While blockchains continue to revolutionize payments by allowing instant transfers, Singapore’s central bank believes three business days is a “timely transfer” for single-currency stablecoins (SCS), similar to transfer speed requirements for domestic money transfers.
On Aug. 15, the Monetary Authority of Singapore (MAS) released its regulatory framework for stablecoins in the city-state. In the newly-published guidelines, the financial regulator highlighted that it would consider three business days as a timely transfer for SCS despite some feedback calling for a shorter time frame.