At the end of the Singapore Fintech Festival, the winners of a global CBDC challenge have been announced.
In Brief:
The Monetary Authority of Singapore (MAS) launched a central bank digital currency challenge earlier this year.
The aim was to develop retail CBDC solutions.
The winners were Consensys, Criteo and Giesecke+Devrient.
What does this mean?
The competition aimed to find solutions that increase payment efficiencies, improve financial inclusion and support digitalisation across economies.
They'll each receive S$50,000 in prize money.
