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TripleA powers the backend of Project Orchid during the Singapore Fintech Festival

We are proud to be selected as an industry player to support Monetary Authority of Singapore (MAS)'s Project Orchid. 

"GrabPay, the super app’s payment service, is also working with StraitsX and crypto payment gateway TripleA to accept StraitsX's Singapore dollar stablecoin, XSGD, on the Polygon chain and reflect it as SGD in participating merchants’ GrabPay accounts."

Project Orchid was launched in November last year, with the aim to build the technical capabilities and competencies necessary for Monetary Authority of Singapore (MAS) to issue a retail CBDC, should the need arise. Phase 1 of Project Orchid explores Purpose Bound Money (PBM),which builds upon the concept and capabilities of programmable payment and programmable money.

TripleA is part of the trial during the Singapore FinTech Festival this week, powering the backend of Project Orchid, processing XSGD payments on behalf of merchants.

Learn more about Project Orchid and purpose-bound digital Singapore dollars (SGD) here: https://lnkd.in/gvvws6qG

SOURCE: TripleA

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