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The Bank for International Settlements and the central banks of France, Singapore and Switzerland released a report June 28 on a model for foreign exchange trading that uses decentralized finance technology.
In this weekly post, we round-up FinTech-related financial services regulatory developments for the week ending 26 May 2023.
When it comes to carrying value across illiquid currency corridors, the dollar is a sturdy mule. The enormous coordination and trust it will require to first create a global digital public good, and then agree on its ownership and governance, makes digital currencies a non-starter
The Federal Reserve Bank of New York’s New York Innovation Center and the Monetary Authority of Singapore published a research report detailing the results of the joint Project Cedar Phase II x Ubin+ (Cedar x Ubin+) experiment.
Blockchain-inspired technology can be used to execute more efficiently cross-border payments that involve multiple currencies. Read more at straitstimes.com.