Bank Negara Malaysia has launched a three year exploration of real world asset tokenization, establishing a Digital Asset Innovation Hub and industry working group as it seeks feedback on potential use cases ranging from supply chain finance to Islamic finance products.
The central bank’s newly published report maps a phased approach: proofs of concept and pilots in 2026, followed by expanded trials in 2027. The bank is inviting industry input on use cases by March 1, 2026, though it has outlined clear boundaries on what qualifies for experimentation.
Three principles were outlined for selecting use cases. Tokenization should deliver tangible real world benefits, which should be proven rather than assumed. Secondly, DLT needs to be the right technology and should not be assessed in isolation. In other words, many business problems may be better solved with more conventional approaches such as APIs. Finally, the tokenization use case should be feasible within current capabilities. As the industry develops more experience, other use cases could come within scope.
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