ASEAN regional cooperation: the key to success for central bank digital currencies (CBDCs)

Southeast Asian countries are making progress in their plans to issue digital currencies with legal tender, or central bank digital currencies (CBDCs). FinanceAsia explores the implications of this shift.
July 13, 2021

The Monetary Authority of Singapore (MAS) and Banque de France (BdF) successfully executed a bilateral trade using CBDCs last week. The test run involved simulating cross-border transactions in multiple CBDCs (m-CBDC) on a common network between Singapore and France.

¬ Haymarket Media Limited. All rights reserved.

Nice choice! This is premium FinanceAsia content.

Subscribers can sign in for full unlimited access.

New user? Sign up for a one-time 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Related Articles

HKMA publishes findings of e-HKD pilot

Experts share insights around the value potential of a digital currency, following the HKMA’s publication of an initial report on the pilot.
October 31, 2023

HKMA launches e-HKD pilot

The regulator has teamed up with 16 market participants to explore the viability of CBDC implementation. However, questions around interoperability, monetary sovereignty and the role of the traditional banking system remain.
May 23, 2023

Hong Kong to expand e-CNY pilot

HKMA and the PBOC to further support the expansion of use cases of the digital yuan in Hong Kong, targeting local consumers and travellers.
January 30, 2024