorabea abusuabɔ a ɛsɛ sɛ wɔhwɛ so.

Mmarahyɛ Vacuum ne Nea Ebia Ɛhyɛ Mu ma

Congress ayɛ atwa stablecoin mmara ho ahyia mfe pii a enni fam. Clarity for Payment Stablecoins Act ne nsusuiɛ a ɛte saa ara afa boayikuo mu nanso ɛgyinaa hɔ mpɛn pii. Saa berɛ yi, EU kɔɔ n’anim wɔ ne Markets in Crypto-Assets (MiCA) mmara, a ɛfirii aseɛ yɛɛ adwuma koraa wɔ afe 2024 mu na ɛde reserve ahwehwɛdeɛ ne disclosure mmara to stablecoin issuers a wɔyɛ adwuma wɔ Europe.

U.S. mmara mu nsonsonoe no ma tebea a ɛnyɛ pɛpɛɛpɛ ba. Amerika nnwuma hyia ɔman no mmara ahorow ne aban akwankyerɛ ahorow a ɛnyɛ nea mmara mu tumi. Stablecoin issuers binom tintim wɔn reserves ho adansedie bosome biara — Circle, sɛ nhwɛsoɔ no, bɔ ne USDC akyigyina ho amanneɛ denam daa nnipa foforɔ nhwehwɛmu so — nanso yeinom yɛ wɔn pɛ mu nsɛm a wɔda no adi, ɛnyɛ mmara mu ahwehwɛdeɛ. Standardized stress test biara nni hɔ, liquidity buffer a ɛyɛ ahyɛde biara nni hɔ, na adwinnade biara nni hɔ a wɔde bɛma mframa-akɔ fam pɛpɛɛpɛ sɛ issuer bi di nkogu a.

Wɔ nnwuma a ɛyɛ adwuma wɔ amanaman ntam no, saa mpaapaemu yi de nsɛm foforo a ɛyɛ den ka ho. Adwumakuw bi a wɔde stablecoins di dwuma de tua ahye so sikatua ma Europafo a wɔde nneɛma ma no behia sɛ wɔfa MiCA ahwehwɛde ahorow ne U.S. nhyehyɛe biara a awiei koraa no ɛbɛba no nyinaa mu. Sɛ wobɛkɔ so ayɛ nhyehyɛe wɔ mmara tebea horow pii mu a, ɛhwehwɛ nhyehyɛe ahorow a ebetumi adi, akyekyɛ mu, na abɔ sikasɛm mu nkitahodi ho amanneɛ pɛpɛɛpɛ — tumi a ɛbɛyɛ den sɛ wɔbɛhwɛ so bere a adwumayɛ no kɛse.

Nea Smart Businesses Reyɛ de Asiesie

Nnwumakuw a wosusuw daakye ho no ntwɛn sɛ mmarahyɛfo besiesie eyi. Wɔretu anammɔn a mfaso wɔ so de adi asiane ho dwuma bere a wɔabue wɔn ani ama mfaso a ɛwɔ adwumayɛ mu a stablecoin mfiridwuma betumi de ama no. Akwan a etu mpɔn sen biara no wɔ asaawa biako: a wotumi hu, nneɛma ahorow, ne adwumayɛ mu nteɛso.

• Auditing payment channels: Mapping ɔkwan biara a sika fa so hyɛn adwuma no mu na ɛfiri mu — sikakorabea akontaabuo, payment processors, crypto wallets, stablecoin holdings — de te total exposure to any single point of failure ase.
• Anohyeto a wɔde bɛto hɔ a wɔde bɛto gua: Nhyehyɛeɛ a emu da hɔ a wɔde besi hɔ a ɛfa sika dodoɔ a wɔbɛtumi de asie wɔ stablecoins mu wɔ berɛ biara mu, ne nsakraeɛ a wɔde bɛkɔ fiat sika mu bere a wɔaboro ahwehwɛdeɛ no so.
• Sikakorabea abusuabɔ a wɔbɛma ayɛ ahorow: Akontaabu a wɔbɛhwɛ so wɔ asoɛe ahorow pii a FDIC ayɛ wɔn insurance no mu de ama sika a wɔde asie insurance no ayɛ kɛse na wɔatew asiane a ɛwɔ hɔ sɛ wɔde wɔn adwene si so no so.
• Sikasɛm ho amanneɛbɔ a wɔbɛhyɛ mu den: Nhyehyɛeɛ a ɛma wotumi hu sika gyinabea wɔ bere ankasa mu wɔ akontaabuo ne nnwinnadeɛ nyinaa mu, sene sɛ wɔde wɔn ho bɛto bosome awieeɛ mpata so.
• Mmara mu nkɔsoɔ a wɔbɛhwɛ so: Obi a wɔde bɛma — sɛ́ ɛyɛ emu mmaranimfo, CFO, anaa ɔfotufoɔ — sɛ ɔnni stablecoin mmara akyi na ɔnsusu adwumayɛ nkɛntɛnsoɔ ho berɛ a mmara rekɔ so.

Nnwinnadeɛ a ɛka sikasɛm mu dwumadie bom yɛ no adwene baako ma saa akwan yi yɛ adwuma yie koraa. Sɛ wo invoicing, ɛka a wobɛdi akyi, akatua, ne analytics nyinaa kɔ nhyehyɛe baako mu — sɛdeɛ wɔyɛ wɔ Mewayz 207-module business OS mu no — sɛ wobɛhunu anomalies ne asiane a wobɛdi ho dwuma abɛyɛ asɛm a ɛfa dashboard a wobɛhwɛ mu sene sɛ wobɛ cross-referencing application ahodoɔ anum.

Hokwan a Wɔde Ahintaw Wɔ Ɔhaw no Mu

Ɛbɛyɛ mfomso sɛ yɛbɛhyehyɛ eyi nyinaa sɛ ahunahuna. Stablecoins wɔ hɔ efisɛ atetesɛm sikakorabea wɔ sintɔ ankasa — bere a wɔde siesie nneɛma brɛoo, sika a wɔbɔ wɔ ahye so a ɛkɔ soro, nnɔnhwerew a wɔde yɛ adwuma a anohyeto wom, ne mpanyimfo a wobu akontaa sɛ ɔpepepem 1.4 wɔ wiase nyinaa a wɔda so ara nni sikakorabea no a wɔayi wɔn afi mu. Mfiridwuma no ankasa betumi adi ɔhaw ahorow ankasa ho dwuma. Asɛnnennen no ne sɛ wobɛkyekyere guardrails no ansa na nhyehyɛe no anyin dodo sɛ wɔbɛsan asiesie.

Nnwumakuw a wɔte asiane ne hokwan ahorow no nyinaa ase no bɛyɛ nea eye sen biara. Obi a ɔyɛ adwuma a ɔde ne ho wɔ Lagos a ɔregye sika afi obi a ɔde ne ho to so wɔ London hɔ denam USDC so no siesie ne ho wɔ simma kakraa bi mu sen nna pii na ɔkwati $40 wɔ waya ho ka mu. SaaS adwumakuw bi a wogye stablecoin sikatua betumi ama adetɔfo anya nsakrae pii bere a ɛtew asiane a ɛwɔ hɔ sɛ wɔbɛsan agye sika no so. Eyinom yɛ mfaso ankasa — nanso sɛ nnwinnade a ɛhyɛ ase no kɔ so gyina hɔ pintinn na adwuma no wɔ nhyehyɛe ahorow a wɔde bedi dwuma de ahwɛ nea ɛda adi no so nkutoo a.

Nnwumakuw a wodi yiye wɔ nsakrae bere mu no taa yɛ wɔn a wotumi hu adwumayɛ mu pefee sen biara. Wonim wɔn dodow wɔ bere ankasa mu. Wobetumi ayɛ nhwɛsode tebea horow — nea ɛba sɛ stablecoin X hwere ne peg, sɛ sikakorabea hokafo bi tighens credit, sɛ mmara foforo sesa payment flows. Saa ahokeka yi mfi ankorankoro mmɔdenbɔ a ɛyɛ akokoduru mu; ɛfiri sɛ wobɛnya infrastructure a ɛfata ansa na ɔhaw no aba.

Baabi a Eyi Fi Ha

Ɛnsɛ sɛ wɔte JPMorgan kɔkɔbɔ no ase sɛ ɛyɛ nkɔmhyɛ a ɛfa sɛnea ɛbɛhwe ase a ɛreba ho, na mmom sɛ ɛyɛ nhyehyɛe a wɔahwɛ. Sikasɛm nhyehyɛe no mu apaapae. Sikakorabea a wɔahyɛ ho mmara wɔ ɔfã biako, abɔde a nkwa wom nhyehyɛe a ɛrenya nkɔanim a ɛfa sikasɛm mu nnwuma a egyina stablecoin so wɔ ɔfã foforo. Ɛda adi sɛ abien no bɛtra faako mfe pii, ebia daa, a ɔhye a ɛda wɔn ntam no bɛsakra bere a mmara, mfiridwuma, ne gua so tumi ahorow di nkitaho no.

Wɔ nnwuma wuranom fam no, ade a wɔde kɔ baabiara a wobetumi de adi dwuma no yɛ tẽẽ: kyekye adwumayɛ nhyehyɛe a ɛma wuhu pefee ɛmfa ho ɔkwan a sikasɛm nhyehyɛe no fa so. Hu baabi a wo sika wɔ. Hu nea wɔde insurance ayɛ ne nea enni insurance. Hu wo ho a wobɛda no adi wɔ counterparty biako biara ho, sɛ́ ɛyɛ sikakorabea, payment processor, anaa stablecoin issuer. Na fa sika hyɛ nhyehyɛe ahorow mu — sɛ́ ɛyɛ Mewayz anaasɛ platform foforo — a ɛma saa visibility yi yɛ automatic sen sɛ ɛbɛyɛ manual.

Parallel banking nhyehyɛe no ntumi mma. Ɛwɔ ha dedaw. Asɛmmisa biako pɛ ne sɛ ebia wɔasiesie w’adwuma no sɛ wode ahotoso bɛfa so anaasɛ bere a aka akyi dodo sɛ wubedi ho dwuma nkutoo na wubehu asiane ahorow no. Wɔ sikasɛm tebea a ɛrepaapae abien mu no, nnwuma a wɔde wɔn dwumadi ahorow no si mfinimfini, wɔhwɛ ma wohu sikasɛm mu pefee, na wɔtra ase yɛ nsakrae no bɛyɛ wɔn a wɔda so ara gyina hɔ bere a mfutuma no akɔ fam no.

Nsɛmmisa a Wɔtaa Bisa

Dɛn ne "parallel banking system" a JPMorgan rebɔ kɔkɔ wɔ ho?

JPMorgan CFO Jeremy Barnum ahyɛ frankaa a ɛrenya nkɔso ntɛmntɛm wɔ stablecoins — dijitaal tokens a wɔde abɔ fiat sika ho — sɛ sikakorabea nhyehyɛe a ɛne ne ho di nsɛ a ɛreba. Esiane sɛ stablecoin gua no boro dɔla ɔpepepem 230 nti, saa nnwinnade yi de nneɛma a ɛma mfɛntom a ɛte sɛ sikakorabea a wɔde sie a ɛyɛ atetesɛm nanso ɛyɛ adwuma wɔ mmara nhyehyɛe ahorow a wɔde asi hɔ akyi ma kɛse. Saa nsakrae yi betumi adan sika a wɔde asie ɔpepepem pii afi sikakorabea ahorow a wɔahyɛ ho mmara no ho, na ama sikasɛm mu ahotɔ ne wɔn a wɔde asie no ahobammɔ ho dadwen aba.

Ɛbɛyɛ dɛn na stablecoins atumi de sika a wɔde asie wɔ sikakorabea a wɔde di dwuma wɔ amanne kwan so no ato asiane mu?

Stablecoins twetwe sikakorafoɔ denam akansi aba a wɔde ma a mmara kwan so ka a atetesɛm sikakorabea ahodoɔ de kɔ no nni mu. Bere a sika kɛse pii kɔ saa nnwinnade a wɔanhyɛ ho mmara yi mu no, sikakorabea ahorow betumi ahyia sika a wɔde asie kɛse, na ɛbɛtew wɔn boseabɔ so na ama sikasɛm mu ahobammɔ a wɔasi fi bere a Okunkɛse no bae no ayɛ mmerɛw. Wɔ nnwuma a wokura sika pii a wɔde asie no fam no, baabi a wo sika a wode asie no te ase — ne sɛnea wɔbɔ ho ban — rebɛyɛ sikasɛm ho gyinaesi a ɛho hia.

Dɛn na ɛsɛ sɛ nnwuma yɛ de bɔ wɔn ho ban fi sikasɛm mu ɔhaw ho?

Ɛsɛ sɛ nnwumayɛfoɔ yɛ wɔn sikasɛm nhyehyɛeɛ ahodoɔ na wɔma wotumi hu sika a ɛkɔ, sika a wɔde tua ho ka, ne akwan a wɔfa so tua ka no pefee. Platforms te sɛ Mewayz ma 207-module adwumayɛ OS a efi ase fi $19/mo a ɛde sikasɛm dwumadi, CRM, ne automation si mfinimfini — ɛma nnwuma ahorow no adwumayɛ mu ahoɔden a ehia na ama wɔatumi ayɛ nsakrae ntɛmntɛm bere a sikakorabea tebea no sesa wɔ atetesɛm ahyehyɛde ahorow ase.

So mmarahyɛfoɔ de wɔn ho bɛhyɛ mu de adi asiane a ɛwɔ stablecoins mu no ho dwuma?

Wɔhwɛ kwan sɛ mmara kwan so adeyɛ kɛse nanso ɛda so ara yɛ nea wontumi nsi pi wɔ ne kɛse ne bere nhyehyɛe mu. Mmarahyɛ baguafo regye nhyehyɛe ahorow a ɛbɛma wɔn a wɔde stablecoin ma no ahyɛ sikakorabea-te sɛ sikakorabea ne nsɛm a wɔda no adi ho ahwehwɛde ahorow ase ho akyinnye. Enkosi sɛ wɔbɛhyɛ mmara a emu da hɔ no, nnwumakuw hyia mfɛnsere bi a wontumi nsi pi. Sɛ wokɔ so nya nsɛm na wode dwumadie nnwinnadeɛ a wɔaboaboa ano te sɛ Mewayz di dwuma a, ɛboa ma wohwɛ sɛ wo dwumadie kɔ so yɛ ntɛmntɛm ɛmfa ho sɛ mmara kwankyerɛ bɛn na awieeɛ koraa no gua no fa so.