Malaysia's central bank, Bank Negara Malaysia (BNM), will run a regulatory sandbox to study stablecoins and the tokenisation of bank deposits, Cointelegraph reported on Tuesday.
BNM's Digital Asset Innovation Hub (DAIH) aims to enable cross-border payments using stablecoins backed by Malaysia's fiat currency and to tokenise real-world assets.
Standard Chartered, CIMB Group, Maybank and investment firm Capital A are participating in the experiment, and the findings are also expected to be used in developing a central bank digital currency (CBDC).
Malaysia has drawn up a three-year roadmap for asset tokenisation through 2025 and is reviewing real-world use cases including supply chain management, sharia finance, credit access, programmable finance and 24-hour cross-border payments.
Chi-gyu Hwang
delight@d-today.co.kr