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Singapore Central Bank funds blockchain project

Thursday 2 July 2015 14:09 CET | News

The Monetary Authority of Singapore has funded a blockchain-based record-keeping system as part of a five-year investment plan aimed at financial technology.

The USD 225 million in funding is part of a broader effort by the Singapore government to spark innovation in the countrys financial sector.

MAS intends to streamline compliance processes to reduce compliance costs, automate financial monitoring, invest in education initiatives and engage in outreach with financial tech startups.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, blockchain, Singapore
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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