Odaily Planet Daily reports that Bank Negara Malaysia (BNM) has released a three-year roadmap to pilot asset tokenization projects within the financial system. The plan will launch several proof-of-concept (POC) and pilot projects through the Digital Asset Innovation Hub (DAIH), established earlier this year.

The core of the roadmap includes the establishment of an Asset Tokenization Industry Working Group (IWG), jointly led by the central bank and the Securities and Exchange Commission (SC), responsible for promoting industry exploration, knowledge sharing, and regulatory coordination. The initial pilot programs will focus on application scenarios with clear economic value, such as supply chain financing to expand credit access for SMEs, tokenized liquidity management to improve settlement efficiency, and compliant applications that can automatically execute Islamic financial transactions.

BNM also plans to explore RM100-denominated tokenized deposit and stablecoin solutions to ensure currency consistency and improve digital settlement efficiency. Furthermore, it will explore integration with wholesale central bank digital currencies (CBDCs). This project aims to modernize financial infrastructure in tandem with Asian regulators such as the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA). (Cointelegraph)