Maybank's first on-chain MYR-SGD payment gives Malaysia its clearest tokenised-deposit operating proof yet

Maybank's first executed MYR-SGD tokenised-deposit payment with Yinson changes the read-through on Malaysia's bank-money settlement stack.

Maybank has moved from announcing a ringgit tokenised-deposit pilot to executing a first MYR-SGD transaction with Yinson on 25 March 2026, tying an on-chain FX leg to a near-real-time Malaysia-Singapore payment.

The pilot is clearly BNM-supervised through the Digital Asset Innovation Hub, but it remains a controlled test rather than a production launch: no specific blockchain protocol, technology vendor, notional size, receiving bank, or atomic PvP design has been disclosed.

The strategic read-through is validation of bank-led tokenised settlement in Malaysia, with the main opening above the rail sitting in multi-bank orchestration, policy enforcement, interoperability, and audit-grade evidence rather than in FX execution itself.

The first executed transaction with Yinson matters because it shows a bank-supervised tokenised-deposit workflow in motion on a Maybank-owned permissioned rail, even though the underlying DLT stack, counter-bank architecture and PvP mechanics remain undisclosed.