Singapore is developing a wholesale central bank digital currency (CBDC) that would enable settlements of securities and payments among financial institutions, according to Sopnendu Mohanty, the chief fintech officer of the city-state’s finance watchdog. In an interview with Cointelegraph, Mohanty said there is limited demand for a retail CBDC because the country’s payment system infrastructure already enables rapid, low-cost transactions among individuals, so the focus has been on a wholesale CBDC, and the project is moving forward quickly. “I don’t think we need to do any more experiments on wholesale CBDCs,” said ... (full story)