Malaysia's New Stablecoin is Designed for the Asia-Pacific

Malaysia's Ringgit-Backed Stablecoin

Malaysia's royal family's eldest son has launched a ringgit-backed stablecoin called RMJDT. This new digital asset aims to enhance cross-border trade in the Asia-Pacific region and attract foreign investments.

RMJDT was introduced with an initial supply of 500 million tokens. This stablecoin is backed by ringgit cash reserves and short-term local government bonds.

The Asia-Pacific region stands out as the fastest-growing area in the stablecoin market. In this region, 56% of institutions are using stablecoins for payments and treasury operations.