Bullish Aim Sdn Bhd, an initiative associated with the Malaysian Crown Prince, has launched RMJDT, a stablecoin pegged to the Malaysian Ringgit. This stablecoin is designed to enhance the efficiency of cross-border payments within the Asia-Pacific region.
The introduction of RMJDT is expected to strengthen the global presence of the Malaysian Ringgit in cross-border transactions. This development has the potential to attract foreign direct investment into Malaysia's burgeoning digital economy.
RMJDT Launch Targets Ringgit's Global Trade Expansion
The launch of the RMJDT stablecoin on the Zetrix blockchain was spearheaded by Tunku Ismail, the Regent of Johor, through Bullish Aim. The initiative is further supported by a Digital Asset Treasury valued at 500 million Ringgit, which is held in Zetrix tokens.
By introducing RMJDT, the stablecoin aims to significantly bolster the international utilization of the Malaysian Ringgit in cross-border trade activities. This strategic move is in alignment with Malaysia's established Digital Asset National Policy.
“As the issuer of RMJDT, we view the establishment of a Zetrix‑token treasury as a strategic necessity – both to support operational stability and to deepen alignment with the national blockchain.”
— Tunku Ismail Ibni Sultan Ibrahim, Regent of Johor.
Strategic Implications of RMJDT and Zetrix
The launch strategy for RMJDT bears resemblance to approaches taken by entities like MicroStrategy with Bitcoin, indicating a growing acceptance of cryptocurrency-based treasuries within sovereign contexts.
Zetrix (ZETRIX) has experienced recent price fluctuations, with its current valuation at $12.71. It maintains a zero circulating supply, and its fully diluted market cap is reported at $26.83 billion, according to CoinMarketCap data.
Research from the Coincu team suggests that RMJDT has the potential to stimulate demand for Ringgit-backed assets in cross-border applications. This model of a digital asset treasury may provide enhanced regulatory resilience and facilitate smoother technical integration within Malaysia's digital infrastructure.