Malaysia Launches Tokenized Bond Platform With Round-the-Clock Settlement

Bank Negara Malaysia launched SSDS+, a platform for tokenized bonds and sukuk connected to a payment system that supports round-the-clock settlement in central bank money. The Oct. 20 launch covers the issuance, deposit and safekeeping of tokenized bonds and sukuk, a form of Islamic debt. SSDS+ records who owns the securities and tracks their transfers. It handles the digital bond side of a purchase, while the separate RENTAS+ system carries the matching payment. That payment uses central bank money. The integration makes payment and settlement services available at any hour.