Bank Negara Malaysia has launched three pilot initiatives to test ringgit-denominated stablecoins and tokenized deposits, ahead of a planned 2026 rollout.
Standard Chartered Malaysia and Capital A, parent of AirAsia, will issue and pilot a ringgit-pegged stablecoin focused on wholesale use cases, aiming to test tokenised fiat for institutional settlement and liquidity management.
The eldest son of Malaysia’s billionaire king plans to launch a stablecoin pegged to the Malaysian ringgit, signaling a push for local fiat-backed digital assets in the Asia‑Pacific. The announcement could boost ringgit use in crypto payments while drawing regulatory scrutiny.