MAS-led payments network promises applicability beyond finance

THE Monetary Authority of Singapore (MAS), JPMorgan and Temasek have developed a blockchain-based prototype that enables payments to be made in different currencies on the same network.

This multi-currency payments network has the potential to improve cost efficiencies for businesses, said MAS, which led its development.

It is undergoing industry testing to determine its ability to integrate with commercial blockchain applications.

The applications that were tested successfully will be showcased at the Singapore FinTech Festival a…