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Canada And Singapore Central Bank Use blockchain For Cross-border Payments

Liang CHE

Summary: The Central Bank of Canada and Singapore have completed trials using blockchain technology and central bank digital currency for cross-border payments. According to coindesk.com, the Bank of Canada (BoC) and the Singapore Monetary Authority (MAS) jointly announced the news, saying that the first test between the two central banks was very successful, which shows great ...

The Central Bank of Canada and Singapore have completed trials using blockchain technology and central bank digital currency for cross-border payments. According to coindesk.com, the Bank of Canada (BoC) and the Singapore Monetary Authority (MAS) jointly announced the news, saying that the first test between the two central banks was very successful, which shows great potential to "improve efficiency and reduce risk of cross-border payment."

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