Malaysia Launches RMJDT Stablecoin Amid Crypto Treasury Challenges and Regulatory Reforms
Malaysia's Crown Prince Tunku Ismail ibni Sultan Ibrahim has launched RMJDT, a ringgit-backed stablecoin on the Zetrix Layer-1 blockchain, through Bullish Aim Sdn. Bhd. The digital asset treasury company will initially hold 500 million ringgit (~$121 million) in Zetrix tokens, with plans to increase this to 1 billion ringgit.
The RMJDT stablecoin and its supporting treasury aim to strengthen the ringgit in cross-border settlements and bolster real-world asset tokenization and supply-chain finance. This initiative aligns with Malaysia's Digital Asset National Policy and takes place within the country's regulated sandbox environment overseen by the Securities Commission and Bank Negara Malaysia, designed to test stablecoins and programmable payment systems.
Zetrix's reserve is intended to ensure predictable operations, support up to 10% of validator nodes within Malaysia's national blockchain infrastructure, and stabilize gas fees for RMJDT transactions. The Zetrix token currently trades around $12.60, significantly lower than its peak above $20 approximately a year ago, according to CoinGecko.
In related developments, VCI Global announced plans in November 2025 to acquire $100 million worth of OOB tokens, the native asset of Oobit. This move could position Tether as the largest shareholder and facilitate integration of the token into AI/fintech platforms and a digital treasury division.
Meanwhile, corporate crypto treasuries are showing signs of fatigue. Data from DefiLlama reveal that November 2025 saw inflows of about $1.32 billion, marking the slowest month of the year. Though players like Strategy added nearly $1 billion in Bitcoin last week, they experienced an equity decline of over 35% during the past month.
Regulators are accelerating reforms to address these challenges, with the Securities Commission proposing an overhaul that would allow certain tokens to be listed without prior approval if specific criteria are met. These reforms also include tighter governance and risk controls to fortify the crypto asset environment in Malaysia.
