KUALA LUMPUR, Feb 11 — 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).

In a statement today, the central bank said the three initiatives will focus on wholesale payment use cases across both domestic and cross-border transactions, including to enable the settlement of tokenised assets.

The three initiatives can be found at bnm.gov.my/DAIH.

“These initiatives will be conducted in a controlled environment and involve collaboration with ecosystem partners, including corporate clients of financial institutions and other regulators. Certain use cases will also explore shariah-related considerations.

“The testing will allow BNM to assess the implications to monetary and financial stability and inform our policy direction in these specified areas,” it said.

BNM also said that it intends to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by end-2026.

These efforts could also be a precursor to future integration with existing work by BNM, such as on wholesale central bank digital currency.

“Since the launch of DAIH in June 2025, BNM has engaged over 30 international and domestic players from both bank and non-bank sectors.

“These engagements have enabled BNM to identify and prioritise high-impact use cases with clear value propositions that support the digitalisation of Malaysia’s economy and financial sector,” the statement said.

BNM will continue advancing responsible innovation in digital assets through DAIH, which will continue to engage with prospective applicants while placing immediate focus on supporting initiatives already onboarded.

Meanwhile, in a statement today, CIMB Group Holdings Bhd said it has received BNM’s approval to participate in DAIH, enabling the group to test regulated digital asset payment and settlement use cases within a supervised ecosystem.

It will explore the tokenisation of its own sukuk issuance and the use of tokenised deposit representations to support end-to-end payment and settlement workflows within approved testing parameters, the statement said.

Chief executive officer Novan Amirudin said its participation will allow the group to examine how tokenisation can support the next phase of payment and settlement infrastructure in a safe and regulated manner.

“Our focus is on building robust capabilities, controls, and operating readiness so that new forms of digital value can be integrated into the financial system responsibly,” he said.

This is a foundational step in providing clients with access to digital capital markets and settlement networks; it is consistent with the group’s strategy and translates innovation into real market outcomes that advance customers and society, he said. — Bernama