Standard Chartered’s Ringgit Stablecoin Plan Gains Momentum with AirAsia Parent Company

Forget waiting for central bank digital currencies—the real action is happening in corporate corridors. Standard Chartered just turbocharged its Malaysian ringgit stablecoin project by bringing AirAsia's parent company, Capital A, into the fold. This isn't a vague memorandum of understanding; it's a concrete step toward a live, regulated stablecoin for Southeast Asia's massive travel and payments ecosystem.

The Partnership That Changes the Game

Think about it: one of the world's largest banks teams up with a regional aviation giant that serves millions. This move bypasses the slow, theoretical debate and plants a flag in real-world utility. The goal? A digital ringgit that moves as fast as a booking confirmation—seamlessly integrated into Capital A's super-app for everything from flights to e-commerce.

Why This Isn't Just Another Pilot

Most bank-led crypto projects die in the proof-of-concept phase, a graveyard of press releases and forgotten LinkedIn posts. Standard Chartered and Capital A are targeting something different: actual adoption. They're building on a regulated digital asset platform, Zodia Markets, aiming for the holy trinity—speed, compliance, and scale. It's a direct challenge to the clunky, expensive legacy cross-border systems that still dominate regional finance.

The Bigger Picture: Corporate Stablecoins Take Flight

This deal signals a shift. The future of money might not be minted by a central bank, but by the corporations that already move it. A stablecoin backed by a major bank and plugged into a massive consumer network could do more for daily crypto adoption than a decade of retail speculation. It turns digital assets from an investment into an infrastructure.

Of course, watching a traditional bank and an airline try to out-innovate the crypto-native space is its own kind of entertainment—like watching your grandparents discover memes. But if they pull it off, they won't just be creating a new payment rail; they'll be proving that the real utility of blockchain isn't in decentralized dreams, but in solving the boring, expensive problems of global business. Sometimes the future of finance looks less like a trading chart and more like a boarding pass.

Ringgit Stablecoin Interest Grows in Malaysia

Capital A reported that the cooperation is also in line with the national ambitions of Malaysia. The group says that Stablecoin infrastructure readies the blistering transactions and smoother capital flows. It is also the first venture of Capital A into regulated development of digital assets.

There has been an increment in interest in ringgit-backed Stablecoin projects in Malaysia. Several high-profile initiatives have operated recently. These developments are indicative of increased trust in tokenized money issued under regulatory oversight.

BNM has been enhancing its digital asset agenda concomitantly. Last month, the central bank launched a three-year roadmap to test asset tokenization in live settings. The roadmap will focus on legal, technical, and operational preparedness prior to increased adoption.

BNM also declared the development of an Asset Tokenization Industry Working Group. The group includes banks, fintech companies, and regulators. The group aims to promote development and identify regulatory gaps.

Since the beginning of 2025, Malaysia has been reconsidering its digital asset position. As the trading activity was increasing, government authorities started to consider a national crypto policy. The revaluation indicates rising institutionalization and maturity.

Crown Prince Launches Ringgit Stablecoin on Zetrix

This occurred earlier this week when the Crown Prince of Malaysia ventured into the digital asset arena. The launch of RMJDT was announced by Bullish Aim Sdn. Bhd., which is owned and headed by His Royal Highness Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor. Zetrix issues a stablecoin based on the ringgit.

Zetrix is a layer-1 blockchain that hosts the Malaysia blockchain infrastructure. A huge crypto-treasury plan is also part of the initiative. The launch provided a boost to the debate on the regulated issuance of Stablecoins in the country.

The regulators are also updating market rules. The Securities Commission Malaysia has unveiled its plans for digital asset exchanges. In 2024, the volume of crypto trading hit a new high of RM13.9 billion ($2.9 billion) compared to the last year.

The consultation paper will be open between 30 June and 11 August, 2025. Reform proposals are made to speed up token listing and bolster governance. Listing of eligible tokens could be done without authorization as long as the token satisfies predefined requirements.

The suggested framework confers a greater responsibility to exchange operators. The measures are segregation of client assets, better risk management, and increased financial thresholds. The goal of the regulator is to increase investor confidence and resilience.

Although the development is rapid, authorities remain very cautious. Malaysia has no law that makes cryptocurrencies legal tender. Although Stablecoin pilots continue with close regulations, regulators have been more aggressive on unlicensed platforms like Bybit and Huobi.