Malaysia’s central bank eyes asset tokenisation, says crypto represent less than 1% of bank deposits
In its annual report, Malaysia’s central bank outlined plans to support asset tokenization and explore digital asset technologies without plans to recognize crypto as legal tender.
Malaysia‘s central bank, Bank Negara Malaysia, has rolled out its 2024 annual report, highlighting the growing recognition of tokenization for its potential to drive efficiency in the financial system while still exercising caution around the risks of cryptocurrencies.
In a March 24 research report, the central bank said that in Malaysia, the crypto market “remains active but small compared to the overall size of the domestic financial market.”
“Based on the cumulative net deposit outflow from banks to domestic registered…
