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Malaysia’s Royal Unveils Ringgit-B
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Malaysia’s Royal Unveils Ringgit-B
Malaysia’s Royal Unveils Ringgit-Backed Stablecoin for APAC Payments
Malaysia’s Royal Unveils Ringgit-Backed Stablecoin for APAC Payments
The new fiat-pegged token arrives as Asia leads global stablecoin use, with over 50% of institutions in the region already on board.
By Olivier Acuna|Edited by Oliver Knight
Updated Dec 9, 2025, 1:48 p.m. Published Dec 9, 2025, 1:48 p.m.
Right) TS Wong, Co-founder of Zetrix and (Left) Dato’ Lion Peh, Managing Director of Bullish Aim Sdn Bhd, exchanging the agreement, witnessed by (Middle) Ismail Ibni Sultan Ibrahim, chair and owner of Bullish Aim Sdn.
What to know:
- Malaysia's king's eldest son launched a ringgit-backed stablecoin, RMJDT, aimed at enhancing cross-border trade and attracting foreign investment in the Asia-Pacific region.
- The stablecoin, with an initial supply of 500 million tokens, is backed by ringgit cash deposits and short-term local government bonds.
- The Asia-Pacific region is the fastest-growing market for stablecoins, with 56% of institutions already using them for payments and treasury purposes.
Malaysia’s king’s eldest son today unveiled a local currency-backed stablecoin designed for cross-border trade and attracting foreign investment spanning the Asia-Pacific region, according to an official statement.
Ismail Ibrahim, owner of telecommunication firm Bullish Aim Sdn, is behind the rollout of the stablecoin called RMJDT, which is pegged to Malaysia’s ringgit. The stablecoin, which will initially have a total supply of 500 million tokens (approximately $121.5 million) will be backed by ringgit cash deposits and short-term local government bonds, his company’s press release added.
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“As the issuer of RMJDT, we view the establishment of a Zetrix-token treasury as a strategic necessity, both to support operational stability and to deepen alignment with the national blockchain,” said Ibrahim in the press release. His company views the RMJDT as a faster, safer and more efficient way to transact, according to the statement. Bullish Aim Sdn did not immediately respond to CoinDesk’s request for further comment
The launch of the fiat-pegged token comes amid a series of plans across Asia to push forward stablecoin initiatives this year. Hong Kong leads the pack following the release of stablecoin regulations in July.
In October, Circle reported $2.4 trillion in on-chain stablecoin activity across the APAC region between June 2024 and June 2025, noting that it is the fastest-growing market globally.. The company also said the region has the highest adoption rate worldwide, with 56% of institutions in Asia already using stablecoins for payments, settlements, and treasury purposes.
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