CIMB completes RM1.4 billion tokenised sukuk pilot
CIMB Group completed a pilot that settled RM1.4 billion of tokenised sukuk using tokenised deposits, the bank said on Thursday.
Source: The Business Times Singapore · August 27, 2026 at 10:31 AM · AI-assisted report
Single-sourceKUALA LUMPUR, 27 AUGUST 2026 —
CIMB Group completed a pilot that settled RM1.4 billion of tokenised sukuk using tokenised deposits, the bank said on Thursday.
Market Impact
The pilot used deposits tokenised on a permissioned blockchain to settle the issuance, according to CIMB. The lender did not disclose the blockchain platform or the pilot’s duration.
CIMB said the test showed commercial bank money can be used for settlement, reducing reliance on traditional payment rails. The RM1.4 billion figure represents the value of the tokenised sukuk issued, compared with RM100 million in Cagamas’ 2023 tokenised sukuk.
Bank Negara Malaysia has not issued specific rules for tokenised instruments in primary market issuance, though the central bank has signalled openness to such tools. Malaysia in 2024 allowed digital asset exchanges to operate under existing frameworks.
The pilot follows Malaysia’s 2024 decision to permit digital asset exchanges under existing rules. Bank Negara has previously indicated openness to tokenised instruments but has yet to clarify whether such settlements meet capital market requirements.
CIMB’s pilot used deposits tokenised on a private network, a model distinct from public blockchains and stablecoins. Industry observers say the test could influence future sukuk issuance and secondary trading by enabling faster settlement and lower costs.
The absence of formal guidance from Bank Negara leaves legal clarity unresolved, according to observers.
Related: Bank Negara Malaysia