Monetary Authority of Singapore and Mojaloop Foundation to Support the Financially Underserved with Digital Currency Settlement Systems
The
Monetary Authority of Singapore (MAS) and the
Mojaloop Foundation revealed on Wednesday (May 26, 2021) that MAS will be joining the Mojaloop Foundation as a
Sponsor-level member in order to collaborate on offering the underserved access to “affordable” financial services via digital currency based settlement systems and foundational digital infrastructure.
MAS is reportedly the first central bank to join the Mojaloop Foundation.
As mentioned in the announcement, the Mojaloop Foundation aims to improve through financial inclusion the “economic well-being” of the world’s 1.7 billion unbanked adults. Mojaloop’s open-source software aims to serve as a blueprint for organizations to develop interoperable digital payment systems while supporting digital financial services for everyone.
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MAS joins Mojaloop Foundation
Source: Mojaloop Foundation The Monetary Authority of Singapore (MAS) and the Mojaloop Foundation announced today that MAS is joining the Mojaloop Foundation as a Sponsor-level member to collaborate on providing the underserved access to affordable financial services through digital currency based settlement systems and foundational digital infrastructure. MAS is the first central bank to join the Mojaloop Foundation.
The Mojaloop Foundation seeks to improve through financial inclusion the economic well-being of the 1.7 billion unbanked adults in the world. Mojaloop s open-source software serves as a blueprint for organisations to build interoperable digital payment systems, and enable digital financial services for all.
<p><span>The <a href="http://www.mas.gov.sg/" target=" blank" class="mas-link"><span class="mas-link text">Monetary Authority of Singapore (MAS)</span> <span class="mas-icon mas-glyphs-external link"></span></a> and the Mojaloop Foundation announced today that MAS is joining <a href="https://mojaloop.io/" target=" blank" class="mas-link"><span class="mas-link text">the Mojaloop Foundation</span> <span class="mas-icon mas-glyphs-external link"></span></a> as a Sponsor-level member to collaborate on providing the underserved access to affordable financial services through digital currency based settlement systems and foundational digital infrastructure</span><span>. MAS is the first central bank to join the Mojaloop Foundation.</span>
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