Automated Market-Making for Fiat Currencies

Alex Lipton; Artur Sepp

Automated Market-Making for Fiat Currencies

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arxiv 2109.12196 v1 pith:RFHHFPUH submitted 2021-09-24 q-fin.TR

Automated Market-Making for Fiat Currencies

Alex Lipton , Artur Sepp This is my paper

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keywords currenciesapproachassetsautomateddigitalmarket-makingratesbank

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We present an automated market-making (AMM) cross-settlement mechanism for digital assets on interoperable blockchains, focusing on central bank digital currencies (CBDCs) and stable coins. We develop an innovative approach for generating fair exchange rates for on-chain assets consistent with traditional off-chain markets. We illustrate the efficacy of our approach on realized FX rates for G-10 currencies.

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Multi-Currency AMMs for Decentralized FOREX Markets: Feasibility & Optimal Design
q-fin.TR 2026-07 conditional novelty 6.0

Optimized multi-currency constant-mean AMM pools with correlation-based currency clustering cut modeled FX trading costs by ~13% versus USD vehicle-currency routing.