Blockchain Experiment For Cross-Border Payments Completed By Central Banks Of Canada And Singapore

Blockchain, Innovation, News | May 2, 2019 By:

The Monetary Authority of Singapore (MAS) and the Bank of Canada (BoC) have successfully completed an experiment on cross-border and cross-currency payments using central bank digital currencies (CBDC).

The two central banks have been collaborating in the use of distributed ledger technology (DLT) and CBDCs to make the cross-border payment process cheaper,