Institutions will connect onchain activity with traditional payment rails.
More firms are seeking direct access to the Fed's payment services as the competitive landscape revolves.
In the near term, participating banks will begin live transactions using tokenised deposits.
Kraken Financial will gain direct access to the Federal Reserve’s payment infrastructure.
The two companies will also explore joint innovations in tokenised deposits.
The collaboration builds on Citi’s approach to creating payment solutions in a 24/7 digital money landscape.
Swift and a group of more than 30 financial institutions globally will develop a shared digital ledger.
Blockchain-based payment solutions for cross-border payments are a strategic focus for UBS.
Digital assets and currencies need to seamlessly coexist with traditional forms of money.
