Capital A Berhad and Standard Chartered Bank Malaysia announced on Dec. 12 that they signed a letter of intent to jointly develop and test a ringgit-denominated stablecoin in Bank Negara Malaysia’s Digital Asset Innovation Hub, according to their official statement.
The initiative marks Capital A’s first major move into regulated digital assets, pairing its multi-industry ecosystem with Standard Chartered’s institutional-grade infrastructure. Under the sandbox, the bank would issue the MYR stablecoin while Capital A pilots wholesale use cases such as real-time settlements, improved treasury management and programmable payment flows, with the project framed as a way to strengthen domestic liquidity, enhance operational efficiency and enable next-generation financial services.
Both firms said they will now assess technical, regulatory and commercial requirements within the hub to help shape an appropriate long term framework for local-currency digital assets. Market participants will be watching whether the sandbox work evolves into a full-scale MYR stablecoin that can be deployed across Capital A’s travel and digital platforms and potentially extended to regional partners as Malaysia experiments with its next phase of financial infrastructure.
Source: Capital A Berhad (AirAsia Newsroom).
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