The Central Bank of Malaysia has released a three-year roadmap to pilot asset tokenization projects.

According to Mars Finance, Bank Negara Malaysia (BNM) has announced a three-year roadmap to pilot asset tokenization projects within the financial system. The plan 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), which will be 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 executed Islamic finance transactions. BNM also plans to study tokenized deposits and stablecoin schemes priced in ringgit to ensure currency consistency and improve digital settlement efficiency, as well as explore integration with wholesale Central Bank Digital Currency (CBDC). This project aims to modernize financial infrastructure in sync with Asian regulatory authorities such as the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA).