Malaysia's central bank pilot stablecoin and tokenization sandbox program

The Malaysian Central Bank's Digital Asset Innovation Center is piloting three regulatory sandbox programs to study stablecoins and tokenized bank deposits. The plan includes using Ringgit stablecoins for cross-border settlements, developing tokenized real-world assets (RWAs), and testing tokenized bank deposits. The research findings may provide reference for the future development of wholesale central bank digital currencies (CBDCs).