Canadian and Singaporean Central Banks Conduct Successful Cross-Border Payment Experiment Using Distributed Ledger Technology

On May 2, 2019, the Bank of Canada and the Monetary Authority of Singapore (MAS) jointly published a report titled “Jasper-Ubin Design Paper: Enabling Cross-Border High Value Transfer Using Distributed Ledger Technologies (HTLC)”. The report has been published in parallel with an announcement from the Bank of Canada and the MAS that they have successfully carried out testing on cross-border and cross-currency payments using central bank digital currencies.

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