Bank Negara Malaysia has launched a three-year strategy to explore asset tokenization for modernizing its financial system, focusing on practical applications like small-business financing, Islamic finance, green investments, and cross-border payments. The initiative, coordinated by a new Digital Asset Innovation Hub and an Asset Tokenization Industry Working Group, will prioritize real-world use cases such as tokenized deposits and programmable payments, while examining MYR-denominated stablecoins and potential integration with wholesale CBDC systems. Public feedback is open until March 2026.