KUALA LUMPUR: Malayan Banking Bhd (Maybank) has successfully completed a RM1.0-million pilot transaction for tokenised supply chain financing (SCF), aimed at advancing transparency and resilience within supply chain ecosystems.
The transaction was carried out in partnership with Virtual Economy Technology Sdn Bhd (V Systems) via its tokenisation platform, NexA, which was developed under the Securities Commission Malaysia’s (SC) Regulatory Sandbox.
The transaction involved Syarikat Logam Unitrade Sdn Bhd with Maybank providing the financing.
In a joint statement today, Maybank and V Systems said the successful pilot demonstrated a fully tokenised end-to-end SCF journey from invoice approval to disbursement and settlement within a live commercial environment, bringing greater transparency, traceability and speed.
“The platform has the potential to transform conventional SCF workflows and enable instant access to working capital for buyers and suppliers, particularly benefiting the micro, small and medium enterprises (MSMEs) segment,” they said.
The parties said the capability would serve as a catalyst for industries within the 13th Malaysia Plan, with a focus on digitalisation, value creation and high-growth sectors, particularly those with deep or multi-tier supply chains where liquidity can be unlocked further down the ecosystem.
Maybank’s Managing Director of Transaction Banking and Payments at Global Banking, Arvind Santhanam Prasad, said the pilot tokenisation aligns with the bank’s ROAR30 five-year strategic plan and the aspirations of the SC’s Capital Market Masterplan 2026-2030 to drive innovation and inclusive finance through technology-enabled solutions.
Meanwhile, V Systems’ Chief Executive Officer, Goh Yuan Khai, added that the collaboration highlights the growing role of digital finance in supporting more connected and efficient markets.
The pilot transaction is Maybank’s latest tokenisation milestone, building on a series of firsts: Malaysia’s maiden tokenised sukuk issuance, and an on-chain Malaysian ringgit-Singapore dollar foreign exchange conversion and cross-border payment between Malaysia and Singapore. – BERNAMA
