RMJDT: What Malaysia’s First Ringgit-Backed Stablecoin Means?

Malaysia has taken a major step into digital finance with the launch of RMJDT, a stablecoin backed by the Malaysian ringgit and built on the Zetrix blockchain. The project is led by Bullish Aim Sdn Bhd, chaired by His Royal Highness Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor. It aims to modernise how trade is settled and to strengthen the ringgits use in international markets.

RMJDT has been introduced through a regulated sandbox, allowing the authorities to observe how the stablecoin functions while ensuring proper oversight. Its main goal is to improve the speed and transparency of cross-border transactions. By doing so, it could help the ringgit gain a stronger role in global trade. The initiative also supports Malaysias Digital Asset National Policy, which encourages the safe growth of digital assets in the country.

The launch comes at a time when many countries are exploring tokenised currencies and blockchain-based financial systems. By backing RMJDT with the national currency, Malaysia is positioning itself to benefit from these global trends. Officials hope the stablecoin will make Malaysia more attractive to foreign investors who are looking for reliable digital assets.

Alongside the stablecoin, Bullish Aim is setting up a Digital Asset Treasury Company (DATCO). The treasury will start with RM500 million worth of Zetrix tokens, with plans to increase this amount to RM1 billion. This reserve is meant to help keep network fees stable for RMJDT users and support up to 10% of the validator nodes that form part of the Malaysia Blockchain Infrastructure. The strategy mirrors approaches taken by international firms such as MicroStrategy and Bitmine Immersion, which hold large digital asset reserves to support their operations.

Tunku Ismail explained that building a treasury of Zetrix tokens is necessary to ensure stable operations and to stay aligned with the national blockchain system. He also stressed that the stablecoin and the treasury both show Johor‘s intention to promote digital innovation and support Malaysia’s wider plans for digital asset development.

Zetrix, the blockchain used for RMJDT, is developed by Zetrix AI Berhad, previously known as MY EG Services Bhd. It is a public layer-1 chain designed for privacy, security and scalability. The network also connects to blockchain systems in China, enabling important global trade functions such as digital identifiers and verifiable credentials. This cross-border capability is expected to play an important role in how RMJDT is used internationally.

The combined launch of RMJDT and DATCO represents a notable moment for Malaysias blockchain landscape. If the system works as intended, it could make international settlements smoother, increase trust in ringgit-backed digital assets and draw more investment into the country. It also positions Malaysia as an active player in the shift towards tokenised financial systems.

While the long-term results are still unknown, one thing is clear: Malaysia is aiming not only to keep pace with digital finance, but to help shape its future.