Channel: CNA

Category: News & Politics

Tags: digital currenciescentral banksdecentralisationinteroperabilitycentral bank digital currenciescryptocurrenciescbdcravi menoncbdcscnamonetary authority of singaporedigital economymaschannel newsasia

Description: The Monetary Authority of Singapore's managing director Ravi Menon has called for central banks to design digital currency systems that work better with each other. He noted that this would bring unique benefits, especially for cross-border payments. Describing current banking networks and tools as "laborious" and "archaic", Mr Menon said using crypto assets could see seamless and secure services without the need for intermediaries. Subscribe to our channel here: cna.asia/youtubesub Subscribe to our news service on Telegram: cna.asia/telegram Follow us: CNA: cna.asia CNA Lifestyle: cnalifestyle.com Facebook: facebook.com/channelnewsasia Instagram: instagram.com/channelnewsasia Twitter: twitter.com/channelnewsasia