The Monetary Authority of Singapore (MAS) and the New York Fed, New York Innovation Center (NYIC) will commence a cooperative investigation with wholesale central bank digital currencies (wCBDCs). The potential of the wCBDC for international wholesale payments is being eagerly tested by regulators. MAS Collaborated With New York Fed on wCBDCs The MAS declared the beginning of Project Cedar Phase II x Ubin+ on November 11. According to their framework, wCBDCs will be used as a settlement asset in cross-border, cross-currency transactions by NYIC (New York Fed) and MAS. The objective is to evaluate wCBDCs’ potential capacity to lower risk The post Singapore MAS and New York Fed Team Together to Research wCBDCs appeared first on Cryptoknowmics-Crypto News and Media Platform .
