Central banks complete first blockchain currency swap

Monetary Authority of Singapore and Bank of Canada link experimental local payment networks

blockchain concept

The Monetary Authority of Singapore and the Bank of Canada announced that they completed the first international cross-currency payment with digital currencies between central banks on May 2.

The central banks successfully connected their experimental national payment networks, both based on different distributed ledger technology (DLT) platforms. The Bank of Canada’s Project Jasper and the MAS’s Project Ubin transferred $105 Singapore dollars between a bank in Singapore and in Canada. The

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