TechFlow news, on November 21, Citibank and Swift announced the successful completion of a pilot for Payment-versus-Payment (PvP) settlement processes between fiat and digital currencies, validating the feasibility of interoperability between traditional financial systems and distributed ledger networks. This pilot was carried out using existing Swift infrastructure and achieved through seamless integration of institutional-grade blockchain connectors, business process orchestrators, and smart contracts. In addition, Citibank used test USDC on the Ethereum Sepolia testnet during the pilot to simulate a near-production environment.
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