Bank Negara Malaysia (BNM) launched SSDS+ Tuesday, a platform for tokenized bonds and sukuk that connects securities records to around-the-clock settlement in central bank money and is ready for retail bond issuance.
The system handles issuance, deposit and safekeeping while recording ownership and transfers. BNM said it is ready to support tokenized government bonds and retail corporate bonds alongside wholesale securities.
A connection to RENTAS+ allows payments for digital bond purchases to settle at any hour. BNM introduced RENTAS+ in 2025 to provide continuous interbank settlement, giving SSDS+ a payment channel alongside its securities records.
SSDS+ extends BNM's Scripless Securities Depository System for the wholesale market. The new platform uses cloud and distributed ledger technology, the central bank said.
Malaysia's bond and sukuk market stood at about RM2.35 trillion at the end of June 2026. The figure appeared in Sept. 9 remarks prepared for Bank Negara Malaysia Governor Dato’ Sri Abdul Rasheed Ghaffour and delivered by Deputy Governor Marzunisham Omar.
Those remarks described an earlier shift from manual, paper-based securities issuance to the FAST system. They also outlined a planned Sept. 25 soft launch for SSDS+, ahead of the Oct. 20 announcement.
BNM said broader investor access is one potential benefit of digital securities. It also expects the format to simplify transactions and accommodate a wider range of instruments. The bank described SSDS+ as ready to support issuance; it did not announce a tokenized bond issued through the platform.
