The Monetary Authority of Singapore announces three digital currency-related initiatives
On November 16th, the Monetary Authority of Singapore (MAS) announced three initiatives to ensure the safe and innovative use of digital currencies in Singapore, including: outlining the blueprint for the necessary infrastructure for the digital Singapore dollar, expanding digital currency trials, and planning to issue a "real-time" central bank digital currency (CBDC) for wholesale settlement.
The three forms of digital currencies being promoted by MAS in Singapore are wholesale CBDC, tokenized bank liabilities, and regulated stablecoins.
At the same time, MAS today released the Orchid blueprint, which outlines the technological infrastructure needed to promote digital currency transactions in the future, including settlement ledgers, tokenization bridges, programmability protocols, and naming services.
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