- The Crown Prince of Malaysia has launched RMJDT, a ringgit-backed stablecoin issued on the Zetrix Layer-1 blockchain.
- Alongside the stablecoin launch, Bullish Aim Sdn. Bhd., the crowned prince company, has announced the launch of a Digital Asset Treasury Company that will start with 500 million ringgit in Zetrix tokens.
The Crown Prince of Malaysia, His Royal Highness Tunku Ismail Ibni Sultan Ibrahim, has taken a major step into the cryptocurrency industry by launching a new ringgit-backed stablecoin and also announcing his ambitious crypto-treasury plan. This step by the prince marks one of the most significant moves by a Malaysian state figure into blockchain technology.
The RMJDT Stablecoin Launched on Zetrix Plans to Drive Malaysia’s Digital Finance Innovation
According to the details shared by PR Newswire, a local news outlet, the initiative is led by Bullish Aim Sdn. Bhd., a company that is owned and chaired by the Crown Prince. The company introduced RMJDT, a stablecoin asset backed by the Malaysian ringgit. Currently, the token is issued on Zetrix, a Layer-1 blockchain that also powers the country’s national Malaysia Blockchain Infrastructure. So by launching on Zetrix, RMJDT becomes a part of Malaysia’s goal of evolving financial systems and improving trust in digital payments.
To ensure safety and proper testing, the stablecoin rollout is happening inside Malaysia’s regulated financial sandbox. An innovation that allows innovations like stablecoins, programmable payments, and other financial technologies to be tested under supervision before they are released into the country’s financial system.
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According to the Crown Prince, the launch of the stablecoin is not only a technical experiment but also part of Johor state’s plan to follow through with Malaysia’s Digital Asset National Policy. This policy encourages the tokenization of real-world assets and the use of digital tools to support industries such as supply chain finance.
Alongside the launch of the RMJDT stablecoin, Bullish Aim has revealed its plans to build a Digital Asset Treasury Company. The treasury will hold about 500 million ringgit (equivalent to $121 million) worth of Zetrix tokens, and they have a long-term target of increasing it to one billion ringgit.
This treasury is meant to help stabilize gas fees for RMJDT transactions and support up to 10% of validator nodes on the national blockchain network. With this strategy, the Crown Prince aims to create a more predictable environment for digital payments and blockchain activity within Malaysia.
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