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26 November 2020

Singapore ready to launch wholesale CBDC, local exec says

Singapore ready to launch wholesale CBDC, local exec says


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Singapore is ready to launch it's own central bank digital currency, or CBDC, said Sopnendu Mohanty, chief FinTech officer at Singapore’s central bank and financial regulator, Monetary Authority of Singapore.

Speaking on the subject during an exclusive interview with Cointelegraph, Mohanty pointed out that in Singapore there is not much demand for a retail CBDC, given that payment system infrastructure in the country already allow fast and cheap payments among individuals.

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