SCOOP | SPECIAL COVERAGE] 🚨 NEW YORK CITY — 🕒
The Monetary Authority of Singapore and the Central Bank of the United Arab Emirates have announced the successful completion of a landmark cross-border transaction pilot using wholesale Central Bank Digital Currencies (CBDCs). 🇸🇬🤝🇦🇪
This historic technical milestone demonstrates the seamless integration of distributed ledger technology within sovereign financial infrastructures, marking a major leap forward for the global digital economy and international trade settlement. 🏛️💻🌐
The trial utilized a shared multi-CBDC platform to facilitate real-time, atomic settlement of high-value transactions, effectively eliminating the traditional delays and complexities associated with legacy correspondent banking networks and intermediary clearing systems. ⚡🏦⛓️
