BLOX, a Malaysian digital asset infrastructure company, has completed a $1 million seed round led by Kivo Technology to expand MYRC, its fiat-backed stablecoin pegged 1:1 to the Malaysian ringgit. The company said the funding will be used to scale MYRC, develop products for enterprises and institutions, strengthen compliance and regulatory engagement, and support regional expansion. BLOX said MYRC's cumulative transaction volume grew more than 33-fold over the past 12 months, and the token has previously been showcased in a domestic blockchain payment proof-of-concept in Malaysia. The company is building on-chain settlement infrastructure for payments and cross-border use cases while operating in Malaysia without a clear regulatory framework for such activity and continuing discussions with regulators.