Malaysia Launches Three-Year Tokenization Roadmap to Modernize Financial System
Bank Negara Malaysia (BNM) has unveiled a strategic three-year plan to integrate tokenization into the nation's financial infrastructure. The initiative, spearheaded by BNM's Digital Asset Innovation Hub, prioritizes practical applications over speculative crypto assets, focusing on sectors like Islamic finance, green investments, and cross-border payments.
Proof-of-concept projects and live pilots will test asset tokenization, with a dedicated working group addressing regulatory hurdles. BNM emphasizes solutions like tokenized deposits and programmable payments, aligning with Malaysia's economic and religious frameworks. Wholesale CBDC integration and MYR-denominated stablecoins are under evaluation to enhance settlement efficiency.