Johor Regent launches ringgit stablecoin

JOHOR BARU: Bullish Aim Sdn Bhd, chaired and owned by Johor Regent Tunku Ismail Sultan Ibrahim, has launched RMJDT, a ringgit-backed stablecoin issued on Zetrix, the core Layer-1 blockchain underpinning Malaysia’s national Malaysia Blockchain Infrastructure.

Launched under a regulated sandbox framework, Zetrix AI Bhd said in a Bursa Malaysia filing that the RMJDT is designed to strengthen the international use of the ringgit in cross-border trade settlements and to act as a catalyst for attracting increased foreign direct investment into Malaysia.

In conjunction with the RMJDT rollout, Bullish Aim will also establish a Digital Asset Treasury Company with an initial treasury allocation of RM500mil in Zetrix tokens, with plans to increase to RM1bil.