CIMB Islamic Bank has completed a pilot settling tokenized sukuk using tokenized deposits, bringing together two strands of Malaysia’s digital asset development for the first time.
The pilot involved a RM1.68 billion issuance under CIMB Islamic Bank’s existing Senior Sukuk Wakalah Programme, with tenors of five to 15 years. Of the total, RM1.38 billion ($342m) was tokenized and subscribed by 12 institutional investors. The remaining RM300 million was issued as traditional sukuk.
Pairing tokenized securities with tokenized money is widely viewed as essential to unlocking the efficiency benefits of distributed ledger technology, enabling greater automation and reducing settlement delays.
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