Malaysia’s central bank has launched a distributed ledger-based platform designed for the issuance and holding of tokenized bonds, connecting digital securities records with a payment system that operates around the clock.
Bank Negara Malaysia (BNM) stated that its next-generation Scripless Securities Depository System (SSDS+) supports the issuance, depository, and safekeeping of tokenized debt securities, which include Islamic bonds known as sukuk. The new platform tracks the ownership and transfers of tokenized securities, while also linking to the Real Time Electronic Transfer of Funds and Securities (RENTAS+) system to settle corresponding bond payments in central bank money.
Although built for wholesale issuance, the central bank noted that SSDS+ is also prepared to support tokenized government bonds and corporate retail bonds. The announcement did not identify any specific securities already issued through the platform or disclose transaction volumes.
This rollout follows a three-year asset tokenization roadmap unveiled by BNM in November 2025, which outlined plans for pilot projects focused on Islamic finance, supply chain financing, and programmable payments. Earlier in February, the central bank tested ringgit stablecoins and tokenized bank deposits via its Digital Asset Innovation Hub with participation from major financial institutions, including Standard Chartered, CIMB Group Holding, Maybank, and Capital A.
