Urgent Call for Cryptoasset Framework by G20 Leaders

Dear Readers,

Welcome to the latest edition of XEROF's weekly newsletter. The latest news in the digital currency and high-end real estate markets are presented in this issue by our European research team.

Here are our featured cryptoasset news pieces this week:

• G20 Leaders Advocate Swift Adoption of Cross-Border Cryptoasset Framework
• Bitcoin Surges Over $26,000 as Investors Withdraw from Exchanges
• Stellar (XLM) Sees Noteworthy Price Surge Amid Speculation

In addition, we highlight cutting-edge luxury lifestyle innovations such as:

• Robust Property Sales Persist in Dubai Despite Soaring Prices
• Luxury Housing Sales Soar in India: Factors Behind High-End Property Demand
• Even when the market is down, high-end homes in major US cities still sell quickly.

Cryptoasset News

G20 Leaders Advocate Swift Adoption of Cross-Border Cryptoasset Framework

The leaders of the world's top 20 economies are urging the rapid implementation of a global framework for regulating cryptoassets. Under this proposed framework, countries will exchange information on digital currency transactions annually, including those on unregulated exchanges and wallet providers. XEROF remarks that the G20 leaders endorsed recommendations from the Financial Stability Board to regulate cryptoasset activities and global stablecoin arrangements, which are the same standards applied to commercial banks.

Bitcoin Surges Over $26,000 as Investors Withdraw from Exchanges

Bitcoin (BTC) has made a strong recovery, surpassing the $26,000 mark after dwelling in the $25,000 range for over a week. The cryptoasset has seen a nearly 2% increase in value within 24 hours and is currently trading at $26,246, according to CoinGecko. With 29,300 Bitcoin withdrawn from cryptoasset exchanges in the last month, the supply of available Bitcoin has dropped from 2,082,763 to 2,053,460, marking a decline of over 1.4%. XEROF remarks that this trend aligns with expectations of increased demand from institutional investors, potentially driving Bitcoin prices higher.

Stellar (XLM) Sees Noteworthy Price Surge Amid Speculation

XLM surged by 11.5% from September 2 to September 8. The surge follows cryptic announcements from Stellar hinting at significant upcoming developments, possibly involving real-world assets. XEROF comments Stellar's investments in MoneyGram and its upcoming Soroban smart contract platform reveal its ambition to compete in the decentralised application market, challenging Ethereum's dominance.

Luxury Real Estate News

Robust Property Sales Persist in Dubai Despite Soaring Prices

Dubai's real estate market maintains strong sales activity despite significant price increases. According to Unique Properties, villa prices have surged by 51% and apartment prices have risen by 21% since the beginning of this year. The Dubai Land Department recorded over 3,200 transactions in the past week, highlighting the continued demand. In addition, research from Savills reveals a 44% increase in real estate transactions during the first half of 2023.

Luxury Housing Sales Soar in India: Factors Behind High-End Property Demand

India's robust economy and political stability have fuelled a 130% rise in high-end property sales in 2023, with notable growth in cities like Hyderabad and Delhi-NCR. In the year's first half, 6,900 luxury housing units were sold, with Delhi-NCR, Mumbai, and Hyderabad emerging as the top-performing regions. Thanks to relaxed FDI regulations, foreign investors are capitalising on India's expanding economy, and the trend toward upscale living is boosting demand for luxury properties. It is anticipated that foreign investors will continue to pour money into India's luxury real estate market.

Luxury Homes in US Cities Sell Swiftly Despite Market Trends

According to recent data, high-end property sales have increased in Silicon Valley, Seattle, and Nashville, defying a general slowdown in real estate markets due to inflation and rising interest rates. In California's Silicon Valley, luxury residences in San Jose, Sunnyvale, and Santa Clara are selling two days faster than in 2022, with a median of 39 days on the market.

Company News

XEROF is a Festival Partner for Web Fest 2023

XEROF is pleased to announce that we will be the Festival Partner at Swiss Web Fest 2023. This event emerged following successful ecosystem evenings hosted by Crypto Oasis in Dubai and aims to mirror the lavish, exclusive gathering and deliver an unparalleled experience during the 5-day gathering. The festival offers various attractions, from music and lifestyle to curated roundtables.

Come and join us from September 12-17th in Zurich and Zug, Switzerland. You can also enjoy a FIVE hotel discount using the code CVCO23. Please click here for more information.

We look forward to meeting you at the event.