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# Maybank Pioneers On-Chain MYR-SGD Tokenised Deposits Pilot
- URL: https://www.theglobalbanker.com/maybank-pioneers-on-chain-myr-sgd-tokenised-deposits-pilot/
- Published: 2026-03-30T12:33:26.000Z
- Updated: 2026-10-01T23:24:58.000Z
- Description: Malaysia's Maybank has completed its first on-chain transaction converting tokenised ringgit deposits to Singapore dollars for Yinson Holdings, showcasing near real-time cross-border payments via its permissioned blockchain.
- Author: TGB Editorial Team
- Tags: Fintech, Asia-Pacific

Malaysia's largest lender, Maybank, has completed the first on-chain transaction involving tokenised deposits in the MYR-SGD corridor. On March 25, 2026, the bank completed the transaction with energy infrastructure firm Yinson Holdings Berhad, which Maybank described as a significant milestone in its digital innovation journey.

This pilot integrates tokenization of bank deposits with an on-chain foreign exchange conversion of Malaysian ringgit to Singapore dollars, and a subsequent cross-border payment from Malaysia to Singapore in near real-time using Maybank's permissioned blockchain. The 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.

#### HOW THE PILOT WORKED

The workflow integrated deposit tokenisation—converting traditional bank deposits into blockchain-based digital tokens—with on-chain FX conversion and cross-border transfer. 

Maybank said the transaction advances its mission of Humanising Financial Services, which sits at the heart of its ROAR30 five-year strategy. 

Khairussaleh Ramli, Maybank's President and Group Chief Executive Officer, explained the choice of currency pair. "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," he said. Ramli further noted, "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 optimization."

#### STRATEGIC PARTNERSHIP

Yinson Holdings Berhad, a Malaysia-based energy infrastructure company, was the participant in the pilot. Since announcing the collaboration, Maybank has received strong market interest to collaborate on further pilots.

Ramli said: "This is encouraging, and with the next phase underway, we are exploring additional use cases and partnerships with clients across multiple segments." These include tokenised Islamic finance solutions for businesses ranging from large corporates to SMEs, as well as retail and wealth clients. 

#### BNM INNOVATION HUB

The transaction builds on the ringgit tokenised money pilot that Maybank announced in February under Bank Negara Malaysia's Digital Asset Innovation Hub (DAIH), in which Yinson was a participant. Under ROAR30, Maybank has committed RM10 billion (about US$2.5 billion) over five years to technology, bolstering its digital capabilities.

#### IMPLICATIONS FOR TREASURY

The successful transaction demonstrates the technical feasibility of on-chain workflows and highlights its potential for corporate treasury workflows to enhance operational efficiency and settlement speed.

Maybank says it has received strong market interest in further pilots since announcing the partnership with Yinson, and it is exploring use cases including tokenised Islamic finance for corporates and SMEs.