Thailand, UK and Singapore central banks test linking traditional and tokenized FX settlement

The public institution that manages a country's currency, money supply and benchmark interest rate, such as the Federal Reserve or the Reserve Bank of India.

Its decisions on rates and money supply move loan costs, currencies and markets for everyone in the economy.

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.