MAS urges Singaporeans to use digital ‘red envelopes’ during Lunar New Year

Hong bao
Hong bao
Kenny Louie/Wikimedia

The Monetary Authority of Singapore (MAS) is urging Singaporeans to use digital hong bao – monetary gifts given during holidays in Asia – in the coming Lunar New Year celebrations.

Adopting digital hong bao will help reduce queues for physical notes and is more environmentally friendly, the MAS said in a statement on January 11. The move could reduce the carbon emissions generated by the production of new notes for Lunar New Year, estimated to be around 330 tonnes each year.

“The adoption of e

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