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TMJ launches ringgit-backed stablecoin for payments​

TMJ launches ringgit-backed stablecoin for payments​

45 mins ago

Bloomberg
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Bullish Aim Sdn Bhd, chaired and owned by Tunku Mahkota Johor, Tunku Ismail Sultan Ibrahim, has unveiled a ringgit-pegged stablecoin called RMJDT.​

Tunku Ismail Sultan Ibrahim is the regent of Johor, Malaysia’s southernmost state. (Bernama pic)
KUALA LUMPUR: The eldest son of Malaysia’s billionaire king is launching a ringgit-backed stablecoin in the latest example of crypto tokens designed for payments expanding across the Asia-Pacific region.
Bullish Aim Sdn Bhd, chaired and owned by Tunku Mahkota Johor, Tunku Ismail Sultan Ibrahim, the son of Sultan Ibrahim Sultan Iskandar of the Johor royal family, unveiled a stablecoin called RMJDT that’s pegged to the ringgit.

“It will be backed by local-currency cash deposits and short-term Malaysian government bonds,” people with knowledge of the matter said, asking not to be identified.

 

[syed putra]

A malay bitcoin at last. Progress!