Standard Chartered and AirAsia Parent Explore Ringgit-Backed Stablecoin
Standard Chartered Bank Malaysia and Capital A, the parent company of AirAsia, are venturing into Malaysia's digital asset space with plans to develop a ringgit-pegged stablecoin. The initiative, operating under the country's Digital Asset Innovation Hub, aims to explore institutional and wholesale use cases for the token.
Malaysia's push toward a broader digital-asset strategy gains momentum as these financial and aviation giants collaborate. Standard Chartered will serve as the issuer, while Capital A designs wholesale-focused applications—a deliberate MOVE away from retail consumer targeting.
The partnership signals growing institutional interest in blockchain-based finance within regulated frameworks. Bank Negara Malaysia's regulatory sandbox provides the necessary infrastructure for such experiments in tokenization and modernized payment rails.
