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Malaysia central bank launches DLT platform for tokenized bonds

Bank Negara Malaysia (BNM) has launched SSDS+, a distributed ledger-based platform that supports the issuance and safekeeping of tokenized debt securities, including sukuk. The platform tracks ownership and transfers and connects to RENTAS+ to settle bond payments in central bank money. Although designed for wholesale issuance, SSDS+ is also ready for tokenized government bonds and corporate retail bonds, but the announcement did not identify any securities issued or disclose transaction volumes. The launch follows BNM's three-year asset tokenization roadmap unveiled in November 2025, and tests of ringgit stablecoins and tokenized bank deposits in February with major banks including Standard Chartered, CIMB, Maybank and Capital A.

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