Malaysia Launches RMJDT, Ringgit-Backed Stablecoin to Boost APAC Trade and Investment
On December 9, 2025, Malaysia's king's eldest son unveiled RMJDT, a ringgit-backed stablecoin designed to facilitate cross-border trade and investment within the Asia-Pacific (APAC) region.
The token is issued by Bullish Aim Sdn Bhd, led by chair and owner Ismail Ibni Sultan Ibrahim, and its rollout is supported by Zetrix technology. RMJDT has an initial supply of 500 million tokens, valued at approximately $121.5 million, pegged to the Malaysian ringgit.
The stablecoin is backed by ringgit cash deposits and short-term local government bonds. A Zetrix-token treasury underpins the RMJDT launch, with ceremony participants including TS Wong, Zetrix co-founder, and Dato’ Lion Peh, managing director of Bullish Aim, witnessed by Ismail Ibni Sultan Ibrahim.
APAC is the fastest-growing stablecoin market, with around 56% of institutions in the region utilizing stablecoins for payments, settlements, and treasury management. Hong Kong is noted as a leader in Asia for stablecoin regulation following regulatory updates in July 2025.
Circle reported $2.4 trillion in on-chain stablecoin activity in APAC between June 2024 and June 2025, highlighting the region's rapid growth in this sector. This initiative aims to enhance cross-border trade and attract foreign investment within the Asia-Pacific market.
