Singapore’s SWF starts work on cross-border payment network
Singapore’s sovereign wealth fund Temasek, JP Morgan and DBS Bank will develop a platform to streamline cross-border payments.
The project follows the three organisations’ co-operation with the Monetary Authority of Singapore on its central bank digital currency (CBDC) initiative.
DBS Bank is a Singaporean bank that is essentially state-owned; Temasek is its controlling shareholder.
In a joint statement on April 28, the trio said they had established a new technology company, Partior, to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
More central clearing could have eased Covid shock – BoE paper
Efficiencies for dealer balance sheets could allow banks to play greater stabilising role, authors say
China and Hong Kong set to launch Swap Connect
New trading link will make it easier for foreign investors to hedge interest rate risks
Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
FSB sets ‘priority actions’ for global payments reform
Broad study of interoperability and alignment has been narrowed down to specific actions
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Lawmakers join pushback over SEC dealer rule
Bipartisan letter to Treasury says proposal would damage market liquidity