Malaysia’s central bank has acknowledged the potential of XRP and Bitcoin as alternatives to traditional cash and bank deposits. This recognition appears in a recent official document by Bank Negara Malaysia that explores the evolving nature of public and private money systems. 🧠The report utilizes an illustrative diagram comparing different types of money – central bank reserves, currency, and potential digital currencies like those from private institutions such as bank deposits and institutional investments. 📊 It suggests that decentralized tokens like Bitcoin and XRP may function similarly to cash in circulation or bank deposits if widely adopted. 📈 🌎 💰 The document highlights the central bank’s focus on blockchain-based payments through Project Mawar, a pilot program exploring a public digital currency. Though still in its early stages, the inclusion of XRP and Bitcoin indicates their growing significance within broader regulatory landscapes.