- Samsul Said/Bloomberg
KUALA LUMPUR: Bank Negara Malaysia (BNM) will release an Exposure Draft on Open Finance soon and finalise the policy by next year, with the first phase to be rolled out in the interim, subject to industry and public readiness.
BNM governor Datuk Seri Abdul Rasheed Ghaffour said the central bank views tokenisation as a promising innovation in the financial sector with potential implications beyond capital markets.
"Our focus is on exploring the potential benefits and implications of tokenising real assets in financial services, particularly use cases that bring tangible benefits to the economy,” he told a press conference after announcing the second quarter 2025 (2Q 2025) gross domestic product (GDP) performance here today.
Abdul Rasheed said the discussion paper on asset tokenisation will outline BNM’s proposed collaborative approach, provide guidance on developing tokenisation use cases, and set out safeguards to support responsible exploration initiatives.
"Essentially, what is important is ensuring that tokenisation delivers real value to the economy, that the use cases meaningfully support economic activity with transparent and reliable information, and that there are adequate protections for users and customers.
"It is about understanding what end-users require as we explore tokenisation,” he added.
Earlier this month, the governor announced plans to release an exposure draft and a discussion paper on asset tokenisation by year-end, following the release of a Discussion Paper on Artificial Intelligence (AI), which outlines the central bank’s regulatory and developmental approach, including priority areas for industry-led collaboration and the responsible adoption of AI in financial services.
He said that a future-ready system calls for secure digital identity and data sharing frameworks, robust data governance, effective cybersecurity and a regulatory foundation that enables inclusive, responsible and trusted innovation. - Bernama
