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Singapore’s central bank governor: The future monetary system will consist of CBDC, tokenized bank liabilities and “well-regulated” stablecoins

According to a report from Jinse Finance, Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), also known as the Singapore Central Bank, stated at the "Future of Monetary Systems" panel discussion at the Hong Kong Monetary Authority-International Bank for Settlements event that the future monetary system will consist of three key components: central bank digital currencies, tokenized bank liabilities, and "well-regulated" stablecoins. Private digital currencies "fail the currency test because they are not a store of value". No one puts their life savings into these things. People buy and sell these things to make a quick buck. Private cryptocurrencies, as native digital tokens, do not pass this test, so I think they will eventually exit the stage.

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