Drawing from the Project Orchid industry trials, this blueprint identifies key building blocks for the sound utilization of digital money in Singapore. The Orchid Blueprint, released by MAS on Thursday, outlines the necessary technology infrastructure to facilitate digital money transactions in the future, the release said. MAS is promoting three forms of digital money: wholesale CBDCs, tokenized bank liabilities and regulated stablecoins, according to the release. These initiatives encompass the development of a digital Singapore dollar infrastructure, expanding digital money trials, and the issuance of a “live” central bank digital currency (CBDC) for wholesale settlement, the MAS said in a Thursday (Nov.
The Monetary Authority of Singapore (MAS) has unveiled a series of initiatives aimed at ensuring the secure and innovative utilization of digital money in the country.
