Bank Negara Malaysia is working with several local Financial Institution Groups to study the potential of wholesale central bank digital currencies through proof-of-concept (POC), with the aim of optimizing RENTAS, Malaysia's wholesale payment system. Bank Negara Malaysia is also actively involved in a number of cross-border wholesale digital currency and innovation projects led by the BIS Innovation Hub, such as "Dunbar", "Mandala", "Rialto" and "mBridge", and is mainly an observer in these projects. "These projects explore the application of distributed ledger technology (DLT) and central bank digital currency in depth, with the aim of improving the efficiency of cross-border transfer." It is reported that the original intention of Bank Negara Malaysia to participate in these projects is to deepen the institutional and financial industry's understanding of central bank digital currencies and lay the foundation for future potential development.