Bank Negara Malaysia issues Discussion Paper on Asset Tokenisation in the Financial Sector

05 November 2025

On 30 October 2025, Bank Negara Malaysia (“BNM”) issued a Discussion Paper on Asset Tokenisation on the Malaysian Financial Sector (“Discussion Paper”).

The Discussion Paper sets out BNM’s proposed approach to exploring asset tokenisation. BNM proposes to adopt a collaborative approach to exploring tokenisation and seeks feedback that will inform BNM’s regulatory and development approach for asset tokenisation in the Malaysian financial sector.

The key themes covered in the Discussion Paper include the following:

Collaborative mechanisms to advance responsible exploration and innovation in tokenisation while ensuring alignment with monetary and financial stability objectives.
Priority tokenisation and potential benefits of use cases that Malaysia should explore.
Allocation of responsibilities and risks among participants in the tokenised ecosystems.
Infrastructure or policy enablers that are critical to scale tokenisation safely and inclusively.
Safeguards to uphold resilience and trust in the financial system as tokenisation evolves, including ensuring compliance with existing legal and regulatory obligations.

Feedback on the Discussion Paper may be submitted by email to tokenisation@bnm.gov.my on or before 1 March 2026.

Alert by Lee Ai Hsian (Partner) of the Banking and Finance Practice and the Fint

This article/alert contains general information only. It does not constitute legal advice nor an expression of legal opinion and should not be relied upon as such. For further information, kindly contact skrine@skrine.com.

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Bank Negara Malaysia issues Discussion Paper on Asset Tokenisation in the Financial Sector