The Monetary Authority of Singapore (MAS) has unveiled its digital money strategy, focusing on wholesale central bank digital currency (CBDC), tokenized bank liabilities, and regulated stablecoins. This comprehensive vision positions Singapore as a frontrunner in the digital finance landscape. MAS aims to facilitate interbank settlement through the development of a wholesale CBDC, with local banks OCBC and UOB already testing interbank settlements using digital tokens. MAS plans to extend this initiative to cross-border transactions, signaling its ambition to impact international financial transactions. MAS’s strategic foresight and continuous effort in leading the digital finance revolution are evident in this development. Singapore’s announcement comes at a time when digital currency initiatives are gaining momentum globally. By focusing on wholesale CBDC, tokenized bank liabilities, and regulated stablecoins, MAS is transforming the landscape of interbank settlements and positioning Singapore at the forefront of the global shift toward digital finance.

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Information	Details
Geography	Asia
Countries	🇸🇬
Sentiment	positive
Relevance Score	1
People	Ravi Menon
Companies	The text references the following organizations and institutions: – The Monetary Authority of Singapore (MAS)- OCBC- UOB
Currencies	None
Securities	None