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On March 2nd, Bruyette & Woods stated in a research report that European insurers shares should be supported by rising risk premiums. Analyst William Hawkins wrote, "We believe the current share price weakness presents a buying opportunity for the sector, which will continue to demonstrate a risk-reward ratio superior to what is remembered from the 1910s." While the US attacks on Iran over the weekend were unexpected, they should not have caught European insurers off guard in terms of risk management processes, given Irans decades-long history as a sanctioned and marginalized regime. He added that underwriting losses are possible, but unless there are serious errors in company processes, it is difficult to imagine these losses having a substantial impact on the industry.March 2nd - Goldman Sachs analysts stated that the escalating situation in the Middle East is posing significant upside risks to the tanker freight market, with insurance premiums also rising sharply. They pointed out that even without further major disruptions in the Straits of Hormuz, preventative restocking and route diversions could further drive up already high freight rates. According to the US bank, global crude oil freight rates have risen by 50% this year due to increasing oil transport volumes at sea and Venezuelas growing use of legal tankers rather than a "shadow fleet." Freight rates are typically determined by the relationship between demand for tanker capacity and the number of available vessels.Iranian ballistic missiles struck central Israel, triggering sirens in the region.March 2 - The Israel Defense Forces confirmed that Iran launched missiles at Israeli territory, and the defense system is intercepting them.The UKs Maritime Trade Operations Office has received a report of an incident at the port of Bahrain.

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.

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