A global payment network is an interconnected system enabling the transfer of funds across international borders. These networks facilitate cross-border transactions between diverse financial institutions, businesses, and individuals, often involving multiple currencies. Traditional examples include SWIFT and correspondent banking systems, while newer digital asset networks aim to offer faster, cheaper, and more transparent alternatives. Their primary function is to support international commerce and remittances efficiently.
Context
The ambition to establish a truly efficient global payment network is a recurring theme in cryptocurrency news, with many blockchain projects positioning themselves as solutions to existing inefficiencies. Discussions frequently contrast the speed and cost-effectiveness of decentralized networks with the legacy systems, while also addressing regulatory challenges and interoperability concerns. Future developments will likely involve hybrid models combining elements of traditional finance with digital asset infrastructure to enhance cross-border value transfers.
The collaboration links Citi's global payment network with Coinbase's digital rails, achieving T+0 liquidity management and reducing institutional fund transfer friction.
This partnership structurally integrates a regulated digital asset on-ramp into Citi's global payment network, achieving real-time, borderless settlement for enterprise treasury operations.
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