MAS and Bank of Canada complete blockchain cross-border payment test

Pedro Gonçalves
clock • 1 min read

The Monetary Authority of Singapore (MAS) and the Bank of Canada have sent each other digital currencies using blockchain technology, in a first successful trial between two central banks that could make cross-border and cross-currency payments cheaper, faster and safer. The central banks have jointly published a report that proposes different design options for cross-border settlement systems, highlighting possible limitations and challenges. "Only through continued collaboration and fundamental research will it be possible for this technology to mature and for policy makers to fully...

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