Today the Monetary Authority of Singapore (MAS) announced 15 finalists for its Global CBDC Challenge to find the best solutions for retail central bank digital currencies (CBDC). Singapore has not committed to launching a CBDC itself. The initiative was launched in conjunction with the World Bank, the IMF and other global institutions.
“The Global CBDC Challenge aims to discover and develop retail CBDC solutions that will benefit the global community,” said Sopnendu Mohanty, MAS Chief FinTech Officer. “There was a healthy diversity of solution approaches across the different problem statement categories.”
The finalists were whittled down from 300 applications and include a mixture of big banks, tech organizations already heavily involved in CBDC initiatives, and a few new names.
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