Bank Negara Malaysia has launched three regulatory sandbox pilots under its Digital Asset Innovation Hub to explore ringgit stablecoins, tokenised bank deposits and real-world asset tokenisation.
The central bank said the initiatives will test the use of ringgit-pegged stablecoins for cross-border settlement and assess tokenised deposits for potential wholesale central bank digital currency applications.
“The pilot programmes will inform our policy direction in these specified areas,”
Bank Negara Malaysia said in a statement.
Partners in the trials include Standard Chartered Bank, CIMB Group Holding, Maybank and investment holding company Capital A, with the projects focused on institutional wholesale settlement rather than retail payments.
The central bank will also examine Shariah-related considerations as part of the sandbox framework, and following the announcement the Maybank share price was unchanged at $XX.
The initiative follows a three-year roadmap published in November 2025 outlining plans to expand asset tokenisation across sectors including supply chain management, programmable finance and 24/7 cross-border settlement.
Recent developments include a ringgit-pegged stablecoin launched by Ismail Ibrahim under the ticker RMJDT and separate plans by Standard Chartered Bank and Capital A to explore a wholesale ringgit stablecoin, reflecting a broader global push to tokenise fiat currencies for institutional use.