Bank Negara Malaysia (BNM) has announced plans to pilot three major initiatives focusing on stablecoins and tokenized deposits by the year 2026. These projects are part of the central bank’s strategic roadmap to modernize the national financial landscape and leverage the benefits of Distributed Ledger Technology (DLT). The initiatives aim to improve the speed, transparency, and cost-effectiveness of digital payments and interbank settlements. Among the planned programs is ‘Project Bloom,’ which will explore the use of stablecoins for domestic and cross-border payment use cases. Another key initiative, ‘Project Thistle,’ focuses on the potential of tokenized deposits to streamline wholesale transactions. BNM is also working closely with international partners, including the Bank for International Settlements (BIS), to ensure these digital asset frameworks adhere to global regulatory standards. Through these initiatives, the central bank seeks to foster financial innovation while maintaining the stability and integrity of the Malaysian Ringgit.
Source: Malaysia’s central bank to launch three stablecoin and tokenized deposit initiatives in 2026
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