Bank Negara Malaysia has introduced the Scripless Securities Depository System (SSDS+), a platform built on distributed ledger technology. It is designed to manage the issuance, holding, and safekeeping of tokenized debt securities, including Islamic sukuk bonds.
The platform integrates with the RENTAS+ system to facilitate around-the-clock settlement of bond payments using central bank money. While currently focused on wholesale issuance, the system is capable of supporting future tokenized government and corporate retail bonds.
The launch follows a three-year asset tokenization roadmap announced by the central bank in November 2025. This roadmap previously included pilot projects for supply chain financing, programmable payments, and Islamic finance initiatives.
Earlier this year, the central bank conducted tests involving ringgit stablecoins and tokenized bank deposits. These trials were carried out through the Digital Asset Innovation Hub with participation from major institutions like Standard Chartered, CIMB, Maybank, and Capital A.
