KUALA LUMPUR: Malayan Banking Bhd
(Maybank) is launching the first ringgit tokenised money pilot with Yinson Holdings Bhd as a participant, under Bank Negara's Digital Asset Innovation Hub (DAIH).
The pilot will explore on-chain cross-border payments involving ringgit and other Asean deposit tokens on Maybank’s permissioned blockchain.
"The initiative will assess the technical feasibility and operational readiness of executing on-chain transactions securely and in near real-time, while helping to shape the foundational design of next generation money rails and payment infrastructure," said the bank in a statement.
Maybank president and group CEO Datuk Sri Khairussaleh Ramli said the bank is taking a holistic, pragmatic and inclusive approach to progressively expanding digital assets and tokenisation initiative into areas like investing, Islamic finance and supporting SMEs.
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