Ravi Menon, Director General of the Monetary Authority of Singapore, pointed out that tokenization technology can solve many problems of cross-border payments, and central banks should use current research and future cooperation to solve the biggest problem of cross-border payments, that is, settlement barriers. Ravi Menon said that the use of tokenization technology will make payments smoother, but there must be a sound regulatory framework, through the implantation of smart contracts, regulatory requirements and other rules can be put on the blockchain, because international regulation shoul