![MAS’ Ravi Menon Calls Cryptocurrencies a Failure, Backs CBDCs and Stablecoins MAS’ Ravi Menon Calls Cryptocurrencies a Failure, Backs CBDCs and Stablecoins](https://digitallifegaming.com/wp-content/uploads/2023/11/PRAHYEBV2FFVXH6LYLLB2QN7ZU-768x402.jpg)
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Menon mentioned how Project Guardian, led by MAS and industry partners, is tokenizing foreign exchange, bonds, and funds to enhance global liquidity, streamline cross-border transactions, and improve operational efficiency in financial markets, with trials by major global banks.
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