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Will Singapore launch a people’s digital currency and support DeFi?
As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.
As public interest in cryptocurrencies and decentralized finance (DeFi) grows by leaps and bounds, the politicians in Singapore, too, want to understand what the underlying blockchain technology is all about.
Notwithstanding the current crypto market dip, the total market value of cryptocurrencies stands at over US$2 trillion and more than US$140 billion remain locked into DeFi protocols.