Malaysia introduces SSDS+ platform for tokenised debt securities
Linked to RENTAS+, the new system allows payments for tokenised securities to settle in central bank money at any hour.
Bank Negara Malaysia (BNM) has launched SSDS+ to support tokenised bond and sukuk issuance, hold securities in custody and maintain ownership records. Its connection to the central bank’s RENTAS+ payment infrastructure enables settlement 24 hours a day.
BNM developed the platform internally, combining distributed ledger technology with cloud infrastructure. It expands on the Scripless Securities Depository System used by the wholesale financial market and can also accommodate government and retail bonds issued in tokenised form.
The central bank said representing securities digitally could ease transactions, give issuers more options when designing financial instruments and expand access for investors. SSDS+ handles securities transfers and ownership records, while RENTAS+ moves the associated payments in central bank money.
Governor Abdul Rasheed Ghaffour said the connected platforms would enable new uses in payments and securities, supporting innovation and greater market efficiency. RENTAS+ began operating in October 2025 as an enhancement to BNM’s existing funds and securities transfer system.
Malaysia’s combined bond and sukuk market totalled approximately RM2.35 trillion at end-June 2026. Sukuk made up more than 60 per cent in 2025. BNM said corporate bond fundraising surpassed RM377 billion over the period from January 2025 to June 2026.
