BNM Talk Say XRP and BTC Na Cash Alternatives
Bank Negara Malaysia (BNM), di Central Bank for Malaysia, don officially recognize XRP and Bitcoin as possible cash alternatives. Di document dey classify public and private monies, dey highlight decentralized tokens as future payment tools. Di highlighted part of di BNM paper link XRP and Bitcoin to money aggragates M1 to M3. E still mention Project Mawar, BNM proof-of-concept wey dey explore CBDC use cases. Even though di reference boost XRP status, di bank warn say challenges dey. Decentralized tokens need plenty liquidity reserves to settle well. Liquidity and interoperability still be big wahala. For traders, dis recognition from Central Bank of Malaysia fit increase XRP and Bitcoin market legitimacy. But for wide adoption, dem need overcome technical and regulatory barriers.
Bullish
Bank Negara Malaysia wey clearly talk about XRP and Bitcoin for one official policy paper na big regulatory sign. Based on history, like when regulators approve Bitcoin ETFs for the US, prices jamp to sky and trading volumes increase. Traders fit see this as regulator no too dey confuse again and a clear sign say institutions fit dey start use XRP.
For short term, we fit expect traders to begin dey buy XRP and Bitcoin speculation as dem dey react to the official mention. The trading volumes for XRP pairs fit rise sharply, push the price up. For long term, Bank Negara Malaysia recognition fit open road for bigger payment integration and real-life use cases, helping price make sense and steadily go up.
But the paper caution about liquidity and settlement wahala remind traders say challenge still dey. Even though the overall sign dey good for XRP and Bitcoin, investors suppose watch how Project Mawar dey develop and any follow-up regulator steps.