Rebecca PY Bank Negara Malaysia has onboarded three initiatives under its Digital Asset Innovation Hub to test wholesale payment applications involving ringgit stablecoins and tokenised deposits in 2026. The pilots will inform future policy direction, with greater regulatory clarity expected by end-2026.
MALAYSIA, 12 FEBRUARY 2026 – Bank Negara Malaysia (BNM) has announced that three initiatives have been onboarded under its Digital Asset Innovation Hub (DAIH) to test real-world applications involving ringgit stablecoins and tokenised deposits in 2026.
The selected initiatives will focus on wholesale payment use cases across domestic and cross-border transactions, including enabling the settlement of tokenised assets. The projects will be conducted in a controlled environment and involve collaboration with ecosystem partners such as corporate clients of financial institutions and relevant regulators. Selected use cases will also explore Shariah-related considerations.
Through these pilot programmes, BNM aims to assess the implications of such innovations on monetary and financial stability, while shaping its policy direction in the digital asset space. The central bank has indicated that it intends to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by the end of 2026. The initiatives may also serve as a precursor to future integration with BNM’s ongoing work on wholesale central bank digital currency (wCBDC).
Since the launch of the DAIH in June 2025, BNM has engaged more than 30 international and domestic players from both banking and non-bank sectors. These engagements have helped identify and prioritise high-impact use cases with clear value propositions to support the continued digitalisation of Malaysia’s economy and financial sector.
BNM reaffirmed its commitment to advancing responsible innovation in digital assets through the DAIH, adding that it will continue engaging prospective applicants while focusing on supporting initiatives that have already been onboarded.