The Monetary Authority of Singapore announces three measures related to digital currencies.

BlockBeats news on November 16th, the Monetary Authority of Singapore (MAS) announced today three initiatives to ensure the safe and innovative use of digital currencies in Singapore, including: outlining the blueprint for the necessary infrastructure for digital Singapore dollars, expanding digital currency trials, and planning to issue a "real-time" central bank digital currency (CBDC) for wholesale settlement. The three forms of digital currency being promoted by MAS in Singapore are wholesale CBDC, tokenized bank liabilities, and regulated stablecoins. At the same time, MAS today released the Orchid blueprint, which outlines the technical infrastructure required to promote digital currency transactions in the future, including settlement ledgers, tokenization bridges, programmable protocols, and naming services. To test the widespread applicability of PBM and digital currencies in Singapore, MAS will expand the digital currency trial of the Orchid project and conduct four new trials with the industry. To supplement digital currency trials involving retail and corporate users in the financial industry, MAS will begin developing a wholesale CBDC for interbank settlement next year.