CitiBank, one of the world’s largest banks, has successfully conducted a simulation demonstrating the tokenization of a private equity fund on the Avalanche blockchain network, specifically using Avalanche’s Layer 1 Spruce subnet.
Interestingly, this development has the potential to accelerate the adoption of distributed ledger technology in the financial industry, particularly on Wall Street.
Blockchain Simulation For Forex Trading On Avalanche
According to the press release, the simulation was part of Project Guardian, a collaborative initiative between the Monetary Authority of Singapore (MAS) and the financial industry.
The application is currently in testing and unavailable to clients. It is focused on a Request for Streaming (RFS) application that tested simulated spot FX for the USD/SGD cross.
However, the information provided by Avalanche Network in its press release suggests that the underlying solution has broader applicability and can be used to trade any currenc
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