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Citi and IADB complete cross-border payment pilot with blockchain tech

Citi and IADB complete cross-border payment pilot with blockchain tech

Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United States to a recipient in the Dominican Republic, using the LACChain blockchain network – a proprietary effort by IADB’s regional program LACChain.








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