MAS embarks on retail CBDC study
But Singapore sees no pressing need for retail central bank digital currency, MAS says
The Monetary Authority of Singapore is launching a technical and policy study on retail central bank digital currency, despite seeing “no pressing need” for one now.
Work will now begin under “Project Orchid”, said Ravi Menon, managing director of the MAS, in a speech at a fintech conference on November 9.
Meanwhile, the authority will carry out studies of regulatory frameworks for a digital SGD, as well as operational and legal considerations, according to an MAS paper released on the same
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