Singapore central bank to trial live wholesale CBDC for settlements By Cointelegraph


A pilot program for a live Singapore dollar-based central bank digital currency (CBDC) was unveiled by Singapore’s central bank, which aims to have the CBDC used by local banks for settlements.

“I am pleased to announce that MAS will pilot the ‘live’ issuance of wholesale CBDCs to instantaneously settle payments across commercial banks,” MAS managing director Ravi Menon said on Nov. 16 at the Singapore Fintech Festival.

Project Guardian members include big banks Citi, HSBC and BNY Mellon (NYSE:). Source: