The central bank of Malaysia plans to launch three initiatives this year related to a stablecoin Peg to the ringgit and " Tokenize deposits".
In an announcement on Wednesday, Bank Negara Malaysia (BNM) stated that its Digital Asset Innovation Centre (DAIH) is accepting three projects for 2026, focusing on large-scale (interbank/institutional) payment use cases for both domestic and cross-border transactions. DAIH is Malaysia's "controlled experiment" model aimed at encouraging innovation in the digital asset sector.
The official DAIH website features a payment/clearing project using the stablecoin ringgit, based on a business-to-business model, led by Standard Chartered Bank Malaysia and Capital A. The other two projects focus on Tokenize deposits for payment purposes, implemented by Maybank and CIMB respectively.
BNM stated that the trial will help the agency assess the impact on monetary stability and the stability of the financial system, thereby guiding policy. Notably, BNM expects to issue clearer guidance on the use of the ringgit stablecoin and Tokenize deposits before the end of 2026.
BNM also said these initiatives could connect with the central bank's existing research on central bank digital currencies for interbank payments (CBDCs).
Malaysia's move reflects a broader trend in Asia: many major markets have been accelerating stablecoin and Tokenize deposit programs in recent years.
Hong Kong has been establishing a licensing mechanism for stablecoins since last year and expects the first stablecoins to appear this year. Simultaneously, they are implementing Project Ensemble to test Tokenize deposits with major banks and institutions. Singapore has also had a stablecoin regulatory framework since last year and is promoting Tokenize deposit testing through Project Guardian.
In Japan, the first stablecoin Peg to the Japanese yen (JPYC) is scheduled to launch in late 2025; simultaneously, three "mega-banks," MUFG, SMBC, and Mizuho, have launched joint pilot programs in 2025 for stablecoins used in business payments.
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The article "Malaysian Central Bank Launches 3 New Stablecoin Initiatives" first appeared on CoinMoi .
