CandleFocus Citi and Fidelity Test Digital Currency Trading for Money Market Funds at Singapore Fintech Festival
2024-11-05
Author: Content Editor
Citi and Fidelity are testing digital currency trading for money market funds (MMFs), which will be showcased at the Singapore Fintech Festival. The project aims to modernize MMFs, enabling quicker settlements and potentially reducing transaction costs. This integration of digital currencies could provide higher returns for investors by minimizing the impact of currency fluctuations and operational delays. The use of blockchain and digital assets in MMFs could improve liquidity and transaction speed, leading to improved returns for investors. The initiative highlights Singapore's reputation as a hub for financial technology and digital assets. The streamlined trading process could eventually benefit both institutional and retail investors, signaling a significant evolution in the financial services landscape.
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