Bank Negara Malaysia announced that its Digital Asset Innovation Hub has onboarded three initiatives for 2026 testing of real-world applications involving ringgit stablecoins and tokenised deposits. The work will focus on wholesale payment use cases for domestic and cross-border transactions, including enabling settlement of tokenised assets, to help the central bank assess monetary and financial stability implications and shape policy direction. The initiatives will be run in a controlled environment and executed with ecosystem partners, including corporate clients of financial institutions and other regulators, with some use cases also exploring Shariah-related considerations. Bank Negara Malaysia also reported that since the hub’s launch in June 2025 it has engaged more than 30 international and domestic bank and non-bank players to identify and prioritise high-impact use cases. Bank Negara Malaysia aims to provide greater clarity on the use of ringgit stablecoins and tokenised deposits by end-2026, and flagged the testing as a possible precursor to future integration with its work on wholesale central bank digital currency (wCBDC). The hub will continue engaging prospective applicants while prioritising support for the initiatives already onboarded.

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