According to PANews, Bank Negara Malaysia is working with local financial institutions to study the potential of wholesale central bank digital currency through proof of concept, aiming to optimize the wholesale payment system RENTAS.
Bank Negara Malaysia also participates in several cross-border wholesale digital currency projects led by the Innovation Centre of the Bank for International Settlements, such as the Dunbar Project, Mandala Project, Rialto Project and mBridge Project, mainly as an observer.
These projects explore the application of distributed ledger technology and central bank digital currency to improve cross-border payment efficiency. Participating in these projects aims to deepen the understanding of central bank digital currency and lay the foundation for future development.