Monographs/Information Papers
Global CBDC Challenge 2021 Report
The Global CBDC Challenge organised by MAS, in partnership with IMF, World Bank, ADB, UNCDF, UNHCR, UNDP and OECD, seeks innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion. This report provides a summary of the challenge through its various phases and includes highlights of the solutions presented by the 15 finalists during the Singapore Fintech Festival 2021.
Related Publications
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Monographs/Information PapersPublished Date: 16 October 2022
Testing Monographs or Information Papers
Testing short summary
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Monographs/Information PapersPublished Date: 24 March 2022
Project Dunbar
Project Dunbar proved that financial institutions could use CBDCs issued by participating central banks to transact directly with each other on a shared platform. This has the potential to reduce reliance on intermediaries and, correspondingly, the costs and time taken to process cross-border transactions. The project...
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Monographs/Information PapersPublished Date: 05 November 2021
Multi Currency Corridor network
The Monetary Authority of Singapore (MAS) and Banque de France (BdF) jointly experimented on wholesale cross-border payment and settlement using central bank digital currency (CBDC). The experiment, supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (m-CBDC) on a common network...