Say, a UAE Bank wants to settle in Swiss Franc. However, it does not have relationship with a bank in that region. It has relationship with a Euro Bank however, which settles in Swiss Franc. The UAE bank can use rates offered by the Swedish Bank on the forex market place to settle in Swiss Franc using the market maker product. The HC Market Maker will automatically pick up the best available forex rates for a certain currency pair.
In the example above, the Swedish bank puts out Forex deals in the HC open market place for participants to pick up. Similarly, Currency Exchanges, Banks, Wallets and Cash out providers can use the product to extend deals and expand their markets.
Real-time settlement occurs in any of the below assets
HC network native asset - HCX
Fiat currencies - EURO, USD etc
Crypto currencies - BTC, ETH etc
Central bank issued cryptocurrencies
Open Forex marketplace
Access to new markets
Better rates when remitting to a currency the exchange does not hold