Key Takeaways
- The central bank’s newly published roadmap outlines a phased approach, with proofs of concept and pilots scheduled for 2026, followed by expanded trials in 2027.
- Public feedback on the tokenisation roadmap will remain open until March 2026.
Malaysia’s Central Bank, Bank Negara Malaysia (BNM) has launched a three-year initiative to study the tokenization of real-world assets (RWAs), establishing a Digital Asset Innovation Hub and an industry working group to coordinate research and pilot projects. The central bank’s newly published roadmap outlines a phased approach, with proofs of concept and pilots scheduled for 2026, followed by expanded trials in 2027.
BNM said it is seeking feedback from industry participants — including banks, fintech companies, and technology developers — on potential use cases across key sectors such as supply chain finance, liquidity management, and Islamic finance. The consultation period will remain open until March 1, 2026.
According to the report, the project aims to assess how blockchain-based tokenisation can improve transparency, efficiency, and access to capital within Malaysia’s financial system. The central bank emphasized that while it supports innovation, only projects that demonstrate clear economic value and operational feasibility will qualify for experimentation.
One of the main focus areas is supply chain finance for small and medium-sized enterprises (SMEs), where tokenizing invoices and trade assets could help improve liquidity and access to credit. Another application is liquidity management for financial institutions, where tokenized assets may serve as alternative instruments for collateral and interbank transactions.
The roadmap also highlights Malaysia’s position as a global leader in Islamic finance, suggesting that asset tokenisation could support the development of new Sharia-compliant financial products that align with Islamic principles.
The move also follows the Securities Commission Malaysia’s (SC) proposal in July to simplify the process of listing crypto on regulated exchanges. While the SC’s work focuses on tokenized capital market instruments such as sukuk and bonds, BNM’s roadmap specifically targets real-world assets like trade and Islamic finance instruments.
BNM stated that the initiative is part of its long-term strategy to encourage responsible financial innovation and strengthen the resilience of Malaysia’s financial ecosystem. According to the statement, public feedback on the tokenisation roadmap will remain open until March 2026.
