Abstract: Blockchain, or distributed ledger network technology, facilitates and accelerates foreign currency (FX) transactions and makes them reliable and trusted by prequalifying participants in the transactions to participate. Prequalifying participants enables funding of the transaction before parties enter into a trade, reducing the time required to consummate a transaction. In one aspect, the credit aspect of these transactions is disaggregated from the transactions themselves, eliminating credit risk and delivery risk, among others. Immutability of data in the blockchain enhances transaction reliability, and promotes confidence on both sides of a given transaction. In another aspect, fully collateralized fiat coins (FCFC) residing within the blockchain are based on an underlying fiat currency. Within the blockchain, the FCFC are their own currency.