Bank Negara Malaysia (BNM), the country’s central bank, has unveiled a three-year roadmap to explore and test asset tokenization across the financial sector.
Under the initiative, BNM will launch Proof-of-Concept (POC) projects and live pilots through the Digital Asset Innovation Hub (DAIH), established earlier this yearthe central bank announced on Friday.
A key part of this roadmap is the creation of an Asset Tokenization Industry Working Group (IWG), which will coordinate industry-wide exploration, share knowledge and identify regulatory and legal challenges.
The Working Group, chaired by BNM and the Securities Commission (SC), will initially focus on foundation use cases that can demonstrate “clear” economic value.
Related: Malaysia Launches Digital Asset Hub to Test StableCoin, Programmable Money
Tokenized Deposits, StableCoins, CBDC Integration
The central bank clarified that Tokenization will focus In real-world assets, not cryptocurrencies.
Among the highlighted use cases are supply chain financing to expand SME credit access, tokenized liquidity management for faster settlements and Islamic finance applications that can automate shariah-compliant transactions. Other areas include programmable payments, green finance and 24/7 cross-border communities.
BNM also plans to study the role of Myr-denominated tokenized deposit and StableCoins, which aims to maintain “currency parity” while enabling efficient digital settlement. Central Bank Digital Currency (CBDC) integration will also be explored.
Per the roadmap, Malaysia also aims to join other Asian regulators such as Singapore’s HKMA and Hong Kong’s HKMA in piloting asset tokenization to modernize the financial infrastructure. Industry feedback on the discussion board is open until March 1, 2026.
Related: Tokenized money market funds emerged as Wall Street’s answer to StableCoins
Malaysian regulator proposes faster crypto listing
In July, the SC of Malaysia a new framework is proposed That would allow approved cryptocurrency exchanges to list certain digital assets without requiring prior approval from the regulator.
Under the proposal, exchanges are required to ensure that listed assets have undergone public security audits and have been traded for at least one year on a compliant platform. Financial Action Task Force (FATF) Standards.
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