CandleFocus Citi, Fidelity Exhibit Proof-of-Concept for Real-Time Forex Swap Onchain
2024-11-04
Author: Content Editor
Citi and Fidelity have developed a proof-of-concept for a digital foreign exchange swap in an onchain money-market fund. This concept, developed under the Monetary Authority of Singapore's Project Guardian, aims to demonstrate how investors can settle multi-asset positions in real-time and access higher yields on foreign cash funds. Tokenization is a concept being explored by traditional financial institutions to improve efficiencies in global financial markets by settling trades between assets denominated in different currencies in real-time. This proof-of-concept will be exhibited at the Singapore Fintech Festival.
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