MAS Launches Live CBDC Pilot for Instantaneous Bank Settlements

MAS Unveils Live CBDC Pilot Program, Partners with Major Banks

MAS, Singapore's central bank, reveals a pilot program for a live wholesale CBDC, allowing local banks to settle payments instantaneously. The new partnerships include major financial institutions like BNY Mellon, HSBC and CitiGroup.

MAS Managing Director announces plans to partner with Singaporean banks to test CBDC for domestic payment settlements. The step aims to streamline clearing and settlement processes.