Malaysia's Stock Exchange Eyes Blockchain for Bond Market Digitization

Known as Project Harbour, the initiative will use distributed ledger technology as a register for a bond marketplace.

AccessTimeIconJul 30, 2020 at 9:24 a.m. UTC
Updated May 9, 2023 at 3:10 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Malaysia's national stock exchange will explore the digitization of the country's bond market through a proof-of-concept blockchain project.

  • Known as Project Harbour, the initiative will use distributed ledger technology (DLT) as a register for the Labuan Financial Exchange’s (LFX) bond marketplace.
  • LFX is a subsidiary of Bursa Malaysia, the country's stock exchange, which is collaborating with Singapore-based fintech development firm Hashstacs on the project.
  • The project will use DLT to enable a single source of information to be shared securely between participating banks and the exchange, a company press release said.
  • DLT could create an industry-wide ecosystem that would pave the way for a "complete solution" in the clearing and settlement of bonds on the platform, said Hashstacs' managing director, Benjamin Soh.
  • The trial will also look at improving operational efficiency and reducing cost for the exchange and for bond issuance.
  • Bursa Malaysia, along with the Securities Commission of Malaysia, Labuan Financial Services Authority, CIMB Investment Bank Berhad and others will use Hashstac's infrastructure to test and manage the end to end life-cycle of the bonds.
  • What South Korea's Latest Election Means for Crypto Adoption in the Country
    00:38
    What South Korea's Latest Election Means for Crypto Adoption in the Country
  • Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
    00:52
    Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
  • What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
    19:02
    What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
  • Would You Get Paid in Crypto?
    00:57
    Would You Get Paid in Crypto?
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.