Bank Negara Malaysia is actively researching the potential of wholesale central bank digital currencies

According to PressReader, the National Bank of Malaysia is partnering with several local financial institutions to conduct a Proof of Concept (POC) study on the potential of wholesale central bank digital currencies, with the aim of optimizing Malaysia's wholesale payment system RENTAS. Bank Negara Malaysia also actively participates in multiple cross-border wholesale digital currency and innovation projects led by the BIS Innovation Hub, such as the Dunbar, Mandala, Rialto, and mBridge programs, and primarily serves as an observer in these projects. These projects delve into the application of distributed ledger technology (DLT) and central bank digital currencies to enhance the efficiency of cross-border payments It is reported that the original intention of Bank Negara Malaysia's participation in these projects is to deepen the understanding of central bank digital currencies among institutions and the financial industry, laying the foundation for future potential development.