Singapore’s central bank has completed its first live test of settling overnight interbank loans using a wholesale central bank digital currency.
The Monetary Authority of Singapore (MAS) has concluded the live trial of wholesale c entral b ank d igital c urrency for settling interbank overnight lending on the Singapore Dollar Test Network ( SGD T estnet ) . SGD T estnet is a shared ledger infrastructure designed for financial institutions The pilot, conducted with major banks DBS, OCBC and UOB, included the first live issuance of Singapore dollar wholesale c entral b ank d igital c urrency , with transactions reflected