The Monetary Authority of Singapore and the People’s Bank of China are launching a pilot program to allow travelers from the two countries to use dig

On December 8th, the Monetary Authority of Singapore (MAS) announced new digital finance and capital market initiatives, including a cross-border digital RMB pilot between China and Singapore to expand financial cooperation with China.
Following the signing of a memorandum of understanding (MOU) on digital finance cooperation between the Monetary Authority of Singapore and the Digital Currency Research Institute of the People's Bank of China in 2020, the Monetary Authority of Singapore and the People's Bank of China are conducting a pilot that allows tourists from both countries to use digital RMB for tourism consumption in Singapore and China.