Citigroup, Fidelity International Unveil Proposal for On-Chain Fund With Real-Time FX Swaps

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.

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