The ASEAN Financial Innovation Network (AFIN) is launching a central bank digital currency (CBDC) sandbox in collaboration with R3. AFIN is a non-profit backed by the Monetary Authority of Singapore (MAS), the World Bank’s International Finance Corporation (IFC), and the ASEAN Bankers Association.
The new sandbox will be part of the API Exchange (APIX) and enable central banks and regulators to experiment with CBDCs. The sandbox aims to support new payment rails that support CBDCs and multi-currency payment solutions using R3’s Corda enterprise blockchain.
“There has been an increasing interest in the deployment of blockchain technologies, which has created a strong demand for more efficient international payment settlements compatible with these technologies,” said Sopnendu Mohanty, MAS Chief FinTech Officer.
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