Bank Negara Malaysia has launched a distributed ledger-based platform for issuing and storing tokenized bonds. The new system links digital securities records with a payment system designed for 24/7 operation.
The next-generation scripless securities depository system SSDS+ supports the issuance, depository services, and storage of tokenized debt securities, including Islamic sukuk bonds. The platform tracks the ownership and transfers of tokenized securities and connects to the real-time electronic funds and securities transfer system RENTAS+, which processes corresponding bond payments in central bank money.
Although the platform is designed for wholesale issuance, the regulator stated that SSDS+ is ready to support tokenized government and corporate bonds for retail investors. The announcement did not specify whether any securities have already been issued through the platform or disclose transaction volumes.
The launch followed BNM's three-year roadmap for asset tokenization, presented in November 2025. It outlined plans for pilot projects in Islamic finance, supply chain financing, and programmable payments.
In February, the central bank conducted trials of ringgit stablecoins and tokenized bank deposits through its Digital Asset Innovation Center. Major banks Standard Chartered, CIMB Group Holding, and Maybank, as well as investment holding company Capital A, participated in the trials.
The new platform aims to simplify the issuance and circulation of debt instruments and reduce settlement times through integration with RENTAS+. The use of distributed ledger technology allows for tracking the transfer of ownership of tokenized securities and synchronizing them with real-time monetary settlements. BNM's further plans include expanding the range of tokenized products and developing infrastructure for Islamic finance.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
Related articles
