NY Fed and MAS test distributed ledger CBDC payments

Faster payments

Distributed ledger technology can improve cross-border payments, the New York Fed and the Monetary Authority of Singapore found in phase two of their joint project, known as Cedar.

The two central banks linked their digital currency ledgers without a central clearing authority or a shared central network, they said on May 19. The payments were automatic, reducing counterparty risk, and end-to-end settlement was achieved in under 30 seconds.

For a typical foreign exchange transaction, their

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 copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account