XRP’s Big Breakthrough? Malaysia Mulls Its Use in National Payments

Jakarta, Pintu News – According to CoinPedia (12/8), Malaysia’s central bank, officially known as Bank Negara Malaysia (BNM), published a working paper discussing the possibility of Bitcoin (BTC) and XRP (XRP) as future monetary alternatives.

Does Malaysia allow XRP & Bitcoin as a means of payment?

Along with the global push towards a pro-crypto stance, Southeast Asian country Malaysia is also taking the initiative to overhaul its traditional infrastructure. The country plans to innovate the traditional banking system by introducing digital assets as an alternative.

Read also: Circle Launches Blockchain Arc to Revolutionize Stablecoin Payments!

In July, Bank Negara Malaysia (BNM) published a paper that explicitly stated,

“Private tokens such as Bitcoin or XRP will probably be widely used as a means of payment outside the banking system in the future, replacing CICs or bank deposits.”

However, this may only be applicable after meeting some requirements. BNM stated, “It is said that these private decentralized tokens will have to overcome many hurdles to be able to complement or replace existing payment systems.”

“Therefore, crypto assets may exist outside the regulated banking system, but not necessarily in a decentralized form,” he added.

Challenges for the Initiative

While central banks allow the use of crypto as a means of payment, they also set some conditions to mitigate risks.

To implement this new initiative, it is imperative for BNM to provide regulatory clarity and consumer protection to prevent the associated risks.

The bank also said that it needs to build a robust technology system that can handle high transaction volumes.

Regulators must also address price volatility before initiating massive crypto adoption through this new payment system.

Read also: XRP Whale Buys 900 Million Tokens: Is a Bullish Spike Imminent?

Malaysia Steps Ahead of the Global Trend

In 2025, crypto has surged rapidly in terms of price, supply, regulation, clarity, and adoption. Many major industries and countries have integrated crypto into their standardized financial ecosystems.

Now, Malaysia has taken an important stance that shows its openness to crypto. This visionary initiative with Bitcoin and XRP may inspire other countries to conduct similar studies.

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Reference:

• Coinpedia. XRP’s Big Break: Malaysia Considers It for National Payments. Accessed on August 13, 2025