Citi and Swift today announced a landmark trial that proves the feasibility of settling payments between fiat and digital currencies, in a Payment-versus-Payment (PvP) workflow.

The trial demonstrates a powerful hybrid model for interoperability between traditional financial systems and Distributed Ledger Technology (DLT) networks.

This was achieved by leveraging existing Swift infrastructure, which was seamlessly augmented with institutional-grade blockchain connectors, orchestrators and smart contracts.

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