Kuala Lumpur, Malaysia – Maybank has initiated a pilot programme for Ringgit tokenised deposits and cross-border transactions using blockchain technology, as part of its broader ROAR30 strategy.
The initiative forms part of the bank’s digital transformation agenda, which includes the development of digital assets and tokenised forms of money to support more efficient and inclusive financial services.
The pilot, conducted with Yinson Holdings Berhad under Bank Negara Malaysia’s Digital Asset Innovation Hub, will examine the use of on-chain cross-border payments involving the Ringgit and other ASEAN-denominated deposit tokens. Transactions will be carried out on Maybank’s permissioned blockchain network to evaluate their execution in a secure environment.
“Together with regulators, clients and partners, and taking a holistic, pragmatic and inclusive approach, we will progressively expand digital assets and tokenisation initiatives into areas like investing, Islamic finance and supporting SMEs,” Sri Khairussaleh Ramli, president and group CEO of Maybank, stated.
“We continue to work on innovation to deliver tangible benefits for our clients like Yinson and the broader real economy, while upholding the highest standards of governance, security and regulatory integrity.”
The programme is intended to test technical viability and operational preparedness for blockchain-based settlement, while contributing to the design of future payment infrastructure. It also serves as an initial step in the bank’s broader exploration of tokenised financial instruments.
Maybank plans to extend its work in tokenisation to a range of assets, including Shariah-compliant financing solutions for corporate clients, small and medium-sized enterprises and retail customers. The bank is also assessing tokenised investment offerings, such as sukuk and funds, with the aim of enabling fractional ownership and widening access to Islamic finance products.
“With diverse businesses and operations across multiple jurisdictions, and complex cross-border treasury operations, Yinson is constantly seeking ways to optimise its financial position, manage risks, and respond swiftly to opportunities,” Lim Chern Yuan, group CEO of Yinson Holdings Berhad, commented.
“We are open to leveraging innovative technology with the support of regulators and established financial institutions like Maybank.”
Through the use of programmable money, the bank is studying mechanisms that could automate payment flows between anchor clients, including government bodies and large corporations, and their SME suppliers. Such structures may improve transparency in payment chains and potentially enhance access to financing.
Maybank will continue to collaborate with regulators, corporate clients and industry partners as it develops its digital asset capabilities, with a focus on governance, security and regulatory compliance. The bank aims to strengthen its role in ASEAN’s financial ecosystem by supporting tokenised currencies and assets through blockchain-based solutions.
