Case for retail CBDC ‘not compelling’ in Singapore – Menon

A view of Singapore at night

The Monetary Authority of Singapore does not see a “compelling case” for issuing a retail central bank digital currency (CBDC), Ravi Menon said on August 29.

“The case for a retail CBDC in Singapore is not compelling for now, given well-functioning payment systems and broad financial inclusion,” the MAS managing director said. “Retail electronic payment systems are fast, efficient, and at zero cost, while a residual amount of cash remains in circulation and is unlikely to disappear.”

Even so

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