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Regulatory Licenses, Registrations, and Approvals

MAS Singapore: Intends to open wholesale CBDC test network SGD Testnet to eligible Financial Institutions such as Standard Chartered and DBS

2024-11-04 03:53:36

OXT6.46%

Odaily Planet Daily News According to official sources, the Monetary Authority of Singapore has announced its intention to promote regulated and trustworthy tokenized forms of currency as a common Settlement asset, thereby reducing Settlement risks and market fragmentation. It is currently facilitating Financial Institutions to obtain common Settlement assets, including wholesale Central Bank Digital Money (CBDC) in Singapore dollars, with initial test network SGD Testnet features including Settlement tools, programmability, and interoperability.
Testnet SGD Testnet will be open to eligible Financial Institutions in Project Guardian and Project Orchid, with the first batch of participating Financial Institutions including DBS Bank, OCBC Bank, Standard Chartered Bank, and UOB, with participating use cases including payments and securities Settlement.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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