EUR/USD 1.14029
-0.074%
Gold 4047.15
-1.429%
Oil 73.972
2.723%
USD/JPY 162.505
0.257%
GBP/USD 1.33372
-0.159%
GBP/JPY 216.740
0.113%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Germany will approve a €12 billion defense contract.Qatari Cabinet: We demand that Iran cease these dangerous practices and reserve the right to take appropriate action to protect its own interests.July 8th - Equita Sim analyst Paola Carboni stated that Gucci should benefit from LOréals early acquisition of its beauty product licenses. Kering Group announced that, following an agreement with existing licensor Coty, it will transfer the licenses to sell Gucci-branded beauty products to LOréal a year ahead of schedule. Carboni stated that the faster transition should allow Gucci to benefit from LOréals expertise and scale, pointing to the French beauty companys marketing firepower and global distribution network. "A positive impact on Guccis brand visibility and appeal is expected in the medium term."The MBA 30-year fixed mortgage rate in the United States was 6.58% for the week ending July 3, compared with 6.57% previously.On July 8, the Monetary Policy Committee of the Peoples Bank of China held its second quarterly meeting of 2026. The meeting emphasized the need to be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the National Peoples Congress and the Chinese Peoples Political Consultative Conference, and follow the decisions and deployments of the CPC Central Committee and the State Council. It stressed the importance of firmly grasping the primary task of high-quality development, solidly advancing Chinese-style modernization, fully and accurately implementing the new development philosophy, and accelerating the construction of a new development pattern. The meeting also emphasized the need to coordinate the relationship between aggregate supply and aggregate demand, focusing on expanding domestic demand and optimizing supply, improving incremental growth and revitalizing existing assets, enhancing the endogenous driving force of economic development, further strengthening the domestic economic cycle, optimizing the domestic and international dual circulation, and continuously consolidating and expanding the positive momentum of steady economic growth.

Bitcoin Lightning Network-Based Strike Can Rival Visa – MS

Cory Russell

Apr 25, 2022 09:49

Morgan Stanley is optimistic about the bitcoin Lightning Network's potential as a consumer payment option.


They believe Strike, a Lightning Network-based payment technology, can compete with or even outperform Visa in the digital payments market.


Strike has partnered with Shopify and NCR, the world's leading supplier of point-of-sale payment solutions.


Morgan Stanley published a new analysis on the Lightning Network, bitcoin's Layer 2 fast payment system, and its potential to enable a "long-term move towards payments and settlements utilizing digital and cryptocurrencies rather than fiat currencies like the US dollar."


Morgan Stanley's positive analysis on the Lightning Network's potential for broader adoption comes after Strike, a US-based digital payments platform built on top of bitcoin's Lightning Network, announced earlier this month a new integration agreement with e-commerce giant Shopify.


Customers who paid in bitcoin will now be able to receive payments in US dollars from US Shopify businesses. Strike has announced collaborations with NCR, the world's leading supplier of point-of-sale (PoS) payment services.

Morgan Stanley Believes That Lightning Network Will Be Able to Compete With Visa

Morgan Stanley outlined why it believes Strike, a Lightning Network-based digital payment network, can compete with or perhaps exceed Visa in its recent study.


Morgan Stanley observes that "in essence, Strike is directly competing with Visa Direct, which provides real-time settlement," adding that "the primary distinction for merchants will be paid a significantly lower transaction cost."


"The customer advantage is that they may, if they choose, host their bitcoin on a private, secure network, enabling an element of secrecy connected with their transaction," the bank says.


Morgan Stanley emphasizes the importance of Strike's cooperation with NCR. "NCR software is used by one in every six PoS devices worldwide," the bank says, "so this news is important even if just a tiny percentage of retail businesses opt to add crypto capabilities."

Cons of Making Bitcoin Payments

The Morgan Stanley analysis points out some of the disadvantages of utilizing a bitcoin-based payment system, such as the cryptocurrency's underlying volatility on a day-to-day basis, which makes forecasting future buying power problematic.


Meanwhile, Morgan Stanley says that existing tax regulations, which require users to pay capital gains taxes on cryptocurrencies they sell, are a barrier to greater acceptance of bitcoin as a widely used means of exchange.


The bank, on the other hand, mentions the Virtual Currency Tax Fairness Act, which has been introduced in the US Congress. If passed, the law would exclude personal bitcoin transactions from taxation as long as the profits are less than $200.


Morgan Stanley, on the other hand, cautions that this plan may meet criticism, particularly from anti-crypto members of Congress, since it serves to establish bitcoin (and other cryptocurrencies) as credible alternatives to the US currency.


The Morgan Stanley analysis "suggests we are at the beginning of an age when more and more people may opt to pay for items using Bitcoin and cryptocurrencies over time," according to Alex Gladstein, who summarized it on Twitter.

Suggestion