The Securities Commission Malaysia has reported robust growth in the digital asset market, emphasizing increased trading activities and digital asset management. Average daily trading values of crypto-exchanges surged, and substantial funds were raised via Initial Exchange Offerings. The SC’s collaboration with Khazanah Nasional seeks to advance tokenized solutions, driving further innovation in the market.
On March 20, the Securities Commission Malaysia (SC) announced that the growth of Malaysia’s digital asset ecosystem reflects increasing investor familiarity with cryptocurrencies. Their Annual Report 2024 highlights significant progress in crypto-asset trading, driven by regulated market players and aligned with their digital agenda for a diversified capital market.
The SC indicated a substantial rebound in crypto trading, revealing that the average daily trading value of Recognised Market Operators – Digital Asset Exchanges (RMO-DAX) has surged 2.6 times compared to the previous year. The report also noted activities related to Initial Exchange Offerings (IEOs) that raised a total of RM48 million last year through diverse tokens, including Shariah-compliant investment notes.
Moreover, the SC emphasized the promise of blockchain technology in enhancing programmability and transparency, which attracts global interest in tokenizing securities. To advance this initiative, SC is collaborating with Khazanah Nasional Berhad to explore issuing a tokenized bond or sukuk, which will deepen both parties’ understanding of blockchain’s advantages and risks.
Digital investment management has witnessed extraordinary growth, with a more than 500-fold increase in total assets under management, now valued at RM1.9 billion since December 2018. Additionally, the SC reported that subscriptions to capital market products through e-services platforms have exceeded RM53 million by December 2024, doubling from the prior year, with RM33 million in subscriptions recorded in 2024 alone.
The Securities Commission Malaysia has reported a significant uptick in the digital asset ecosystem, marked by increased crypto trading and digital investment management growth. As regulated operators expand and the adoption of blockchain technology rises, Malaysia’s capital market is set to diversify and evolve. Collaborative initiatives with key institutions aim to enhance understanding of tokenization, promising both innovation and integration into traditional finance.
Original Source: www.bernama.com
