Kuala lumpur: The Digital Asset Innovation Hub (DAIH) has onboarded three initiatives to test real-world applications involving ringgit stablecoins and tokenised deposits in 2026, according to Bank Negara Malaysia (BNM).
According to BERNAMA News Agency, the central bank stated that these initiatives will primarily focus on wholesale payment use cases across both domestic and cross-border transactions, including enabling the settlement of tokenised assets. The initiatives will be conducted in a controlled environment with collaboration from various ecosystem partners, including corporate clients of financial institutions and other regulators. Some use cases will also explore shariah-related considerations.
The testing phase aims to allow BNM to assess the implications on monetary and financial stability, which will subsequently inform policy direction in these specified areas. BNM plans to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by the end of 2026. These efforts might lead to future integration with existing work by BNM, such as on wholesale central bank digital currency.
Since DAIH's launch in June 2025, BNM has engaged over 30 international and domestic players from both bank and non-bank sectors. These engagements have helped BNM identify and prioritise high-impact use cases with clear value propositions that support the digitalisation of Malaysia's economy and financial sector. BNM will continue promoting responsible innovation in digital assets through DAIH, engaging with prospective applicants and supporting onboarded initiatives.
Meanwhile, CIMB Group Holdings Bhd announced it has received BNM's approval to participate in DAIH. This participation allows CIMB to test regulated digital asset payment and settlement use cases within a supervised ecosystem. The group plans to explore the tokenisation of its sukuk issuance and the use of tokenised deposit representations for end-to-end payment and settlement workflows within approved testing parameters.
CIMB's chief executive officer Novan Amirudin stated that the group's participation will enable them to examine how tokenisation can support the next phase of payment and settlement infrastructure safely and responsibly. The focus is on building robust capabilities, controls, and operating readiness to integrate new forms of digital value into the financial system.
This initiative is considered a foundational step in providing clients access to digital capital markets and settlement networks. It aligns with the group's strategy and aims to translate innovation into real market outcomes that benefit customers and society.