A pilot program for a dwell Singapore dollar-based central financial institution digital forex (CBDC) was unveiled by Singapore’s central financial institution, which goals to have the CBDC utilized by native banks for settlements.
“I’m happy to announce that MAS will pilot the ‘dwell’ issuance of wholesale CBDCs to instantaneously settle funds throughout industrial banks,” MAS managing director Ravi Menon mentioned on Nov. 16 on the Singapore Fintech Competition.
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