Being part of the DDEx ecosystem, FOMO Pay intends on leveraging its institutional grade digital custodian and exchange services supported by DBS Bank to enable its merchants to accept payments in crypto and keep their funds safe. DBS Bank will extend the custodian services to enable FOMO Pay to equip merchants to accept crypto payments in a safe manner.
Monetary Authority of Singapore oficials said that the central bank is carefully studying the economic merits and implications of a retail centralised banking digital currency (CBDC) in the Singapore context. They added that a digital Singapore dollar could possibly foster an efficient and inclusive payment ecosystem where it would be easier for smaller firms to build new payments and related digital services.
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