KUALA LUMPUR (March 31): Maybank, a participant of Bank Negara Malaysia’s Digital Asset Innovation Hub, completed the first transaction under its inaugural pilot project for tokenised deposits and cross-border payment with Yinson Holdings Bhd, a global energy infrastructure company. According to its press release, the project integrates tokenisation of bank deposits with an on-chain foreign exchange (FX) conversion of Malaysian ringgit to Singapore dollars and a subsequent cross-border payment from Malaysia to Singapore in near real-time. The transaction, which utilises Maybank’s permissioned blockchain, demonstrates the technical feasibility of on-chain workflows and highlights its potential for incorporation into corporate treasury workflows to enhance operational efficiency and settlement speed. Datuk Seri Khairussaleh Ramli, president and group CEO of Maybank, said the bank’s strategic focus on the MYR-SGD currency pair reflects the ambition to lead in facilitating seamless cross-border transactions, leveraging Maybank’s Malaysia-Singapore corridor advantage and position as an Asean gateway bank. “We are pushing ahead in our ROAR30 strategy to build a regional transaction and payments platform across Asean that delivers integrated client experiences, frictionless money movement and liquidity optimisation.”He said Maybank has received strong market interest to collaborate on further pilots since the announcement of its pioneering partnership with Yinson.

Source: The Edge Markets March 31, 2026 06:21 UTC