Global bank Citigroup (C) and Fidelity International, an $862 billion asset manager, have developed a proof-of-concept for an on-chain money-market fund that includes a digital foreign exchange swap. Their aim is to enable real-time settlement of multi-currency transactions, enhancing treasury management by eliminating delays and improving liquidity. The solution will be showcased at the Singapore FinTech Festival 2024, according to a Monday press release from the companies. The collaboration is part of the Monetary Authority of Singapore's Project Guardian, which explores blockchain's potential in financial markets.
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