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Malaysia Sees First Stablecoin RMJDT Rollout Backed By Ringgit Currency
Malaysia Sees First Stablecoin RMJDT Backed By Ringgit. Photo By Meriç Dagli On Unsplash.
Malaysia now has its own stablecoin as Bullish Aim announce the first Ringgit stablecoin.
The company has officially announced the release of RMJDT - a stablecoin backed by the local Ringgit currency. For now this will be restricted to the confines of the national digital sandbox, the first in a multi-step process to get the stablecoin rolled out publicly. RMJDT is expected to have government bonds for the reserves and will run on the Zetrix layer 1 blockchain.
Owner of Bullis Aim Rejent of Johor Tunku Ismail Idris has expressed:
"As the issuer of RMJDT, we view the establishment of a Zetrix-token treasury as a strategic necessity – both to support operational stability and to deepen alignment with the national blockchain".
The issuance of the RMJDT stablecoin will help the emergence of local and non-dollar fiat-backed stablecoins gain a greater share of the overall stablecoin market. At the same time as this development, the company will also look to adopt the latest Digital Asset Treasury trend of 2025 and gradually start buying up Zetrix tokens as part of their corporate treasury.
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