Cross-border payments: Trial shows safe, fast settlements with distributed ledger technology
Автор: CNA
Загружено: 2023-05-19
Просмотров: 4827
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A joint study by the Monetary Authority of Singapore (MAS) and the New York Federal Reserve shows that distributed ledger technology (DLT) can be used to improve the efficiency of cross-border payments. The study experimented with using central bank digital currencies to settle payments. MAS said they found that DLT can help settle cross-border payments safely without the need for a central clearing authority and can achieve this in close to real-time. It also allows transactions across multiple currency ledgers, while maintaining autonomy in each network. Alan Lim, Deputy Director and Division Head of the FinTech Infrastructure Office at MAS, shared more details.
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