For subscribers
Central bank digital currencies could disrupt financial systems
Sign up now: Get ST's newsletters delivered to your inbox
An industry effort led by the Monetary Authority of Singapore, dubbed Project Ubin, has successfully experimented with blockchain technology.
PHOTO: ST FILE
Follow topic:
SINGAPORE - The rise of private payment networks and cryptocurrencies is challenging central banks' control over the flow of money within the financial system, the broader economy and across borders.
A vast majority of central banks - including the Monetary Authority of Singapore (MAS) - are responding by exploring digital currencies of their own, noted a new survey by the Bank for International Settlements (BIS).
