MAS to test “live” wholesale CBDC next year
Central bank chief Ravi Menon backs CBDCs, stablecoins and tokenised bank liabilities as digital money
The Monetary Authority of Singapore (MAS) will trial a wholesale central bank digital currency (CBDC) with local banks in a live setting next year, as part of its efforts to explore a greater use of digital money.
In a statement released today (November 16), the central bank said the first pilot will involve the use of a “live” wholesale CBDC for settling domestic payments between commercial banks. Future pilots could involve using a live wholesale CBDC for settling cross-border securities
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