YieldFX and Hedera are partnering on a foreign-exchange service aimed at emerging-market users. The planned offering would represent deposits held at regulated banks as tokens on Hedera’s network, connecting bank deposits with a blockchain-based exchange service.
Users are expected to be able to switch currencies instantly and receive interest each day. YieldFX focuses on foreign-exchange services, while Hedera would provide the blockchain technology supporting the product.
EconoTimes previously reported on VersaBank’s trial of tokenized deposits on Algorand, a separate project whose commercial offering depended on a successful test.
