Bank Negara Malaysia (BNM) has launched SSDS+, a next-generation platform for issuing, depositing and safeguarding tokenized bonds and sukuk. Announced on October 20, the system was developed in-house using cloud and distributed ledger technologies. SSDS+ extends Malaysia’s existing securities infrastructure into tokenized debt markets, adding new rails for real-world asset tokenization.
The platform builds on the Scripless Securities Depository System, Malaysia’s central securities depository for wholesale financial markets. SSDS+ records ownership and transfers of tokenized securities while RENTAS+ handles corresponding payments in central bank money, with the integration designed to support secure settlement around the clock. BNM said the platform can support wholesale issuance and is also ready for tokenized government and corporate retail bonds.
BNM described the launch as part of a broader modernization of Malaysia’s financial market infrastructure. The key milestone to watch is the issuance of tokenized bonds or sukuk through SSDS+, particularly as the central bank expands use cases beyond wholesale markets. The platform’s readiness for retail securities creates a technical foundation for future government and corporate offerings, although specific upcoming issuances were not detailed in the announcement.
Source: Bank Negara Malaysia.
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