UNITED ARAB EMIRATES OPENING FREE ZONE DEDICATED TO CRYPTO COMPANIES
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The government of Indonesia is in the process of rolling out a crypto trading platform, it is supposed to come out in June. Indonesia is one of the most important economies in South Asia and we are seeing increasingly positive approaches toward cryptocurrencies in the country with the rollout of this government-backed cryptocurrency exchange. We are seeing a situation where we have this rising tide of new platforms coming out and new fiat on-ramps coming out which will lift all boats in the crypto markets.
We also see in the United Arab Emirates, they are going to be opening up a free zone dedicated to cryptocurrency companies. The UAE has been going hard into crypto over the last year. Most crypto companies have not moved their headquarters to Dubai because it country that wants to regulate it properly. While a country like the USA is cracking down on crypto and doing all kinds of stuff, other countries are picking up the ball that America is currently dropping. Visa and Master cards are the two biggest credit card companies in the world, they are both massively getting into crypto. Visa has been pushing hard on stuff like USDC settlement and allowing for credit cards to connect over to crypto accounts. We are going to see crypto over the next few years become completely integrated with the day-to-day financial system that we all use.
We are seeing massive amounts of liquidity coming into the market and it is very exciting because when we have massive liquidity coming into the market, that is what rising markets up. We seeing a lot of liquidity coming out of East Asia with China and Japan dumping truckloads of money into the market. China in particular putting huge sums of money back into the market to reopen the country.