Malaysia’s crown prince launches ringgit stablecoin, Zetrix treasury
Malaysia’s crown prince launched a stablecoin on Zetrix and a $121 million digital asset treasury modeled after MicroStrategy, despite sector bubble fears.
The eldest son of Malaysia’s billionaire king is launching a stablecoin pegged to the national currency, targeting payments across the Asia-Pacific region.
Bullish Aim, a telecom company owned by Ismail Ibrahim, the son of Sultan Ibrahim Iskandar of the Johor royal family, on Tuesday announced the launch of RMJDT, a new stablecoin backed by the Malaysian ringgit, the country’s fiat currency.
The stablecoin is set to be issued on Zetrix, a layer-1 blockchain designed to connect governments, businesses and individuals to the Web3 economy with a focus on cross-border integration, particularly in China.
