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

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 or view our subscription options here:

You are currently unable to copy this content. Please contact 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

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

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