Conference-goers who visited OCBC's booth display during the Singapore Fintech Festival 2023 were in for a treat: they were the first to get a taste of how the Monetary Authority of Singapore (MAS)' central bank digital currencies (CBDCs) could be used for instantaneous interbank settlement. Visitors were able to avail of 5 Digital Singapore Dollars from OCBC, which they were then able to spend at the UOB booth. The Digital Singapore Dollars were issued by OCBC and UOB and are fungible across each other.
Whilst such digital novelties may seem routine to a country where almost 1 in 2 payment transactions are done electronically, the real magic lies behind the scenes: atomic settlement. Institutions, such as OCBC and UOB in this case, will no longer need to wait days for the transaction to be settled in the back end. It can happen instantaneously.
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この記事は Asian Banking & Finance の Issue 113 版に掲載されています。
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この記事は Asian Banking & Finance の Issue 113 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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