[Citibank and Swift Complete Fiat and Digital Currency PvP Settlement Pilot] Citibank and Swift have announced the completion of a Payment-versus-Payment (PvP) settlement process pilot between fiat and digital currencies, validating the interoperability between traditional financial systems and distributed ledger networks. The pilot was based on the existing Swift infrastructure, integrating institutional-grade blockchain connectors, business process coordinators, and smart contracts. In the pilot, Citibank used the test version of USDC on the Ethereum Sepolia testnet to simulate scenarios close to a production environment.