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Citibank and SWIFT complete pilot program for fiat-to-crypto PvP settlement.

Citibank and SWIFT complete pilot program for fiat-to-crypto PvP settlement.

Cointime2025/11/21 04:39
By: Cointime
ETH-4.32%

Citibank and Swift announced the completion of a pilot for a Payment-versus-Payment (PvP) settlement process between fiat currency and digital currency, verifying the feasibility of interoperability between traditional financial systems and distributed ledger networks. This pilot was implemented based on the existing Swift infrastructure and achieved through 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 in the pilot to simulate a near-production environment.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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