Singapore to pilot use of wholesale central bank digital currencies in 2024

Ravi Menon, managing director of Monetary Authority of Singapore, speaks during the Singapore FinTech Festival in Singapore, on Thursday, Nov. 16, 2023. The festival runs through Nov. 17. SINGAPORE — Come 2024, Singapore will pilot the live issuance and use of wholesale central bank digital currencies, said Ravi Menon, managing director of the Monetary Authority of Singapore. "We will take our experiments a step further next year," said Menon at Singapore FinTech Festival 2023 on Thursday, without specifying more details on the timeframe. "I'm pleased to announce that MAS will...