MAS to test “live” wholesale CBDC next year

Central bank chief Ravi Menon backs CBDCs, stablecoins and tokenised bank liabilities as digital money

Central Bank Digital Currency Partner: Movmint

The Monetary Authority of Singapore (MAS) will trial a wholesale central bank digital currency (CBDC) with local banks in a live setting next year, as part of its efforts to explore a greater use of digital money.

In a statement released today (November 16), the central bank said the first pilot will involve the use of a “live” wholesale CBDC for settling domestic payments between commercial banks. Future pilots could involve using a live wholesale CBDC for settling cross-border securities

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