According to TechFlow news on November 4, as reported by CoinDesk, traditional financial giants Citibank and Fidelity have jointly developed a proof of concept for a blockchain-based currency market fund digital foreign exchange swap. The project will be showcased at the Singapore FinTech Festival from November 6 to 8, aiming to demonstrate how investors can achieve real-time settlement of multi-asset positions.
This proof of concept was developed under the framework of the Monetary Authority of Singapore (MAS) 'Project Guardian', which aims to advance a standardized approach to tokenization. Through this innovation, investors may gain the following benefits: real-time settlement of multi-asset positions; higher yields by investing in currency market funds denominated in non-local currencies; increased portfolio diversification.
