KUALA LUMPUR, June 17 (Xinhua) -- The Malaysian central bank on Tuesday launched the Digital Asset Innovation Hub to stimulate financial innovation in a controlled environment for applicants to test new ideas and provide input to fine-tune regulatory and security frameworks.
Bank Negara Malaysia (BNM) said that this is to support the development of digital assets and the application of leading financial technology in Malaysia.
Malaysia's Prime Minister Anwar Ibrahim said in his keynote speech that the hub is a testament to Malaysia's commitment to ensure policy evolves alongside innovation.
"The hub will serve as a catalyst for progress, enabling innovators to test use cases such as programmable payments, ringgit-backed stable coins and supply chain financing; unlocking new efficiencies across the financial system and the broader economy," he said.
