Malaysia's central bank, Bank Negara Malaysia (BNM), is set to launch three initiatives focused on stablecoins and tokenized deposits in 2026. These projects aim to enhance wholesale payment systems, both domestically and for cross-border transactions. Key participants in this venture include Standard Chartered Bank Malaysia and Capital A, among others. The initiatives will be tested under the Digital Asset Innovation Hub (DAIH), which acts as a regulatory sandbox for crypto innovation in Malaysia. The first project involves a B2B Ringgit stablecoin settlement initiative led by Standard Chartered and Capital A. The other two initiatives, driven by Maybank and CIMB, will focus on tokenized deposits for payment purposes. BNM plans to assess the potential impacts of these projects on monetary and financial stability. By the end of 2026, the bank aims to provide clearer guidelines on the use of ringgit stablecoins and tokenized deposits, which may complement its ongoing work on wholesale central bank digital currencies (CBDCs).