Key parties include Malayan Banking Bhd (Maybank), led by president and group CEO Datuk Sri Khairussaleh Ramli; Yinson Holdings Bhd, led by group CEO Lim Chern Yuan; and the pilot operates under Bank Negara Malaysia's Digital Asset Innovation Hub (DAIH).[1][2] The transaction tokenized bank deposits, executed FX conversion, and completed the payment securely on-chain, proving technical feasibility for corporate treasury efficiency.[1][2][4]
Launched in February 2026 as Maybank's inaugural ringgit tokenized deposit pilot, it built on the bank's ROAR30 strategy for digital innovation, ASEAN payments, and tokenization in Islamic finance, SMEs, and wealth products; the March 25 completion advances next-generation money rails.[1][2][6] Maybank reported strong interest for further pilots.[1]
Newsworthy as a regional first for on-chain tokenized FX and cross-border payments via MYR-SGD corridor, it highlights Malaysia-Singapore trade links, faster settlements, cost reductions, and Maybank's ASEAN leadership amid rising blockchain adoption in finance—announced days ago on March 30-31.[1][3][4][5]