Singapore Eyes Central Bank-Issued Digital Currency
R3 and eight financial institutions will conduct a pilot program for interbank payments and cross-border foreign currency transactions.
MAS has partnered with eight financial institutions, the Singapore Exchange, and technology provider BCS Information Systems, to work on a proof-of-concept (POC) project using blockchain technology for interbank payments and cross-border foreign currency transactions.
The project is also supported by the R3 blockchain research lab and BCS.
Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ Ltd, Credit Suisse, DBS Bank, HSBC, JPMorgan, OCBC Bank, and United Overseas Bank are among the
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