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MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

Fintech

MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

Stanislaus Jude Chan Published on Thu, Oct 05, 2017 / 3:29 PM GMT+8

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SINGAPORE (Oct 5): A consortium led by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced Thursday that it has successfully developed software prototypes of three different models for decentralised interbank payment and settlements with liquidity savings mechanisms.

The three software models are among the first in the world to implement decentralised netting of payments in a manner that preserves transactional privacy.

While existing netting programmes used in inter-bank payments rely on a single payment queue visible to the operator to find offsetting payments, decentralising the queue potentially exposes payment details to an unauthorised party.

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MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

Fintech

MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

Primary tabs

Error message

MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

Fintech

MAS-led consortium develops 3 software prototypes for inter-bank payments using blockchain

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