Malaysia launches platform for tokenized bonds

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Malaysia’s central bank has launched a distributed ledger technology (DLT) platform for issuing and holding tokenized bonds, including Islamic bonds known as sukuk.

Bank Negara Malaysia said its new Scripless Securities Depository System (SSDS+) records ownership and transfers of digital securities and connects to the RENTAS+ payment system, which settles transactions in central bank money. The system is designed to operate around the clock.

The platform is intended for wholesale issuance but can also support tokenized government bonds and retail corporate bonds. The launch follows the central bank’s three-year tokenization roadmap announced in November 2025 and February trials of ringgit stablecoins and tokenized bank deposits involving major financial institutions.