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Singapore and China are making significant strides in the use of digital currencies. The Monetary Authority of Singapore (MAS) is piloting a live wholesale Central Bank Digital Currency (CBDC) for settlements with local banks. Additionally, Singapore has linked its system to enable real-time money transfers with Indonesia. Meanwhile, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) has utilized China's digital yuan (e-CNY) for the first time to settle an oil transaction. China's digital yuan is gaining prominence as it becomes a crucial component of the country's foreign policy and technological advancements. The People's Bank of China is also testing digital yuan payment and settlement integration in Hong Kong. MAS is commencing pilots to test tokenization use cases with major financial services firms.
.@MAS_sg is commencing a set of pilots to test tokenization use cases alongside several major financial services firms. https://t.co/OLwM6orvgJ
The #Shanghai Petroleum and Natural Gas Exchange (SHPGX) has announced utilising the #digitalyuan, #China’s central bank #digital #currency (CBDC), e-CNY, for the first time to settle an #oil transaction, notes Sauradeep Bag https://t.co/BAFAqrhdqJ
The recent conflicts in #WestAsia and #Europe have brought focus to the complex relationship between #cryptocurrency and global affairs, states Sauradeep Bag https://t.co/mFCUn7CRzM
People's Bank of #China Tests Digital #Yuan Settlement Integration in Hong Kong #CBDC https://t.co/0HNvmdLLvp
As #China bolsters its influence on the world stage through foreign policy and #technological advancements, the launch of the #digital #yuan becomes a crucial component in its journey, writes Sauradeep Bag https://t.co/BAFAqrgFBb
People's Bank of #China Tests Digital #Yuan Payment Integration in Hong Kong #CBDC https://t.co/0HNvmdLLvp
In 50 Words: Indonesia’s ecommerce growth slows, hits 7-year low in funding https://t.co/svAhtFNkMv
#China has been actively working on the #development and #adoption of its #digital #currency for several years, and this recent transaction reflects the ongoing progress of this initiative, notes Sauradeep Bag https://t.co/BAFAqrhdqJ
The recent conflicts in #WestAsia and #Europe have brought focus to the complex relationship between #cryptocurrency and global affairs, states Sauradeep Bag https://t.co/mFCUn7Dppk
As #China bolsters its influence on the world stage through foreign policy and #technological advancements, the launch of the #digital #yuan becomes a crucial component in its journey, writes Sauradeep Bag https://t.co/BAFAqrgFBb
In 50 Words: Indonesia, Singapore launch cross-border QR payment system https://t.co/Mxff7kDvvk
Singapore linked its system to enable real-time money transfers with Indonesia as a boost to economic connectivity https://t.co/fyywLAhb4A
Singapore linked its system to enable real-time money transfers with Indonesia as a boost to economic connectivity https://t.co/IYYwVVIxQn
Singapore linked its system to enable real-time money transfers with Indonesia as a boost to economic connectivity https://t.co/LiU1g3ceJY
Monetary Authority of #Singapore Announces Global Tokenization Initiative in Partnership With #BNY Mellon, #DBS, #JPMorgan, and #MUFG https://t.co/DLn7p5m63r
Cheap yuan catapults China to second-biggest trade funding currency https://t.co/VOJxgl7ExE https://t.co/M7IsQWYBi1
The #Shanghai Petroleum and Natural Gas Exchange (SHPGX) has announced utilising the #digitalyuan, #China’s central bank #digital #currency (CBDC), e-CNY, for the first time to settle an #oil transaction, notes Sauradeep Bag https://t.co/BAFAqrhdqJ
Three initiatives from @MAS_sg will test the utility of digital money in Singapore, including the pilot of a live wholesale CBDC to be used by local banks for settlements. https://t.co/MH7AsXdNOr