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MAS-led payments network promises applicability beyond finance

Network being tested; MAS and partners see potential for it to improve cost efficiencies for businesses

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Fiona Lam

Fiona Lam

Published Mon, Nov 11, 2019 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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.

    BlockchainMonetary Authority of SingaporeTemasekSFF x Switch 2019

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