CIMB has received approval from Bank Negara Malaysia (BNM) to begin bank-grade tokenisation trials under its Digital Asset Innovation Hub.

The programme allows the bank to test regulated digital asset payment and settlement use cases within a supervised framework that sets governance, risk management and compliance safeguards.

CIMB will explore tokenising its own sukuk issuances and assess how tokenised deposit representations can support end-to-end issuance, transfer and settlement workflows within approved testing parameters.

BNM recently announced parallel initiatives under the hub, including tokenised deposit testing with Maybank, while Standard Chartered and Capital A are exploring ringgit stablecoins for wholesale payment use cases.

The bank said the initiative builds on its earlier plans to apply tokenisation in capital markets while remaining within the regulated financial system.

It will also study how digital representations of value, including tokenised deposits and stablecoins, could interact within payment infrastructure, subject to regulatory alignment, risk considerations and use-case suitability.

Through the hub, CIMB will assess operational readiness, internal controls and market infrastructure design.

The trials are expected to generate insights into operating models, risk practices and common standards that may support broader adoption of regulated digital assets.

Group CEO Novan Amirudin said,

“Participation in BNM’s Digital Asset Innovation Hub allows us to examine how tokenisation can support the next phase of payment and settlement infrastructure in a safe and regulated manner. Our focus is on building robust capabilities, controls, and operating readiness so that new forms of digital value can be integrated into the financial system responsibly.

This is a foundational step in providing clients with trusted access to digital capital markets and settlement networks, consistent with our Forward30 strategy, translating innovation into real market outcomes that advance customers and society.”

CIMB said it will continue working with regulators and industry participants as it evaluates the role of tokenisation in Malaysia’s capital markets and payments landscape.

Featured image: Edited by Fintech News Malaysia, based on image by Frolopiaton Palm via Freepik