Singapore’s central bank offers cash prizes for digital currency ideas
The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship. The Monetary Authority of Singapore, the country’s central bank and a major financial regulator, is challenging fintech companies to pitch solutions for a central bank digital currency, or CBDC.On Monday, the central bank officially announced a global challenge that seeks new retail CBDC solutions which enhance payment efficiencies and promote financial inclusion. As part of the initiative, the MAS is planning to distribute 50,000....
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Andhra Pradesh, an Indian state located in the south of the country and the Monetary Authority of Singapore (MAS), the country’s central bank, have announced a partnership that will aim to promote Fintech innovation with a focus on blockchain and digital payments. Signed on Saturday in India, the “Fintech Cooperation Agreement” will see the MAS, Singapore’s financial regulator and central bank, partner Andhra Pradesh, a state known for its pro-tech ideologies with a history of welcoming foreign investment and partnerships to set up infrastructure within its state boundaries. A press....
The 15 finalists will be mentored by the MAS and “be given access to the APIX Digital Currency Sandbox for rapid prototyping of digital currency solutions.” The Monetary Authority of Singapore (MAS) has shortlisted 15 “Global CBDC Challenge” participants to help build an in-house retail central bank digital currency (CBDC).An announcement shared by the MAS shows that the finalists include six companies from Singapore, four from the United States, and one each from Australia, Barbados, Germany, France and Switzerland, of which only three winners will be selected to deploy a retail CBDC in....
Yet another international central bank is putting the spotlight on bitcoin by sounding the warning alarm to those who may be inclined to buy, invest in it, or use as, well, a currency. This time around it's Banca d'Italia, Italy's Central Bank. In a recently-released statement, the central bank cautioned that bitcoin (and presumably other digital currency) are not financially stable, are not legal tender, and offers no protection to those who use it and lose it. The Central Bank also noted that bitcoin has the potential to be used for illicit activities, which of course applies to cash,....
The inaugural 2021 Independent Reserve Cryptocurrency Index, or IRCI, is based on a poll of 1,000 Singaporeans from a representative background of gender, age and location. Cryptocurrency adoption is growing in Singapore, especially among younger generations looking to capitalize on the generational wealth potential of Bitcoin (BTC) and other digital assets, according to a new survey conducted by Asia-Pacific cryptocurrency exchange Independent Reserve. Forty-three percent of the polled respondents said they owned cryptocurrency, with 46% planning to buy digital assets in the next 12....