Monetary Authority of Singapore Wants to Support Blockchain and Fintech Startups

Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) spoke about the MAS completing their first blockchain pilot covering interbank payments; Menon stated, “The killer app is really to go cross-border. If we can make a blockchain-based system support payments from one country to another, that could be potentially transformative in bringing costs down.”; he also spoke about the increasing understanding of fintech by CEOs of major banks and how the MAS supports partnerships between banks and fintechs. Source

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