By tokenizing money-market funds and using blockchain technology, Citi and Fidelity International — which is separate from the better-known Fidelity Investments — aim to facilitate faster, seamless transactions, allowing investors to manage FX risks more efficiently. This advancement could enable corporate treasurers to diversify portfolios and access higher yields on U.S. dollar-denominated MMFs while maintaining liquidity.
Source: https://www.coindesk.com/policy/2024/11/04/citi-fidelity-exhibit-proof-of-concept-for-real-time-forex-swap-onchain/?utm_medium=referral&utm_source=rss&utm_campaign=headlines