Bank Negara unveils tokenised bonds platform

KUALA LUMPUR: Bank Negara Malaysia has recently introduced a platform named Ssds+ to manage the issuance, storage, and safekeeping of tokenised bonds and sukuk. This platform aims to simplify transactions, offer more flexibility in creating financial instruments, and widen investment opportunities.

Ssds+ is an in-house creation utilizing cloud and distributed ledger technologies. It expands upon the existing scripless securities depository system, which serves as the central repository for the wholesale financial market. In addition to wholesale bond issuances, Ssds+ is also capable of handling tokenised government and retail bonds. This is made possible through its integration with Rentas+, which ensures secure payment and settlement services around the clock.

The platform is responsible for transferring tokenised securities and keeping track of ownership records. Meanwhile, Rentas+ handles the corresponding payments for bond purchases in central bank money. Bank Negara's governor, Datuk Seri Abdul Rasheed Ghaffour, highlighted that the launch represents a significant step in modernising Malaysia's financial market infrastructure.

He stated that Ssds+ and Rentas+ offer a secure, quicker, and more adaptable foundation for new securities and payment applications, promoting innovation and contributing to more efficient and responsive financial markets.