KUALA LUMPUR (Dec 9): Johor Regent Tunku Ismail Sultan Ibrahim on Tuesday announced the launch of  RMJDT, a ringgit-backed stablecoin issued on Zetrix AI Bhd’s (KL:ZETRIX) layer-1 blockchain, which forms the backbone of the Malaysia Blockchain Infrastructure (MBI).

Tunku Ismail's wholly-owned company Bullish Aim Sdn Bhd is rolling out RMJDT under a regulated sandbox framework, said Zetrix in a statement.

It said the stablecoin seeks to boost the international use of the ringgit in cross-border trade settlements and attract greater foreign direct investment into Malaysia. The initiative is also aligned with global tokenisation trends and directly supports Malaysia’s Digital Asset National Policy.

According to Zetrix, Bullish Aim will also establish a digital asset treasury company (Datco) with an initial allocation of RM500 million in Zetrix tokens, which may later be raised to RM1 billion. Modelled after global precedents such as MicroStrategy and Bitmine Immersion, the treasury is intended to stabilise network gas fees for RMJDT transactions.

Datco will additionally stake Zetrix tokens to support up to 10% of validator nodes within the MBI, bolstering long-term Web3 resilience and enhancing the security and efficiency of the ecosystem.

“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,” said Tunku Ismail.

“These dual initiatives reflect Johor’s commitment to advancing digital innovation at the intersection of blockchain technology, trade infrastructure and national economic development, while operating within Malaysia’s approved sandbox environment to ensure compliance, transparency and national oversight,” he added.

A Bloomberg report, citing sources, said the stablecoin will be backed by ringgit cash deposits and short-term Malaysian government securities. Bullish Aim’s managing director Lion Peh was quoted as saying the company envisions the token becoming the standard for crypto-based payments in Malaysia, enabling businesses, consumers and innovators to transact in a faster, safer and more efficient manner.

In April, Prime Minister Datuk Seri Anwar Ibrahim emphasised Malaysia’s push to accelerate blockchain and digital asset adoption as he welcomed continued engagement with agencies such as the Securities Commission, Bank Negara Malaysia (BNM) and the Digital Ministry to "explore ways to facilitate and promote responsible innovation" in the sector.

In October, BNM released a discussion paper detailing its proposed approach to exploring asset tokenisation in the Malaysian financial system, aiming to gather feedback that will shape the central bank’s regulatory and developmental framework for tokenised financial services.

Shares of Zetrix rose half a sen or 0.63% to close at 80.5 sen on Tuesday, valuing the group at RM6.29 billion.