Comment on Project Ubin, the Singaporean money authority’s blockchain initiative, moves closer to commercialization

Project Ubin, the Singaporean money authority’s blockchain initiative, moves closer to commercialization

The Monetary Authority of Singapore (MAS) and state investment firm Temasek announced today that Project Ubin, its blockchain-based multi-currency payments network, has proven its commercial potential after tests with more than 40 companies. The initiative was launched in 2016. A prototype developed by Temasek and J.P. Morgan began undergoing testing last year to see how well it would integrate with commercial blockchain applications. A report released today, commissioned by MAS and Temasek, said Project Ubin’s prototype was validated through workshops with more than 40 financial and non-financial firms.

 

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