Johor Regent Launches Ringgit-Backed Stablecoin on Malaysia Blockchain

Malaysia just got a royal crypto endorsement—and it's backed by the national currency.

The Johor Regent has launched a ringgit-pegged stablecoin directly on a Malaysian blockchain, bypassing traditional financial gatekeepers and putting sovereign digital currency in the spotlight.

Why a Royal Stablecoin Matters

This isn't another speculative token. It's a direct, blockchain-native representation of the Malaysian ringgit. The move cuts out correspondent banks, reduces settlement times from days to seconds, and creates a programmable version of the national currency.

For regional trade and remittances, the implications are huge. Transactions that once crawled through legacy systems can now flow on-chain—with royal backing adding a unique layer of institutional credibility.

The Infrastructure Play

Launching on a domestic blockchain is the real story here. It keeps monetary sovereignty onshore, gives regulators a clear audit trail, and builds local tech expertise. Think of it as digital infrastructure with a national flag on it.

Other ASEAN nations are watching. A successful, royally-backed stablecoin could become a template for regional digital currency cooperation—or trigger a quiet race for monetary influence.

A Nod to the Future—and a Jab at the Past

This launch signals a shift. It's a recognition that the future of finance won't be built solely by startups or banks, but sometimes by institutions with the authority to move fast.

The closer? A stable, blockchain-native ringgit could streamline everything from corporate treasury operations to migrant worker remittances. It's a pragmatic step toward modernizing monetary flow—and a quiet rebuke to financial intermediaries who've built fortunes on moving money slowly. After all, why pay for settlement latency when a blockchain does it for pennies?

Bullish Aim, chaired by Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor, has launched RMJDT, a ringgit-backed stablecoin issued on Zetrix, the layer-1 blockchain underlying Malaysia's national blockchain infrastructure.

The stablecoin launched Tuesday under a regulated sandbox framework and is designed to facilitate cross-border trade settlements using the Malaysian ringgit and attract foreign direct investment, according to the announcement. The initiative aligns with Malaysia's Digital Asset National Policy.

Alongside the stablecoin launch, Bullish Aim will establish a Digital Asset Treasury Company with an initial allocation of RM500 million ($112 million) in Zetrix tokens, with plans to increase holdings to RM1 billion. The treasury structure draws from models used by corporate Bitcoin holders such as Strategy and BitMine.

The treasury will manage network gas fees for RMJDT transactions and stake Zetrix tokens to support up to 10% of validator nodes within the Malaysia Blockchain Infrastructure. The Regent of Johor described the treasury as strategically necessary to support operational stability and align with national blockchain infrastructure.

The dual initiatives reflect efforts to advance digital innovation within Malaysia's approved sandbox environment, which provides regulatory oversight for digital asset experimentation. RMJDT represents one of the first major stablecoin projects tied to Malaysia's national blockchain infrastructure.

The launch comes as Southeast Asian governments develop frameworks for stablecoin issuance and digital asset integration into financial systems. Malaysia established its blockchain infrastructure and digital asset policy framework to support controlled development of blockchain-based financial services.