JOHOR BAHRU, Dec. 9 -- The Regent of Johor, Tunku Ismail Ibni Sultan Ibrahim, has announced the launch of RMJDT, a ringgit-backed stablecoin issued on Zetrix, Malaysia's national blockchain infrastructure.

The initiative, unveiled by Bullish Aim Sdn Bhd, which is chaired and owned by the Regent, is part of the country's regulated digital asset sandbox framework.

RMJDT is intended to strengthen the international use of the Malaysian Ringgit in cross-border trade settlements and attract greater foreign direct investment into Malaysia.

Alongside the stablecoin rollout, Bullish Aim will establish a Digital Asset Treasury Company (DATCO) with an initial allocation of RM500 million in Zetrix tokens, with plans to expand to RM1 billion. The t...