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The service will initially support stablecoins such as USDT and USDC, allowing users to send money as easily as sending a message. Transactions are free of charge, with near-instant settlement, although transfers are subject to compliance and risk controls. OKX plans to add support for more stablecoins over time.
In parallel, Singapore remains an active participants in Project Nexus , an initiative spearheaded by the Bank for International Settlements (BIS) to enhance global payments network connectivity. 2024 also saw stablecoin adoption pick up pace, following regulatory updates in late 2023.
Digital money, digital assets and tokenization MAS is envisioning a future financial ecosystem that’s characterized by a network of interoperable systems, facilitating instantaneous and seamless payment, clearing and settlement. Payments remained the largest fintech verticals with 146 companies, followed by blockchain and Web3.0 (136),
DigiChain Innovations (Australia) DigiChain Innovations is a full-fledged web 2.0 Finally, the solution integrates the use of stablecoins for instant settlement by enabling real-time, secure payments through stablecoins once escrow conditions in the smart contract are met.
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