Interesting retweet from Raia today.
Digital Title + Gold Kilobar to satisfy initial margin/variation margin + yuan cash settled kilobar = new gold repo/leasing market + stealth yuan/$ fx market in world's best legal jurisdiction where west meets east.
Soon.
$ABXX.to
Digital Title + Gold Kilobar to satisfy initial margin/variation margin + yuan cash settled kilobar = new gold repo/leasing market + stealth yuan/$ fx market in world's best legal jurisdiction where west meets east.
Soon.
$ABXX.to
@coenjarts @Greenacres1000 @JoshCrumb @Sorenthek @TFL1728 There's a big FX angle here, too.View quoted post on X
If you long GKS and short same month Kilobar Yuan, you have a vanilla FX exposure. Do this across multiple months, you have a synthetic USD/CNH curve. Creates a huge arb play to drive volumes to GKS.