MAS launches blockchain experiment
Central bank to build a proof-of-concept model to conduct interbank payments
The Monetary Authority of Singapore (MAS) has partnered blockchain start-up R3 to create an interbank payment system using blockchain technology.
In a statement today (November 16), the central bank said it had joined other financial institutions and the country's stock exchange to build a proof-of-concept model that could "potentially avail a payment system for participants to transact in different global markets round the clock".
"Under the pilot system, banks will deposit cash as collateral
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