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It aims to enable more efficient fundstransfer via Purpose Bound Money (PBM) when inbound tourists use Alipay+ payment partner apps for payments at GrabPay merchants in Singapore. ” The post Announced at Singapore FinTech Festival 2024: New Partnerships, Product Launches and Appointments appeared first on The Fintech Times. .
The PoC tested two DLT platformsCorda by R3 and Hyperledger Besu by Kaleidoevaluating their ability to support key processes such as issuance, redemption, and fundtransfers. Both platforms successfully met the 55 predefined test scenarios, demonstrating scalability, resilience, privacy, and fault tolerance.
To achieve this, the PoC focused on three key processes: issuance, redemption, and fundtransfers. The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system.
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