Singapore Monetary Authority: XRP has no real benefit for Singapore, but still wants to improve the overall efficiency of cross-border payments

Sopnendu Mohanty, chief financial officer of the Singapore Monetary Authority (MAS), said at the Massachusetts Institute of Technology (MIT) blockchain business in 2019 that Ripple and the Indian National Bank Group (SBI Group) established MoneyTap (XRP-based transfers) The program, and Ripple's cryptocurrency XRP, is difficult for Singapore to see tangible benefits, but in terms of cross-border payments, it still hopes to improve overall efficiency.