Malaysia’s Digital Finance Revolution: Johor Regent Backs Launch of Ringgit-Pegged Stablecoin RMJDT on Zetrix
Malaysia’s digital finance landscape is witnessing a pivotal transformation with the official launch of RMJDT, a groundbreaking stablecoin pegged to the Malaysian Ringgit (MYR). This significant initiative comes from Bullish Aim, a company under the esteemed patronage of His Royal Highness Tunku Ismail Ibni Sultan Ibrahim, the Regent and Crown Prince of Johor. The launch is accompanied by a strategic deployment of a robust digital asset treasury, marking a new era for Malaysia’s digital economy.
The RMJDT stablecoin is issued on the Zetrix blockchain, which serves as the core Layer1 public chain underpinning Malaysia’s National Blockchain Infrastructure (MBI). According to reports from Bloomberg, citing informed sources, RMJDT will maintain its unwavering 1:1 peg to the Ringgit through comprehensive reserves comprising Ringgit cash deposits and Malaysian short-term government bonds, ensuring stability and trustworthiness.
Enhancing Global Trade and Investment with RMJDT
Operating within the central bank-led digital asset sandbox, RMJDT is strategically positioned to bolster the Ringgit’s international circulation and acceptance, particularly in cross-border trade settlements. This move is anticipated to attract greater foreign investment into Malaysia’s burgeoning digital ecosystem. The official statement underscores that this initiative aligns seamlessly with global tokenization trends and directly supports Malaysia’s forward-thinking national digital asset policy, signaling the nation’s commitment to embracing the future of finance.
Strategic Digital Asset Treasury and Web3 Infrastructure
To complement the RMJDT launch and ensure its long-term stability, Bullish Aim is establishing a dedicated digital asset treasury company. This entity will initially commit RM 500 million (approximately USD 121 million) to acquire Zetrix tokens as reserve assets, with ambitious plans to expand this to RM 1 billion (approximately USD 242 million) in the future. A critical function of this treasury will be to stabilize the transaction fees (gas fees) associated with RMJDT, ensuring predictable and efficient operations for users.
Beyond transactional stability, the digital asset treasury company will also play a pivotal role in strengthening Malaysia’s national Web3 infrastructure. By staking Zetrix tokens, it will support up to 10% of the validation nodes within Malaysia’s blockchain infrastructure. This strategic commitment is designed to enhance the long-term robustness, security, and efficiency of the entire blockchain ecosystem, laying a solid foundation for future digital innovation.
His Royal Highness Tunku Ismail emphasized the strategic imperative behind these developments, stating, “As the issuer of RMJDT, we view the establishment of the Zetrix Reserve Company as a strategically imperative arrangement, ensuring both operational stability and strong alignment with Malaysia’s national blockchain initiatives.”
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