Bank Negara Malaysia Launches SSDS+ Platform to Support Tokenized Bonds and Sukuk Issuance

Deep Tide TechFlow reports, on October 21, according to an October 20 announcement by Bank Negara Malaysia (BNM), the central bank officially launched the next-generation platform SSDS+, designed for the issuance, custody, and safekeeping of tokenized bonds and Islamic bonds (sukuk). SSDS+ was independently developed by BNM using cloud technology and distributed ledger technology, built upon the existing paperless securities depository system (SSDS), which serves as the central securities depository for Malaysia's wholesale financial market. In addition to wholesale issuance, SSDS+ also supports the issuance of tokenized government bonds and corporate retail bonds. The platform has been integrated with RENTAS+: SSDS+ handles the transfer and ownership recording of tokenized securities, while RENTAS+ provides round-the-clock payment and settlement services using central bank money. BNM Governor Abdul Rasheed Ghaffour stated that the launch marks a significant milestone in the modernization of Malaysia's financial market infrastructure, offering a safer, faster, and more flexible digital foundation for new application scenarios in the securities and payment sectors.