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Bank Negara Malaysia (BNM), the nation’s central bank, has launched an expanded digital asset regulatory sandbox under its Digital Asset Innovation Hub (DAIH) to pilot stablecoins and tokenized financial products. The program would enable the bank to explore how the digital equivalent of the Malaysian ringgit and other tokenized financial products could operate in the real world. Bank Negara Malaysia said the sandbox would focus on ringgit-backed stablecoins, digital tokens that maintain a fixed value tied to the Malaysian currency, as well as tokenized bank deposits.  These experiments will inform the bank on how these types of digital assets could enable faster cross-border payments and, perhaps, inform the creation of a central bank digital currency (CBDC). “The testing will allow BNM to assess the implications for monetary and financial stability and inform our policy direction in these specified areas. Notably, BNM intends to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by the end of 2026,” part of the statement read. A CBDC is a form of money created and held in circulation by a central bank through digital means. Several of the world’s biggest banks have joined the trials. Standard Chartered Bank, CIMB Group Holding, Maybank, and investment company Capital A are also among the banks’ plans to assess Shariah-related considerations, which are rules from Islamic law that guide financial practices and must be maintained in compliance with Islamic finance products.  According to BNM, lessons learned from the sandbox programs will help shape the country’s policy around digital assets and tokenization. Globally, governments are racing to explore digital currencies and tokenized assets to keep pace with the growing digital economy. Malaysia tests Shariah-compliant tokenization as stablecoin pilots expand In November 2025, Bank Negara Malaysia published a three-year roadmap for testing tokenization across several sectors. As previously reported…

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Filed under: News - @ February 12, 2026 3:26 am