Central Banking

MAS launches blockchain experiment

Fintech
MAS to launch cryptocurrency under the project with R3

The Monetary Authority of Singapore (MAS) has partnered blockchain start-up R3 to create an interbank payment system using blockchain technology.

In a statement today (November 16), the central bank said it had joined other financial institutions and the country's stock exchange to build a proof-of-concept model that could "potentially avail a payment system for participants to transact in different global markets round the clock".

"Under the pilot system, banks will deposit cash as collateral

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