<ul data-eligibleForWebStory="false"><li>Businesses aiming for success in the digital economy must consider FX-related risks and costs when expanding globally, with firms spending $120 billion on cross-border transaction fees.</li><li>Project Guardian, led by the Monetary Authority of Singapore, suggests implementing tokenised bank liabilities and shared ledgers in cross-border payments as a solution to reduce costs and enhance liquidity.</li><li>Key elements of the report include design principles for tokenised bank liabilities, risk mitigation for shared ledger-based payments, and real-world use cases demonstrating the benefits of tokenised payments in transaction banking.</li><li>Tokenised bank liabilities and shared ledgers have the potential to lower cross-border transaction costs by 12.5% by 2030, saving businesses over $50 billion. However, industry-wide adoption and a universally accepted framework are necessary for this innovation.</li></ul>

Project Guardian: Interoperability From Tokenised Bank Liabilities Could Save Firms $50bn in FX Fees

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