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Federal Reserve Bank of New York, Monetary Authority of Singapore Test wCBDC for Cross Border Payments Federal Reserve Bank of New York, Monetary Authority of Singapore Test wCBDC for Cross Border Payments Tekedia -

A partnership with Singapore authorities and a project with a network of banks aim to demonstrate the viability and interoperability of central bank digital currencies.

The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.