Malaysia’s central bank has launched a three-year push to test tokenizing real-world assets, aiming to move experiments from concepts into live trials.
The hub will host pilots on things like supply-chain finance for small and medium sized enterprises, Shariah-compliant finance, and green or ESG-linked instruments.
These are the first use cases BNM has highlighted. The goal is to test ways tokenized assets might improve access to funds and make settlement clearer for smaller firms.
Reports have disclosed the roadmap runs for three years and points to proofs-of-concept and pilot testing in 2026, with wider trials planned in 2027.
Industry consultation is open until one March 2026, giving firms a chance to send feedback on rules and technical designs.
There are practical questions that remain. Will tokenized assets trade on public blockchains or in permissioned systems? How will legal ownership be recorded when an asset is split into tokens?
Based on reports, regulators want to protect retail investors while still letting firms test real use cases. That balancing act will be crucial.
The push could open new funding routes for SMEs, help make cross-border settlements easier, and offer Islamic finance structures in token form. But it also carries risks. Market integrity, consumer protection, and operational resilience will need close checks.
Regulated firms, fintech startups, banks, and asset managers are being invited to take part. Based on reports, the initiative will run pilot projects, collect data, and then shape formal rules. That process could take the whole three years, depending on results and feedback.
Featured image from Unsplash, chart from TradingView
