The Central Bank of Malaysia Central Bank of Eye Tokenization, says CRYPTO is less than 1% bank deposits

In its annual report, the Central Bank of Malaysia stressed plans to support property tokenization and investigate digital funds technologies without plans to recognize the crypt as a legal means of payment.

MalaysiaThe Central Bank of the Bank Negara Malaysia, overturned its annual report 2024, highlighting growing recognition tokenization According to its potential to start efficiency in the financial system, while still exercising cautious about the risk of cryptocurries.

For the 24th March Research reportThe Central Bank said that in the Malaysia the crypto market “remains active, but compared to the total size of the domestic financial market.”

“Based on the cumulative outflow of net deposit from banks to domestic digital funds, Kruptoases represents less than 1% of the total deposit of the banking system at the end of 2024. And about 0.4% of the market capitalization of securities in the Malaysia Bursa.”

Bank Negara Malaysia

However, the Cripto market in Malaysia is active, it states that it is in 2024. years, the total crypt of the country in the country at approximately 3.06 billion dollars, more than 1.19 billion dollars in 2023. years, reflecting growth of about 157%.

New possibilities

The Central Bank also pointed out its continuation of focus on researching digital fund technologies, with an emphasis on supporting the tokenization of assets and development of the central bank’s digital currency. The report noted the regulator that the tokenization of property within the regulated financial sector “creates new possibilities to enabling programmability, composability and atomicism”.

“Among other things, BNM sees the potential for tokenized deposits as a credible settlement in a chain to amend the CBDC. As well as traditional deposits of commercial banks, tokenized deposits issued by regulated financial institutions are a request against issuing bank.”

Bank Negara Malaysia

While BNM recognizes the potential tokenization to run efficiency in the financial system, it has made it clear that crosswords would not be recognized as a legal tender. Instead, the Central Bank plans to watch the crypto space, which expects to be growing in 2025. years.