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).
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
