Malaysia’s central bank to launch three stablecoin and tokenized deposit initiatives in 2026

Bank Negara Malaysia (BNM), through its Digital Asset Innovation Hub (DAIH), is onboarding three projects for 2026 focusing on wholesale payment use cases for domestic and cross-border transactions involving local currency stablecoins and tokenized deposits. These projects include a B2B Ringgit stablecoin settlement initiative led by Standard Chartered Bank Malaysia and Capital A, alongside two separate tokenized deposit projects spearheaded by Maybank and CIMB. BNM stated that this testing will help assess implications for monetary and financial stability, aiming to provide greater clarity on the use of ringgit stablecoins and tokenized deposits by the end of 2026, potentially integrating with existing wholesale CBDC work. This move aligns with broader Asian trends, where jurisdictions like Hong Kong, Singapore, and Japan are also advancing stablecoin and tokenized asset frameworks.

(Source：The Block)