SINGAPORE (Oct 5): A consortium led by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced Thursday that it has successfully developed software prototypes of three different models for decentralised interbank payment and settlements with liquidity savings mechanisms.

The three software models are among the first in the world to implement decentralised netting of payments in a manner that preserves transactional privacy.

While existing netting programmes used in inter-bank payments rely on a single payment queue visible to the operator to find offsetting payments, decentralising the queue potentially exposes payment details to an unauthorised party.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook