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

According to an announcement by Bank Negara Malaysia (BNM) on October 20, the central bank has officially launched its next-generation platform, SSDS+, for the issuance, custody, and safekeeping of tokenized bonds and Islamic bonds (sukuk). Independently developed by BNM leveraging cloud and distributed ledger technologies, SSDS+ builds upon the existing paperless securities settlement system (SSDS), which serves as the central securities depository for Malaysia’s wholesale financial market. In addition to wholesale issuance, SSDS+ can also support the issuance of tokenized government bonds and retail corporate bonds. The platform has integrated with RENTAS+: SSDS+ handles the transfer and ownership recording of tokenized securities, while RENTAS+ provides round-the-clock payment and settlement services using central bank money. BNM Governor Abdul Rasheed Ghaffour stated that the launch marks a significant milestone in the modernization of Malaysia’s financial market infrastructure, providing a safer, faster, and more flexible digital foundation for new application scenarios in the securities and payment sectors.