Blockchain
RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT
The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA), the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments. This
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DLT Could Be Game-Changer for High-Value Transactions, Says Oliver Wyman Report
A recent report from the Oliver Wyman Forum, presented at the Singapore Fintech Festival, discusses the significant impact of distributed ledger technology (DLT) on high-value financial transactions, such as payments and investments. This technology, the report suggests, could potentially disrupt
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UBS, SBI, and DBS Pioneer World’s First Blockchain-based Repo Transaction
UBS, SBI, and DBS have successfully completed the world’s first live repurchase transaction (repo) using a digitally issued bond on a public blockchain. This development represents a step forward in integrating blockchain technology into mainstream financial practices. The groundbreaking transaction,
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Project DESFT to Empower MSMEs in Global Trade with Blockchain-Based Credentials
At the Singapore Fintech Festival 2023 (SFF 2023), the Solv Foundation announced the launch of Project DESFT, a blockchain-based digital credential platform. The initiative is a joint effort with the Monetary Authority of Singapore (MAS) and the Bank of Ghana
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HSBC and Metaco to Offer Digital Assets Custody Service for Institutional Clients
HSBC is set to introduce a new custody service for managing digital assets like tokenised securities, aimed at its institutional clients. This service is expected to start in 2024 and will work alongside HSBC‘s existing digital platforms, including Orion for
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Japan’s SBI and UBS Complete Tokenised Fund Pilot
SBI Digital Markets, the digital asset arm of Japanese conglomerate SBI Group, and UBS Asset Management have completed a technical pilot for the issuance and distribution of a tokenised Variable Capital Company (VCC) fund. This is a part of the
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Singapore, China, & Cambodia Lead the Pack in CBDC Development
In Asia, central banks and monetary authorities are rushing to develop and deploy central bank digital currencies (CBDCs), a technology that they believe is central to their transition to a digital economy, a new report by the Asian Development Bank
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UBS Asset Management Launches First Blockchain-Native Tokenized VCC Fund Pilot in Singapore
UBS Asset Management has launched its first live pilot of a tokenized Variable Capital Company (VCC) fund. The fund is part of a wider VCC umbrella designed to bring various “real world assets” on-chain as part of Project Guardian, a
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Coinbase Singapore Receives Major Payment Institution Licence from MAS
Coinbase Singapore has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). This follows its initial In Principle Approval and facilitates an extended offering of Digital Payment Token services in Singapore. Singapore’s growing role
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BIS, France, Singapore, and Switzerland Report Success in Cross-Border Wholesale CBDCs Test
The Bank for International Settlements (BIS), in collaboration with the central banks of France, Singapore, and Switzerland, have concluded “Project Mariana“. This project examined the cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) using state-of-the-art decentralized finance
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