Today news
About the same in other media
Retail-focused Singaporean CBDC to hedge against privately issued stablecoins
Reading now: 914
Singaporean central bank Monetary Authority of Singapore (MAS) has ramped up efforts to research and develop a central bank digital currency (CBDC) for retail use under the Project Orchid initiative.
According to MAS managing director Ravi Menon, Singapore’s retail CBDC will be developed in partnership with private entities, which “would be the digital equivalent of today’s notes and coins.”
Speaking at the Singapore FinTech Festival, Menon highlighted the benefits of retail CBDCs in aiding faster and secure online transactions and building an inclusive payment ecosystem.
He also believes that building an in-house retail CBDC can reduce the inherent investment risks when dealing with privately issued stablecoins or foreign CBDCs within
Read more on cointelegraph.comAbout this in other media
Crypto-focused funds rejig strategy amid talk of trading ban economictimes.indiatimes.com /2 years ago
Chinese Central Gov’t Wants to Create ‘Digital Asset Exchanges’ as CBDC Nears cryptonews.com /2 years ago
India's Soap Opera Continues: CBDC Plan, 'Private Crypto' Ban, Some Trading Maybe cryptonews.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
