Singapore's MAS Starts Wholesale CBDC Project With French and Swiss Central Banks

Project Mariana, the measure aimed at foreign exchange and liquidity management, involves MAS, the central bank of France, Banque de France, and the central bank of Switzerland, Swiss National Bank, along with the Bank for International Settlements (BIS) Innovation Hub centres. The project will explore foreign exchange transactions with Swiss franc, Euro and Singapore dollar.

Previously, the Monetary Authority of Singapore started a new initiative called Ubin+ aimed at exploring the use of CBDC for cross-border currency transactions.