MAS-led payments network promises applicability beyond finance
Network being tested; MAS and partners see potential for it to improve cost efficiencies for businesses
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
A timeline of DBS’ recent banking glitches
China’s CICC demotes senior bankers, cuts pay to slash costs
Credit Suisse China securities joint venture says staff down 46% in 2023
More than 90% of stablecoin transactions aren’t from real users, study finds
RBA to keep key rate at 12-year high as inflation stirs anew
Buffett praised Apple after trimming it, drops Paramount stake