Bank Negara Malaysia Launches SSDS+ Platform to Support Tokenized Bonds and Islamic Bond Issuance

On October 21, according to an announcement by Bank Negara Malaysia (BNM) on October 20, the central bank officially launched its next-generation platform SSDS+ for the issuance, custody, and safekeeping of tokenized bonds and Islamic bonds (sukuk). In-house developed by BNM utilizing cloud technology and distributed ledger technology, SSDS+ is built upon the existing paperless securities depository system (SSDS), which serves as the central securities depository for Malaysia's wholesale financial market.

In addition to wholesale issuance, SSDS+ also supports the issuance of tokenized government bonds and corporate retail bonds. The platform has been integrated with RENTAS+: SSDS+ facilitates the transfer and ownership recording of tokenized securities, while RENTAS+ provides round-the-clock payment and settlement services in central bank currency. BNM Governor Abdul Rasheed Ghaffour stated that this launch marks a crucial milestone in modernizing Malaysia's financial market infrastructure, delivering a more secure, faster, and flexible digital foundation for new application scenarios in the securities and payments sectors.