Bank Negara Malaysia releases a three-year roadmap to pilot asset tokenization projects

According to Cointelegraph, Bank Negara Malaysia (BNM) has announced a three-year roadmap to pilot asset tokenization projects within the financial system.

The initiative will launch multiple proof of concept (POC) and actual pilot projects through the Digital Asset Innovation Hub (DAIH) established earlier this year.

The core content of the roadmap includes the establishment of the Asset Tokenization Industry Working Group (IWG), co-led by the central bank and the Securities Commission (SC), responsible for promoting industry exploration, knowledge sharing, and regulatory coordination. The first batch of pilots will focus on applications with clear economic value, such as supply chain financing to expand credit access for SMEs, tokenized liquidity management to enhance settlement efficiency, and compliant applications for automatically executable Islamic finance transactions.

BNM also plans to explore tokenized deposits and stablecoin schemes denominated in ringgit to ensure monetary consistency and improve digital settlement efficiency, and will further investigate integration with wholesale central bank digital currencies (CBDC). The project aims to modernize financial infrastructure in sync with Asian regulators such as the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA).