Citi and Fidelity Develop Proof-of-Concept for Digital Foreign Exchange Swap in Onchain Money-Market Fund

Citi and Fidelity have collaborated to create a proof-of-concept for a digital foreign exchange swap within an onchain money-market fund, as part of MAS' Project Guardian. The project is a significant development for traditional financial institutions, demonstrating their willingness to explore the potential of Blockchain technology. The proof-of-concept is a digital FX swap within an onchain MMF, and could pave the way for further innovation in the sector.