Malaysia wholesale tokenized-cash settlement
Bank-led ringgit settlement between approved institutions across tokenized deposits and bank stablecoins, with instrument choice, governed timing, finality evidence, and reconciled close.
Overview
Route coverage
- 4-stage wholesale settlement path
- Institution, resident-status, and policy gating
- Selected ringgit money-form release
- Bank finality and exception handling
- Reconciliation, exports, and audit close
Infrastructure
- StableNexus control-plane orchestration
- Participant, policy-basis, and reserve evidence controls
- Bank-led instruction, finality, and proof normalization
- Reconciliation close, exception queue, and export bundle
Lifecycle stages
| Stage | Flow steps | Notes |
|---|---|---|
| Settlement Scope | Capture the wholesale treasury objective, participating institutions, and the route boundary before any tokenized-cash movement begins | |
| Policy And Reserve Gate | Model the participant allowlist, route-policy controls, reserve evidence requirements, and named settlement assumptions before release | Display policy caution only when the selected money form still depends on a supervised or program-gated Malaysia lane. |
| Bank Led Settlement | Route the settlement instruction through the named bank-led stablecoin or tokenized-deposit executor and keep the transfer and finality proofs explicit | Display policy caution only when release depends on a bank-issued tokenized-cash authorization rather than a routine public payment rail. |
| Reconcile And Report | Publish the reconciliation, treasury state change, and reporting pack so the wholesale lane closes with explicit closeout evidence |
Setup reference
| Field | Explanation | Related terms |
|---|---|---|
| Settlement size | Sets the ringgit amount carried through this settlement workflow. Determines the values shown in the instruction, finality, and close records. | |
| Cash instrument | Supports more than one cash instrument. Controls which instrument settles the workflow and which records are created. | Tokenized deposit, Tokenized cash |
| Settlement window | Sets when settlement can clear. Controls when the instruction can release and close. | Settlement window, Settlement finality |
| Sending institution | Identifies the sending institution. Determines who starts the workflow and who appears on the source side of the records. | |
| Receiving institution | Identifies the receiving institution. Determines who can receive settlement and who appears on the destination side of the records. | |
| Settlement currency | Fixed for this case. Scoped to MYR settlement. |