Bank Negara Malaysia (BNM) unveils a three-year roadmap to explore asset tokenization in the financial sector. The roadmap includes proof-of-concept projects and live pilots through the Digital Asset Innovation Hub. An Asset Tokenization Industry Working Group will coordinate exploration of use cases like supply chain financing and programmable payments.

The central bank focuses on tokenizing real-world assets, not cryptocurrencies. Use cases include supply chain financing, tokenized liquidity management, and Islamic finance applications. BNM plans to study MYR-denominated tokenized deposits, stablecoins, and wholesale central bank digital currency integration. Malaysia aims to join other Asian regulators in piloting asset tokenization.

Malaysia’s Securities Commission proposes a new framework for faster crypto listings. Approved exchanges can list certain digital assets without prior approval if they meet security audit and trading compliance standards. Exchanges must ensure assets have been traded for at least one year on a FATF-compliant platform.

Read more at Cointelegraph: Malaysia’s BNM Unveils 3-Year Asset Tokenization Plan