Malaysia is making a stronger push into digital finance as Bank Negara Malaysia (BNM) confirms that three new initiatives have been accepted into its Digital Asset Innovation Hub (DAIH) to test real-world use cases involving ringgit-backed stablecoins and tokenised deposits in 2026.
- Malaysia will test ringgit stablecoins and tokenised deposits in 2026 under a controlled regulatory framework.
- The focus is on wholesale and cross-border payment use cases, including tokenised asset settlement.
- Greater regulatory clarity on ringgit-backed digital money is expected by the end of 2026.
- The initiative could lay groundwork for future wholesale CBDC integration.
The move marks one of the clearest signals yet that the country is preparing a structured framework for regulated digital money tied to the national currency. Rather than launching directly into public circulation, the central bank will first conduct controlled trials focused on wholesale financial applications.
Focus on Wholesale and Cross-Border Payments
The three selected initiatives will concentrate on wholesale payment solutions, covering both domestic and cross-border transactions. A key objective is enabling the settlement of tokenised assets – a critical building block for digital securities, trade finance, and programmable financial contracts.
All testing will take place in a supervised environment and involve collaboration between financial institutions, corporate clients, ecosystem partners, and in some cases, other regulators. Certain projects will also examine Shariah compliance considerations, reflecting Malaysia’s dual financial system and its role as a global Islamic finance hub.
BNM said the trials will help evaluate the broader implications for monetary policy and financial stability. The findings are expected to shape future regulatory guidance.
Clearer Policy Direction by End-2026
Importantly, the central bank intends to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by the end of 2026. This suggests Malaysia is not only experimenting with blockchain-based money, but actively building a policy framework around it.
Officials indicated that these efforts could eventually connect with ongoing work on a wholesale central bank digital currency (wCBDC). While no formal launch has been announced, the stablecoin and tokenised deposit experiments may serve as a stepping stone toward deeper digital integration within the country’s financial infrastructure.
Growing Industry Engagement
Since launching the DAIH in June 2025, BNM has engaged more than 30 domestic and international participants across both banking and non-bank sectors. These discussions have helped identify high-impact use cases aimed at supporting the broader digitalisation of Malaysia’s economy.
The central bank emphasized that it remains committed to responsible innovation. While new applicants will continue to be evaluated, immediate priority will be given to supporting the initiatives already onboarded.
With 2026 shaping up as a testing year, Malaysia is positioning itself among the jurisdictions actively exploring how regulated stablecoins and tokenised deposits can function within a modern financial system – without compromising stability or oversight.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
AuthorRelated stories
Next article
Source: https://coindoo.com/malaysia-advances-stablecoin-testing-framework-for-2026/
