Overview
- Bank Negara Malaysia expanded the Digital Asset Innovation Hub’s mandate and created an Industry Working Group co-led with the Securities Commission to coordinate trials.
- Proof-of-concept projects are slated for 2026 with broader pilots in 2027, using permissioned setups limited to licensed and regulated institutions.
- Priority use cases include tokenized invoice receivables to leverage anchor-buyer credit, targeting an SME funding gap of about RM101 billion.
- Regulators will explore MYR tokenized deposits and ringgit-backed stablecoins with potential wholesale CBDC links for interbank settlement and cross-border payments.
- Public consultation runs through March 1, 2026, as authorities emphasize that cryptocurrencies are not legal tender and remain a small share of banking deposits.