Standard Chartered, AirAsia parent to test ringgit stablecoin in Malaysia

Standard Chartered Bank Malaysia and Capital A, the parent company of AirAsia, have signed a letter of intent to explore issuing and testing a stablecoin pegged to the Malaysian ringgit. This initiative will operate under Bank Negara Malaysia's (BNM) Digital Asset Innovation Hub. Standard Chartered Malaysia will act as the issuer, leveraging its infrastructure and expertise, while Capital A and its ecosystem will develop and pilot wholesale use cases for the stablecoin, deliberately avoiding the retail market. This effort aligns with Malaysia's broader national goal to modernize payments and capital markets using digital asset technology, following recent moves by the regulator, including a roadmap for asset tokenization.

(Source：Cointelegraph)