CIMB initiates engagement with Bank Negara Malaysia for entry into digital asset development platform
KUALA LUMPUR, Dec 18 – CIMB Group Holdings Bhd (KL:CIMB) announced plans to engage Bank Negara Malaysia (BNM) to secure admission into the Digital Asset Innovation Hub. As part of this strategy, CIMB aims to advance the development of CIMB Tokenized Financial Services within Malaysia. Specifically, the focus includes tokenised assets, tokenised settlement, and next-generation payment rails. At the same time, this move supports Malaysia’s ongoing efforts to modernise its financial market infrastructure amid rising digital asset adoption across the region.
CIMB Tokenized Financial Services collaboration advances through phased participation in tokenised sukuk pilot initiatives
Meanwhile, CIMB has committed to supporting Khazanah Nasional Bhd and the Securities Commission Malaysia (SC) in the tokenised sukuk issuance pilot project. In practice, the initiative covers several workstreams, including structuring, execution, custody arrangements, and full lifecycle servicing. Moreover, the pilot will progress through 2026 using a phased capability build-out. This approach aligns with evolving regulatory frameworks and operational readiness requirements.
The regulatory framework laid the foundation for CIMB’s Tokenized Financial Services asset capabilities.
According to official statements, CIMB’s participation in the SC’s industry pilot programme on securities tokenisation focuses on improving efficiency and connectivity across payment and capital markets. In addition, the initiative supports the future issuance of tokenised bonds and sukuk as part of CIMB’s funding strategy. This builds on the bank’s issuance of approximately RM40 billion in conventional bonds and Islamic sukuk in Malaysia over the past three years.
Industry analysts note cautious optimism towards tokenised financial instruments in Malaysia
Meanwhile, public discourse and social media commentary acknowledge CIMB’s structured and cautious approach to tokenisation. Notably, the strategy emphasises strict regulatory compliance and strong governance. Industry observers point to the potential for asset tokenisation to enhance market accessibility, operational efficiency, and transparency, particularly in wholesale banking and payment systems. However, analysts broadly agree that adoption will remain gradual. As a result, market participants continue to prioritise pragmatic, use-case-driven applications that balance innovation with financial stability.
Tokenised financial services expected to influence Malaysia’s market infrastructure evolution
In the near term, the pilot programme’s phased build-out is expected to shape operational practices by reducing manual reconciliation and streamlining settlement processes across Malaysia’s financial sectors. As a result, transparency and scalability could improve. Over the longer term, market observers anticipate that tokenised deposits and digital asset-based instruments will become core components of the national financial infrastructure. Consequently, these developments may enhance resilience and connectivity within Malaysia’s capital markets.
Overall, CIMB’s engagement with BNM’s Digital Asset Innovation Hub reflects strategic alignment with Malaysia’s objective to build a modern and resilient financial ecosystem powered by digital technologies. Going forward, continued collaboration with partners such as Khazanah Nasional, alongside adherence to the Securities Commission’s regulatory frameworks, will play a key role in scaling innovation responsibly within the tokenised financial services landscape.
Location: KUALA LUMPUR
Date: 2024-06-01
