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Malaysia's Central Bank blazes own path in digital currencies


Malaysia’s Central Bank blazes own path in digital currencies
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The bank prefers a project to gauge the merits of a central bank digital currency with an initial focus on wholesale CBDCs
The initial stage is unlikely to focus on a retail CBDC similar to China’s digital yuan or Sweden’s e-krona
The world’s central banks are slowly beginning to acknowledge the impact that digital payments are having on the financial system and economy. Interest intensified when China launched its own Digital Yuan. Countries then began actively experimenting with the opportunities presented by exploring their own central bank digital currency (CBDC) but not all preferred China’s retail approach to it. In Southeast Asia, Malaysia’s Central Bank signaled it would rather run a pilot project to gauge the merits of a CBDC instead of focusing on a retail CBDC similar to China’s digital yuan or Sweden’s e-krona. ....

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