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The 15 finalised projects will now receive direct mentoring from the central bank of Singapore and prototype their solutions in the APIX Digital Currency SandboxThe Monetary Authority of Singapore (MAS) has announced the 15 finalists who have been shortlisted from over 300 submissions across 50 countries in the Global CBDC Challenge.Retail CBDC projects like the ones being supported by MAS seek to serve as a medium for settlement at point of sale both online and offline.

Central bank digital currencies are the digital versions of fiat money that enable countries to promote cashless transactions.is aimed at the development of an in-house retail central bank digital currency (CBDC) by creating solutions to address concerns surrounding the instrument.Only three projects will be chosen as the winners of the contest and will take part in the deployment of a retail CBDC in Singapore.

The finalists will now receive direct mentoring from the central bank of Singapore and prototype their own CBDC solutions in the APIX Digital Currency Sandboxwith some coins performing well while others struggleThe general cryptocurrency market is experiencing a mixed performance at the moment.

The bearish performance could continue with EOS and the broader cryptocurrency space over the next few hours until the bulls regain control of the market.

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