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Johor Prince Launches Ringgit Stablecoin
11 Dec
Summary
- Johor's crown prince introduced the RMJDT stablecoin, pegged to the Malaysian ringgit.
- The stablecoin is backed by ringgit deposits and Malaysian government bonds.
- RMJDT will operate on Zetrix blockchain, supporting Malaysia's digital services platform.
The crown prince of Johor has introduced the RMJDT stablecoin, a new digital asset pegged to the Malaysian ringgit, aiming to revolutionize payment systems across the nation. This move marks a significant development in Southeast Asia's growing interest in regulated blockchain technology for financial applications.
The RMJDT stablecoin is financially secured by ringgit cash deposits and short-term Malaysian government bonds. Its introduction is intended to provide businesses and consumers with a more efficient, secure, and rapid method for everyday transactions, enhancing the country's financial infrastructure.
This stablecoin will be issued on the Zetrix blockchain, which is part of Malaysia's government-backed digital services platform. The initiative aligns with Malaysia's broader efforts to embrace regulated crypto development and improve its framework for tokenized assets and stablecoin-based financial tools.
