Citibank and Swift complete pilot for PvP settlement process between fiat and digital currencies
BlockBeats News, November 21, Citibank and Swift announced the completion of a pilot project for Payment-versus-Payment (PvP) settlement between fiat currency and digital currency, verifying the feasibility of interoperability between traditional financial systems and distributed ledger networks. This pilot was implemented using the existing Swift infrastructure, and achieved seamless integration of institutional-grade blockchain connectors, business process coordinators, and smart contracts. In addition, Citibank used a test version of USDC on the Ethereum Sepolia testnet during the pilot to simulate a near-production environment.
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