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Standard Chartered and AirAsia Parent Explore Ringgit-Backed Stablecoin

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Standard Chartered Bank Malaysia and Capital A, the mum or dad firm of AirAsia, have taken a serious step into the nation’s digital asset panorama with plans to discover a ringgit-pegged stablecoin.

Key Takeaways:

  • Standard Chartered and Capital A will collectively discover a ringgit-backed stablecoin constructed for institutional and wholesale use.
  • The pilot operates beneath Malaysia’s Digital Asset Innovation Hub because the nation accelerates tokenization.
  • Malaysia has been pushing towards a broader nationwide digital-asset technique.

The two firms signed a letter of intent on Friday to work on the initiative beneath Malaysia’s Digital Asset Innovation Hub, a regulatory framework launched by Bank Negara Malaysia (BNM) in June to encourage experimentation in tokenization and blockchain-based finance.

Standard Chartered, Capital A Target Institutional Use Cases for Ringgit Stablecoin

The effort marks Capital A’s first involvement in regulated digital asset growth.

Under the plan, Standard Chartered Malaysia would act because the issuer of the ringgit-backed token, whereas Capital A and its ecosystem companions would design and check wholesale-focused use circumstances.

The firms emphasised that the pilot will goal institutional and enterprise purposes reasonably than retail customers.

Both events framed the challenge as aligned with Malaysia’s wider ambitions to modernize funds, settlement rails and capital markets by way of rising applied sciences.

Capital A stated the collaboration “helps the aspirations of Malaysia,” signaling that stablecoins might change into a part of the nation’s long-term monetary infrastructure technique.

The transfer follows rising curiosity inside Malaysia’s management, together with the launch of a separate ringgit-backed stablecoin by the eldest son of the nation’s king.

BNM has lately accelerated its work in digital belongings. Last month, it launched a three-year roadmap to check asset tokenization in dwell environments and introduced the formation of an Asset Tokenization Industry Working Group to coordinate growth throughout banks, fintechs and regulators.

The central financial institution’s initiatives purpose to offer managed testing grounds whereas figuring out authorized and regulatory hurdles forward of broader adoption.

Malaysia has been reassessing its digital asset stance since early 2025, when authorities officers started exploring a brand new nationwide crypto coverage.

Earlier this week, Malaysia’s Crown Prince formally stepped into the digital-asset sector with a brand new state-backed stablecoin initiative and a big crypto-treasury plan.

Bullish Aim Sdn. Bhd., chaired and owned by His Royal Highness Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor, introduced the launch of RMJDT, a ringgit-backed stablecoin issued on Zetrix, the Layer-1 blockchain that powers Malaysia’s nationwide Malaysia Blockchain Infrastructure.

Malaysia’s Securities Regulator Proposes Major Overhaul of Crypto Exchange Rules

As reported, Malaysia’s Securities Commission (SC) has unveiled plans to modernize its Digital Asset Exchange (DAX) regulatory framework following a surge in crypto buying and selling volumes, which hit RM13.9 billion ($2.9 billion) in 2024, greater than double the earlier 12 months.

The SC’s session paper, open from June 30 to August 11, 2025, outlines reforms aimed toward rushing up token listings, strengthening governance, and enhancing investor safety as Malaysia’s digital asset ecosystem matures.

Under the proposed guidelines, eligible tokens could possibly be listed on regulated exchanges with out prior SC approval, offered they meet predefined standards.

The transfer is meant to cut back regulatory bottlenecks and permit exchanges to reply quicker to market demand, although it locations extra duty on operators to make sure compliance and handle dangers.

The regulator additionally plans to impose stricter governance requirements, together with segregation of shopper belongings, improved danger administration, and increased monetary thresholds for DAX operators to bolster resilience and investor confidence.

The reforms kind a part of Malaysia’s broader fintech and crypto modernization push, which incorporates Bank Negara Malaysia’s exploration of asset tokenization and CBDC pilots.

However, regulators proceed to emphasize warning, sustaining that cryptocurrencies should not authorized tender and ramping up enforcement in opposition to unlicensed exchanges comparable to Bybit and Huobi.

The submit Standard Chartered and AirAsia Parent Explore Ringgit-Backed Stablecoin appeared first on Cryptonews.

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