BNM dey explore XRP and Bitcoin as payment alternatives

Bank Negara Malaysia (BNM) don publish one working paper wey dey look private digital tokens, especially XRP and Bitcoin, as possible substitute or partner for traditional banking deposits plus currency wey dey circulate. The report talk say XRP get quick settlement and low transaction cost wey fit make am strong for cross-border and everyday payment matter, meanwhile Bitcoin decentralised nature and how e dey change-price fit make am act as digital store of value. BNM highlight challenges wey fit block adoption like regulatory clarity, compliance with monetary policy, consumer protection, liquidity pool requirements, scalability without central middlemen, plus strong infrastructure to handle plenty transactions. The paper also discuss pilot programmes, how e fit work with central bank digital currencies (CBDCs), and frameworks wey fit follow Islamic finance rules. Even though e get risk of disintermediation, price waka and infrastructure wahala, BNM analysis dey show say dem optimistic say private cryptocurrencies get transformative power for Malaysia payment space. Traders suppose watch regulatory developments, how XRP and Bitcoin dey adopted plus liquidity efforts to get better understanding of market trends and trading chances.