Wholesale CBDCs can “radically” transform cross-border payments – MAS chief
Speaking at the Singapore Fintech Festival, MAS’ managing director shared his thoughts on the potential benefits and risks of CBDC adoption, as well as the bank’s stance.
Managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, is optimistic about the potential for wholesale central bank digital currencies (CBDCs) to speed up cross-border transactions, but he does not see an urgent need to deploy CBDCs for retail use.
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