Monetary authorities are finally taking crypto seriously – perhaps too seriously.The idea of fiat currency is something of a historical anomaly. Around 5,000 years ago, shiny metals became a store of value for goods and services. Those were soon fabricated into standardized tokens, becoming media of exchange. It wasn’t for another 2,000 years, though, that anyone engraved the … [Read more...] about CBDCs are coming. Privately created stablecoins need to come faster
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Retail-focused Singaporean CBDC to hedge against privately issued stablecoins
The Monetary Authority of Singapore (MAS) has ramped up efforts to research and develop a central bank digital currency (CBDC) for retail use under the Project Orchid initiative. According to MAS managing director Ravi Menon, Singapore’s retail CBDC will be developed in a partnership with private entities, which “would be the digital equivalent of today’s notes and … [Read more...] about Retail-focused Singaporean CBDC to hedge against privately issued stablecoins