This discussion paper sets out Bank Negara Malaysia’s (BNM) proposed approach to exploring asset tokenisation in the Malaysian financial sector. BNM supports a collaborative approach to exploring tokenisation, aiming to co-create a safe and sustainable roadmap for the development of tokenised financial services in Malaysia.

This discussion paper aims to gather feedback that will inform BNM's regulatory and development approach for asset tokenisation in the financial sector.

BNM welcomes written feedback on the key themes outlined in this discussion paper, including suggestions for specific issues, areas to be clarified or elaborated further, and alternative proposals BNM should consider. To facilitate an effective review, feedback should be supported by a clear rationale, relevant evidence and/or illustrative examples.

All feedback must be submitted via email to [email protected], latest by 1 March 2026.

Issuing Department
Financial Development and Innovation
Payment Services Policy

Date of Issuance
30 October 2025

Document:
Discussion Paper on Asset Tokenisation in the Malaysian Financial Sector