According to Bloomberg, the Bank of Canada and the Monetary Authority of Singapore have used blockchain technology to send digital currency to each other. This is the first time the two central banks have successfully conducted such an attempt. They said in a joint statement that the two sides have been working together to use distributed ledger technology and central bank digital currency to make the cross-border payment process cheaper, faster and safer. The test was mainly linked to the Bank of Canada's "Jasper Project" and the Ubin network project in Singapore. Accenture and JPMorgan participated in the test.