Citing HashNews, AirAsia's operator and Standard Chartered Bank Malaysia have signed an agreement to explore the issuance of a ringgit-backed stablecoin in Malaysia. According to a statement released on Friday, Capital A, founded by AirAsia's Tony Fernandes, and Standard Chartered Bank Malaysia have signed a letter of intent to jointly develop and test the stablecoin through Malaysia's central bank-regulated digital asset innovation center. The bank will act as the issuer, while Capital A will lead pilot wholesale use cases in real-world scenarios, marking its first foray into regulated digital assets.
AirAsia and Standard Chartered to Explore Ringgit-Backed Stablecoin in Malaysia
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Summary
AirAsia’s operator and Standard Chartered Bank Malaysia have signed a letter of intent to explore a ringgit-backed stablecoin under stablecoin regulation. The project, led by Capital A and the bank, will test the asset via Malaysia’s central bank-regulated innovation center. Standard Chartered will issue the token, while Capital A will run real-world wholesale pilots. The move could impact liquidity and crypto markets in the region.
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