Malaysia seeks blockchain finance reform with Binance founder’s input

Malaysia is intensifying its push to become a regional leader in blockchain and digital finance, with discussions involving Binance founder Changpeng Zhao (CZ) about the country’s future as a digital asset hub.

On April 22, Prime Minister Anwar Ibrahim met with Zhao to explore ways to integrate blockchain technology into Malaysia’s financial systems and drive tokenisation initiatives.

Anwar described the meeting as “productive,” highlighting the importance of collaboration between government bodies such as the Securities Commission, Bank Negara Malaysia, and the Ministry of Digital to foster responsible innovation.

“It is clear that government leadership is important in driving blockchain adoption, such as through digitisation,” he emphasised.

The talks centered on Malaysia’s goal to become a hub for digital assets and tokenisation, with the Prime Minister underscoring the need for proactive regulation and policy frameworks.

“With the right steps, Malaysia can place itself at the forefront of global digital transformation,” he added.

Bank Negara Malaysia (BNM) has already signaled a shift by collaborating with the private sector to explore tokenised bank deposits and on-chain settlement, aiming to combine blockchain’s benefits with traditional finance’s security.

“We want to ensure that we provide the right platform for it to happen [and] have the appropriate guidelines and safeguards in place,” stated BNM Governor Abdul Rasheed Ghaffour.

The meeting with CZ is part of Malaysia’s broader effort to create a balanced regulatory approach that promotes innovation while ensuring investor protection and compliance with international standards.

The country’s private sector is also experimenting with tokenisation, including a recent $23 million real estate project.

“With the right steps, Malaysia can place itself at the forefront of global digital transformation,” expressed Zhao, sharing optimism about Malaysia’s direction.