Cover Story: Banks shift tokenisation into higher gear
Malaysian financial institutions are rapidly advancing tokenization initiatives following the launch of Bank Negara Malaysia’s Digital Asset Innovation Hub in June 2025. CIMB, Maybank, and Standard Chartered Malaysia are currently conducting live pilots to test tokenized deposits, stablecoins, and securities within a controlled regulatory environment. CIMB recently achieved a significant milestone by settling a RM1.68 billion sukuk issuance using tokenized deposits on its proprietary CIMB Blockchain Connect platform. This shift from small-scale pilots to market-sized transactions signals growing institutional confidence in blockchain-based settlement infrastructure. Meanwhile, Maybank has successfully piloted tokenized supply chain financing and cross-border payments involving ringgit-to-Singapore-dollar FX conversions. These developments align with broader global trends where major institutions like the DTCC, NYSE, and Citigroup are integrating distributed ledger technology to enhance treasury efficiency and liquidity. The rapid adoption in Malaysia is supported by strong local demand, with 50% of treasury professionals expressing high likelihood to utilize digital currencies in the near future.
