Bank Negara Malaysia has started a three-year project with its Digital Asset Innovation Hub and a group from the industry. According to reports, they will look into how real-world assets can be turned into tokens in different areas. This includes supply-chain and Islamic finance.
This program looks at how tokenization can improve financial processes and help with innovation, all while keeping financial stability in mind.
The Bank has published a report asking for input from industry stakeholders about asset tokenization. The report says that the information collected will help create future rules and plans that support new ideas in digital assets.
The central bank is focused on creating strong rules because it understands that digital assets are becoming more important in finance.
