Singapore’s Central Bank is Developing a Blockchain Inter-Banking Payments Platform with R3
The Monetary Authority of Singapore (MAS), the country’s central bank, has announced the development of a blockchain proof-of-concept pilot project that will facilitate inter-bank payments, globally. Announced today, Singapore’s primary monetary authority revealed the project, developed in partnership with New York-based blockchain startup R3. The project aims to develop a payment system that will enable banks to transact between global markets at any hour, with instant transfer of funds between participants. Applications will include cross-border payments, trading and settlement processes....
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