Maybank announced that it had completed the first transaction under its inaugural pilot project for tokenised deposits and cross-border payments with Yinson Holdings Berhad, the global energy infrastructure company, on 25 March 2026.
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, utilising Maybank’s permissioned blockchain. The successful transaction 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.
Dato’ Sri Khairussaleh Ramli, President and Group CEO of Maybank said, “Our 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.
“Since announcing our pioneering partnership with Yinson Holdings Berhad, we have received strong market interest to collaborate on further pilots. This is encouraging and with the next phase underway, we are exploring additional use cases and partnerships with clients across multiple segments. This includes tokenised Islamic finance for businesses from large corporates to SMEs (small and medium enterprises), retail and wealth client solutions.”
