Singapore will begin issuing a digital currency in 2024, which will be used for interbank settlements. Kommersant writes about this referring to the Monetary Authority of Singapore (MAS).
According to the regulator, it is planned to develop three types of digital money. These include central bank digital currency, tokenized bank liabilities, and regulated stackcoins.
Measures to introduce digital money began to be developed in 2016, said MAS director Ravi Menon. The regulator has carried out several successful tests in recent years.
The results of the experiments allow us to start issuing digital currency in real time for interbank settlements. Cross-border payments are also planned.
To test the system, the Singapore regulator intends to involve Amazon, JP Morgan, Alipay and other large organizations that work with financial technologies.
Earlier this week, the digital currency was officially launched in Kazakhstan.
Author:
Natalia Gormaleva
Source: RB
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