Key facts
- BNM's new platform, SSDS+, supports tokenized debt securities and sukuk.
- It connects to the RENTAS+ system for real-time payment settlements.
- The platform is ready for tokenized government and corporate retail bonds.
Malaysia's central bank, Bank Negara Malaysia (BNM), has launched a new distributed ledger-based platform for issuing and holding tokenized bonds. The Scripless Securities Depository System (SSDS+) is designed to connect digital securities records with a payment system that operates around the clock. The platform supports the issuance, depository, and safekeeping of tokenized debt securities, including Islamic bonds known as sukuk. It tracks ownership and transfers of these securities and links to the Real Time Electronic Transfer of Funds and Securities (RENTAS+) system for bond payments settled in central bank money. BNM stated that SSDS+ is ready to support tokenized government bonds and corporate retail bonds, although no specific issuances or transaction volumes were disclosed. This initiative follows BNM's asset tokenization roadmap from November 2025, which included pilot projects for Islamic finance and programmable payments. In February, the central bank also tested ringgit stablecoins and tokenized bank deposits.