The test network provides three functions designed to improve efficiency. This includes a common settlement asset to reduce market fragmentation, programmability that enables real-time execution of contractual terms, and support for simultaneous settlement of cash and securities to eliminate timing mismatches that create risk.
The Monetary Authority of Singapore (MAS) has announced the completion of a live trial of wholesale Central Bank Digital Currency (CBDC) for interbank overnight lending and released proposed rules for artificial intelligence (AI) use across the financial sector.
"DBS, OCBC and UOB have successfully conducted interbank overnight lending transactions using the first live trial issuance of Singapore dollar wholesale CBDC," says Chia Der Jiun, managing director at MAS, at the Singapore FinTech Festival 2025 this morning.
