DRB-HICOM and Geno Advance Enterprise Blockchain in Malaysia

DRB-HICOM Bhd has entered into a memorandum of collaboration with Geno Group Ltd and its Malaysian subsidiary, Geno Edge (Malaysia) Sdn Bhd, with the goal of accelerating enterprise blockchain adoption across DRB-HICOM’s diversified business portfolio. The agreement outlines a structured framework for deploying blockchain technologies within the group’s core operations while also exploring new digital financial instruments aligned with Malaysia’s regulatory environment.

The parties indicated that the collaboration extends beyond technology deployment and includes joint exploration into the potential issuance of a Malaysian ringgit-backed stablecoin. Any such initiative would be pursued in line with applicable laws and subject to regulatory approvals, reflecting a cautious and compliant approach to digital asset innovation.

Phased Blockchain Adoption Across Key Industries

Under the memorandum, DRB-HICOM and Geno plan to implement a phased rollout of Geno’s enterprise blockchain solutions across multiple sectors within the DRB-HICOM group. These sectors include mobility services, automotive manufacturing and servicing, financing, logistics, banking, and other industrial verticals. The collaboration focuses on integrating Geno’s consortium-based permissioned blockchain infrastructure, along with tokenomics design, smart contract development, and enterprise system integration capabilities.

The objective of this phased approach is to ensure that blockchain adoption delivers practical operational benefits while remaining scalable and secure. By embedding blockchain solutions into existing enterprise workflows, the partners aim to enhance efficiency, transparency, and automation across complex industrial processes.

Exploring a Ringgit-Backed Stablecoin Framework

Alongside enterprise blockchain adoption, the collaboration includes plans to develop the underlying infrastructure for a Malaysian ringgit-backed stablecoin. This digital currency would be issued and operated on a permissioned blockchain, with its initial use cases focused on transactions within the DRB-HICOM ecosystem. Over time, and where appropriate, access could be extended to selected external participants.

The stablecoin initiative is intended to address operational requirements such as programmable business-to-business settlements and scalable digital payment mechanisms. The proposed design would allow integration with existing regulated banking systems and Malaysia’s broader financial market infrastructure, ensuring compatibility with established financial rails rather than operating in isolation.

Tokenized Deposits and Settlement Innovation

As part of the exploratory phase, the partners will also assess the viability of tokenized deposit use cases issued by licensed banking institutions. In parallel, they will examine potential interbank settlement models that could leverage blockchain technology while remaining compliant with regulatory standards. This evaluation reflects an interest in applying blockchain not only to internal corporate processes but also to wider financial market use cases.

The initiative is positioned to support more efficient settlement processes, reduce operational friction, and introduce programmable features into traditional financial transactions. However, all developments will be assessed carefully to ensure alignment with legal and regulatory requirements.

Alignment With Malaysia’s Digital Asset Strategy

The collaboration aligns with Malaysia’s evolving digital asset landscape, including initiatives led by Bank Negara Malaysia through its Digital Asset Innovation Hub. That framework is designed to encourage industry collaboration on programmable payments, tokenized deposits, and other forms of digital settlement innovation. By anchoring the project within this national context, the partners aim to contribute to broader financial modernization efforts.

To ensure effective governance, a joint steering committee comprising representatives from both organizations will oversee strategic direction, regulatory coordination, and execution. This governance structure is intended to support disciplined implementation and long-term scalability across enterprise and financial use cases.

Supporting Industrial-Scale Digital Transformation

The memorandum is positioned as a foundational step toward deploying enterprise-grade blockchain solutions and potentially introducing an industrial-scale ringgit-backed stablecoin tied to real economic activity. By combining DRB-HICOM’s extensive industrial footprint with Geno’s blockchain expertise, the partnership seeks to deliver secure, scalable solutions that support Malaysia’s financial and industrial transformation. If successful, the initiative could serve as a model for how traditional conglomerates adopt blockchain technology within regulated environments while driving operational innovation.

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