Digital yuan pilot announced between China and Singapore
Central banks to co-ordinate on green finance as MAS-CSRC staff exchange programme resumes
Tourists from China and Singapore will be able to use the e-yuan – China’s central bank digital currency (CBDC) – for their purchases in both countries during a pilot project, the Monetary Authority of Singapore announced on December 7.
The cross-border CBDC pilot between MAS and the People’s Bank of China’s Digital Currency Institute comes amid a number of other joint initiatives, including discussions around linking Singapore’s PayNow and China’s UnionPay for remittances.
MAS deputy managing
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