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.
Responses to the Bank of England discussion paper are due by 12 June 2020.
SWIFT infrastructure removes the need to connect to multiple custodians.
The platform enables banks, such as JPMorgan, to cut payments and settlement from days to under three minutes.
