Malaysia may isue its national digital asset

Malaysia may join those countries that are planning to issue their national digital currency (CBDC).

The Central Bank of this country has not yet made a final decision. Soon, he will focus on exploring the potential of the token and developing the CBDC concept.

If the Central Bank concludes that it needs a digital currency, then it will accelerate work in this direction, reports Bloomberg.

Last year, Malaysia participated in a project to test the token in Southeast Asia. The central banks of Australia, Singapore, and South Africa also took part in it.

The Dunbar project was based on a blockchain developed by the ConsenSys team.

Transactions were carried out in a test mode through decentralized networks without the involvement of intermediaries, which made it possible to significantly reduce transaction costs.

In April last year, PwC published a study listing the countries that have been most successful in developing fiat-pegged digital currencies. The rating was headed by the Bahamas, followed by Cambodia and China.