Johor Crown Prince Launches Ringgit-Backed RMJDT Stablecoin on Zetrix Blockchain
According to an official statement, RMJDT, backed by ringgit deposits and government bonds, aims to boost Asia-Pacific cross-border trade and foreign investment with an initial 500 million token supply.
Bullish Aim Sdn, owned by Johor Crown Prince Ismail Ibrahim, has officially launched the RMJDT ringgit-backed stablecoin on the Zetrix blockchain. The token is pegged to the Malaysian ringgit and supported by ringgit cash deposits and short-term local government bonds. RMJDT will have an initial supply of 500 million tokens (around $121.5 million) and is intended to enhance cross-border trade and attract foreign investment across the Asia-Pacific region. The Asia-Pacific stablecoin market is experiencing rapid growth, with 56% of institutions in the region already utilizing stablecoins for payments, settlements, and treasury purposes.
- Stablecoin: A cryptocurrency pegged to a stable asset such as fiat currency or commodities to maintain a steady value.
- Zetrix blockchain: A blockchain network designed for enterprise and government applications, used for issuing digital assets like RMJDT.