Local exec says Singapore is exploring wholesale CBDC

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Sopnendu Mohanty, chief fintech officer of Singapore’s central bank and financial regulator, explains Singapore’s unique approach to crypto and blockchain. He noted that Singapore is exploring wholesale central bank digital currency (CBDC).

During an interview, He pointed out that “I don’t think we need to do any more experiments on wholesale CBDCs. Now, we should start thinking about going into production.”

In this interview they discuss the following questions:

*What is the rationale behind Singapore’s approach to crypto?

*What is Project Ubin’s phase 5? 

*Why does Project Ubin’s multi-payment network need blockchain technology? 

*What is Singapore’s stance toward CBDCs? 

*What is the purpose of MAS’ collaboration with China’s central bank on CBDCs? 

*What will be the implication of Singapore’s largest bank launching its own crypto exchange? 

*Why is MAS collaborating with Blockshow for the next Singapore Fintech Festival? 

This interview was published by cointelegraph.com on Nov 20,2020.

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