Singapore’s Central Bank Still Enthusiastic About Blockchain-based International Payments

  • The head of Singapore’s central bank told an audience at Money 20/20 Asia that the bank is still fully committed to it’s Blockchain-based international payments project.

Cover image via U.Today

Singapore’s central bank, the Monetary Authority of Singapore (MAS), is still adamant about its plans to use Blockchain for international payments. Ravi Menon, head of MAS, told an audience at Money 20/20 Asia that the bank is committed to its plan, called Project Ubin. Menon pointed out that MAS has already launched a trial partnership with the Bank of Canada to test Blockchain-based international remittances. Project Ubin is intended, in Menon’s words, to make international payments “without intermediaries, with greater speed and efficiency; and at lower risk and cost.”

About the author

David Dinkins is a freelance writer who holds a Master of Arts in history from Louisiana Tech University and has extensive teaching experience both at LSU – Shreveport and University of Phoenix. He got involved with cryptocurrency in early 2014 working as part of the Dash Core Team and have served in the role of writer/editor (mostly editor) during that time. He has edited a huge number of documents for the Core Team, including the Evolution whitepaper, the PrivateSend whitepaper, and many of Evan Duffield’s communications with the Dash Community.

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