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MAS’ Whitepaper to Improve Online Retail Payments

The whitepaper also explores the use of CBDCs, tokenized bank deposits and stablecoins as part of an “open ecosystem” for digital payments. Amazon, FAZZ and Grab have already begun piloting the system with an escrow arrangement for online retail payments, while DBS is trialing a similar program. The proposed digital asset ecosystem could help facilitate efficient transactions, enhance financial inclusion and unlock economic value. It could also reduce the need for customers to use cash or credit cards, and offer benefits such as low transaction fees and faster payments.

MAS’ Whitepaper Aims to Unlock Economic Value of Digital Assets

The Monetary Authority of Singapore (MAS) has collaborated with the IMF, Banca d’Italia and the Bank of Korea to develop a whitepaper that

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• The Monetary Authority of Singapore (MAS) has collaborated with the IMF, Banca d’Italia and…

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