The Monetary Authority of Singapore will work with regional banks to pilot a wholesale central bank digital currency, the head of the Monetary Authority of Singapore said.
In addition, Monetary Authority of Singapore Director Menon said that digital asset payment infrastructure StraitsX has received preliminary approval for stablecoins from the Monetary Authority of Singapore. (Golden Ten)
According to previous news in May, digital asset payment infrastructure StraitsX launched the Singapore dollar stable currency XSGD on Hedra. Users can send and receive XSGD on the Hedera network through the StraitsX platform. The Hedra Foundation stated that XSGD may be listed on exchanges in the next few months.