fiat-to-crypto PvP settlement
Citibank has successfully completed a pilot program for a fiat-to-crypto payment versus payment (PvP) settlement process in collaboration with Swift. This pilot aims to enhance the efficiency and security of cryptocurrency transactions by integrating traditional fiat currencies with digital assets. The initiative is part of Citibank’s strategy to explore innovative solutions within the digital currency landscape. The collaboration with Swift is expected to streamline the settlement process, making it more accessible for users engaging in both fiat and cryptocurrency transactions. This development marks a significant step in bridging the gap between traditional banking and the evolving digital currency market.
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