The son of the King of Malaysia, Tunku Ismail, has launched the RMJDT stablecoin, pegged 1:1 to the Malaysian Ringgit. This coin is backed by cash MYR and short-term government bonds, so the goal is to be stable and safe.
RMJDT is issued on the Zetrix blockchain, a platform developed by Malaysia and currently used by the government in the national digital infrastructure. Bullish Aim, the company of Prince Tunku Ismail, wants RMJDT to become the crypto payment standard in Malaysia, facilitating transactions that are faster, cheaper, and safer. Recently, Malaysia has also become more open to crypto, with the Prime Minister's call supporting innovation in this sector.
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