The Monetary Authority of Singapore does not see a “compelling case” for issuing a retail central bank digital currency (CBDC), Ravi Menon said on August 29. “The case for a retail CBDC in Singapore is not compelling for now, given well-functioning payment systems and broad financial inclusion,” the MAS managing director said.
“Retail electronic payment systems are fast, efficient, and at zero cost, while a residual amount of cash remains in circulation and is unlikely to disappear.”
