Citi and Swift have successfully trialed a Payment-versus-Payment (PvP) workflow that synchronizes settlement between fiat currencies and stablecoins, bridging traditional banking rails with blockchain networks for more efficient cross-border transactions. Citi and Swift tested a Payment-versus-Payment workflow synchronizing fiat and digital token settlements. The trial integrated Swift’s network with blockchain tools like escrow and orchestrators [.] Source:.
https://bitcoinethereumnews.com/blockchain/citi-and-swift-trial-explores-synchronized-usdc-fiat-settlements-via-blockchain/