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MAS, Bank of Canada trial could make cross-border payments cheaper, faster, safer

The central banks' domestic payment networks were built on distributed ledger technology platforms and linked up

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Fiona Lam

Fiona Lam

Published Thu, May 2, 2019 · 09:50 PM

    Singapore

    A SUCCESSFUL experiment by the Monetary Authority of Singapore (MAS) and the Bank of Canada using central bank digital currencies and distributed ledger technology (DLT) could make cross-border and cross-currency payments cheaper, faster and safer.

    This is the first such trial between the two central banks, they said in a joint media statement on Thursday.

    Monetary Authority of Singapore

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