A fiat-crypto bridge is a facility that allows for the exchange of traditional government-issued currencies for cryptocurrencies, and conversely, cryptocurrencies back into fiat. These bridges act as gateways, connecting the conventional financial system with the decentralized digital asset market. They often involve banking partners, payment service providers, and cryptocurrency exchanges to handle the conversion and transfer of value. The presence of robust fiat-crypto bridges is vital for liquidity and market access.
Context
News surrounding fiat-crypto bridges often focuses on regulatory developments, security enhancements, and efforts to streamline the user experience. These bridges are under continuous scrutiny from financial authorities concerning compliance with anti-money laundering regulations and consumer protection. Innovations in payment processing and banking partnerships are regularly reported, aiming to improve the speed and reduce the costs associated with these critical financial conduits.
The collaboration links Citi's global payment network with Coinbase's digital rails, achieving T+0 liquidity management and reducing institutional fund transfer friction.
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