Malaysian Central Bank Explores Bitcoin and XRP as Potential Monetary Alternatives

Bank Negara Malaysia has released a working paper exploring scenarios in which cryptocurrencies — specifically Bitcoin (BTC) and Ripple (XRP) — could replace cash in circulation or bank deposits, and become widely used payment methods outside the traditional banking system.

The paper highlights BTC’s decentralization and censorship resistance, and XRP’s speed and low transaction costs for cross-border payments. However, the report notes that clear regulations, consumer protection, reduced volatility, and robust infrastructure are necessary before such assets could achieve mass adoption.

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