Tag: Monetary Authority Singapore

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China’s digital yuan nears $250B transaction volume: Central bank governor

July 20, 2023

While the adoption and use cases of China’s central bank digital currency are expanding, the digital yuan still only represents 0.16% of China’s monetary supply. Nearly $250 billion worth of transactions have taken place using China’s digital yuan in the one-and-a-half years since the start of its pilot, the country’s central bank governor has claimed.…
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JP Morgan executes first DeFi trade on public blockchain

November 3, 2022

The MAS Chief Fintech Officer said the successful test was “a big step towards enabling more efficient and integrated global financial networks.” Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain. The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project…
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