Singapore: Announced joint project between NY Federal Bank and Monetary Authority of Singapore on Central Bank Digital Currency

Compare with different regulatory event:

Description

Announced joint project between NY Federal Bank and Monetary Authority of Singapore on Central Bank Digital Currency

On 11 November 2022, the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York and the Monetary Authority of Singapore (MAS) announced a joint project on central bank digital currency (CBDC) called “Project Cedar Phase II x Ubin+”. The project will explore the potential efficiencies of using wholesale CBDC for cross-border payment and is expected to help build capabilities for an open and interoperable financial infrastructure.

Original source

Scope

Policy Area
Registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
supranational
Government Branch
executive
Government Body
central bank

Complete timeline of this policy change

Hide details
2022-11-11
under deliberation

On 11 November 2022, the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York …