Home News Fintech

MAS, JP Morgan, Temasek jointly develop prototype for multi-currency payments

Uma Devi
Uma Devi11/11/2019 01:26 PM GMT+08  • 2 min read
MAS, JP Morgan, Temasek jointly develop prototype for multi-currency payments
SINGAPORE (Nov 11): The Monetary Authority of Singapore (MAS), global investment bank JP Morgan and local sovereign fund Temasek have jointly developed a blockchain-based prototype that enables payments to be carried out in multiple currencies on the same
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 11): The Monetary Authority of Singapore (MAS), global investment bank JP Morgan and local sovereign fund Temasek have jointly developed a blockchain-based prototype that enables payments to be carried out in multiple currencies on the same network.

MAS says that the payments network has the potential to improve cost efficiencies for businesses, and is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications.

It will also offer additional features to support use cases such as Delivery-versus-Payment (DvP) settlement with private exchanges, conditional payments and escrow for trade, as well as payment commitments for trade finance.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now