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
Add BT as a preferred source
Fiona Lam
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.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources
