Digital Money
Assets are transacted on Provenance Blockchain using one of many forms of blockchain-based digital money. Participants on Provenance use (currencies that represnt exact USD... help with text...)
Something about bilateral exchange allows T-0 instant settlement.
USDF
USDF is a bank-minted tokenized deposit referencing fiat currency on Provenance Blockchain.
USDF is available through the USDF Consortium, a membership-based association of FDIC-insured banks that have come together to build modern blockchain-based payments rails. USDF enables real-time payments, multi-party settlement, and digital asset marketplaces.
USDF is:
- A digitized representation of an existing fiat deposit, not a new asset pegged to another or backed by collateral.
- Able to move between KYC/AML’d accounts at member institutions.
- Programmable, offering member banks the opportunity to employ smart contacts and thus a wide range of use cases.
- A low cost, real time transaction and settlement mechanism, invisible to customers via their existing front end interface.
