“Second, the retail CBDC system will form part of Singapore’s national foundational digital infrastructure, which brings together payments, digital identity and data exchange and authorization and consent mechanisms to protect the privacy and welfare of individuals more holistically,” the report said. It will be fully interoperable with other payment systems.
Source: https://www.coindesk.com/policy/2022/10/31/monetary-authority-of-singapore-completes-phase-1-of-cbdc-project-with-more-trials-to-come/?utm_medium=referral&utm_source=rss&utm_campaign=headlines