Malaysian Crown Prince Launches Ringgit Stablecoin With $121M Zetrix Treasury
The sandbox began operations in June to facilitate testing of financial innovations.
Malaysia Crypto News
Tunku Ismail Sultan Ibrahim, son of Sultan Ibrahim Iskandar of the Johor royal family, has announced a ringgit-backed stablecoin through his telecom firm Bullish Aim. The token, called RMJDT, will be issued on the Zetrix layer-1 blockchain.
Local-currency cash deposits and short-term Malaysian government bonds will back the stablecoin. The project targets payment applications across Asia-Pacific markets.
Lion Peh, managing director at Bullish Aim, said the company envisions RMJDT becoming Malaysia’s standard for crypto-based transactions. The token aims to provide businesses, consumers, and innovators with improved transaction…
