Johor Regent Launches Ringgit-Backed Stablecoin to Boost Cross-Border Trade
Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor, has unveiled RMJDT—a Malaysian ringgit-pegged stablecoin issued on the Zetrix blockchain. The project operates under Malaysia's regulatory sandbox framework, aiming to streamline cross-border settlements and attract foreign investment.
Bullish Aim, chaired by the Regent, will establish a Digital Asset Treasury with an initial RM500 million ($112 million) in Zetrix tokens, scaling to RM1 billion. The treasury will manage transaction fees and support validator nodes on Malaysia's national blockchain infrastructure.
The initiative aligns with the country's Digital Asset National Policy, positioning RMJDT as a strategic tool for financial innovation. 'This treasury model ensures operational stability while advancing our blockchain ecosystem,' the Regent noted.
