![]() ![]() An international settlement network, modelled after this payments network prototype, could enable faster and cheaper transactions than conventional cross-border payments channels. The multi-currency payments network prototype developed under Project Ubin Phase 5 successfully settled payments in different currencies on the same network.These benefits were validated through workshops conducted with more than 40 financial and non-financial firms engaged in Phase 5 of Project Ubin.ģ The key findings of the report include. The report “ Project Ubin Phase 5: Enabling Broad Ecosystem Opportunities (3.53 MB)”, provides technical insights into the blockchain-based multi-currency payments network prototype that was built and describes how the network could benefit the financial industry and blockchain ecosystem.Ģ The report, which Accenture was commissioned to publish, examines the use of blockchain technology in commercial applications across different industries, and how these applications could benefit from integrating with the blockchain-based payments network prototype developed. Please see link to MAS’ media release for more details. Singapore, 13 July 2020… The Monetary Authority of Singapore (MAS) and Temasek today jointly released a report to mark the successful conclusion of the fifth MAS announced the fifth phase of Project Ubin on 11 November 2019, following the successful development of a blockchain-based prototype for multi-currency payments. World’s largest festival for the FinTech community to connect, collaborate and co-createįast track intellectual property protection through various initiativesĪ collaborative AI-driven global solutions hub to foster SME digitalisationįind out how Singapore can be a leading centre for Green and Sustainable Finance ![]() Industry collaboration that explores blockchain’s usage for Central Bank Digital Currency Understand the various initiatives for technology solutions and projects in Green Finance. World’s first open architecture platform for FIs to discover FinTechs and deploy solutions Various payment initiatives including SGQR, FAST and PayNow Sandbox relaxes regulatory requirements to enable live experiments of innovation Get funding on proof-of-concepts, hiring, business development and more Latest information on MAS’ FinTech strategy, initiatives and funding schemes ![]()
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