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Singapore Eyes Blockchain For Cross-Border Payments System

Singapore’s pioneering financial regulator is hopeful blockchain technology will be adopted as the new infrastructure underpinning interbank payments after a second successful wave of technical trials.

The Monetary Authority of Singapore (MAS) published a report on Tuesday discussing the second phase of Project Ubin, a project involving 11 financial institutions and five technology firms.

The project aims to explore whether distributed ledger technology (DLT) can be deployed within an interbank settlement system.

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