- RMJDT is a stablecoin backed by Malaysia’s ringgit
- It’s supported by cash reserves and government bonds
- Project led by the Crown Prince of Johor
Malaysia’s financial and crypto landscape is witnessing a historic development. The Crown Prince of Johor, who is also the eldest son of Malaysia’s King, is set to introduce a new stablecoin called RMJDT. This token will be pegged to the Malaysian ringgit (MYR) and backed by real assets—cash and government bonds.
This marks the first time a member of royalty is taking such an active role in the launch of a digital currency in Malaysia. According to Bloomberg, the RMJDT project reflects a bold move to merge traditional finance with emerging blockchain technology while maintaining full asset backing.
How Will RMJDT Work?
RMJDT stands for Ringgit Malaysia Johor Digital Token. The stablecoin will be issued on blockchain infrastructure but its value will be fully backed by the Malaysian ringgit, held in cash and short-term government bonds. This structure mirrors that of other asset-backed stablecoins globally, like USDC and USDT, but with a strong local twist.
The goal is to build trust in digital assets within Malaysia and potentially across Southeast Asia by anchoring the token in tangible, regulated financial instruments. By choosing a mix of cash and government bonds, the RMJDT aims to ensure liquidity, transparency, and stability.
Although the full details of the platform and issuance timeline haven’t been revealed, the move is already stirring interest among crypto enthusiasts and traditional investors alike.
What It Means for Malaysia’s Crypto Space
The launch of a ringgit-backed stablecoin spearheaded by royalty could serve as a pivotal moment in Malaysia’s blockchain journey. It sends a strong signal that digital assets are being recognized not just by startups and tech players, but by national leadership figures.
Additionally, it may encourage regulators to develop clearer frameworks around stablecoins, which can pave the way for more institutional adoption and innovation in the region.
With support from both government bonds and the royal family’s public endorsement, RMJDT could set a new standard for stablecoins in emerging markets.
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