Malaysia’s Crown Prince Enters the Stablecoin Market
The eldest son of Johor’s Sultan Ibrahim Iskandar, Crown Prince Ismail Ibrahim, is spearheading a new venture into digital finance with the launch of RMJDT, a ringgit-backed stablecoin. The project is driven by Bullish Aim, a telecom company owned by the Crown Prince, which announced the initiative this week targeting payment solutions across the Asia-Pacific region.
RMJDT will operate on Zetrix, a layer-1 blockchain engineered to connect governments, businesses, and individuals to the Web3 economy, with a particular focus on cross-border integration, including trade links with China.
Strategic Digital Asset Treasury to Support RMJDT
In addition to launching the stablecoin, Bullish Aim plans to establish a Digital Asset Treasury (DAT) company with an initial allocation of 500 million ringgit (~$121.5 million) in Zetrix (ZETRIX) tokens. This treasury is intended to provide operational stability for RMJDT while aligning with Malaysia’s national blockchain initiatives.
Crown Prince Ismail highlighted that the treasury acts as a strategic asset, noting:
“As the issuer of RMJDT, the establishment of a Zetrix-token treasury is essential both to support operational stability and to deepen alignment with the national blockchain.”
Bullish Aim has indicated plans to expand the DAT to $243 million, signaling ambitious long-term ambitions in Malaysia’s emerging digital finance landscape.
Also Read : Bolivia Breaks Tradition: Government Moves to Embrace Crypto and Stablecoins in Bold Economic Overhaul
RMJDT Operates Under Malaysia’s Regulatory Sandbox
The Securities Commission Malaysia and Bank Negara Malaysia have approved RMJDT under the country’s regulated sandbox framework, which allows financial innovations to be tested under controlled conditions. Launched in June, the sandbox explores the use of ringgit-backed stablecoins, programmable payments, and supply chain financing solutions.
According to Bullish Aim, RMJDT is designed to:
- Strengthen international adoption of the Malaysian ringgit in cross-border trade settlements
- Attract increased foreign direct investment into Malaysia
- Support Malaysia’s Digital Asset National Policy and global tokenization trends
The Digital Asset Treasury Landscape and Market Challenges
Bullish Aim’s approach to its Zetrix DAT follows the model of global pioneers like Michael Saylor’s MicroStrategy, which famously accumulated over 660,000 Bitcoin since 2020. However, the digital asset treasury market has faced headwinds, with some analysts suggesting the DAT bubble may have deflated following the 2025 summer rally.
James Butterfill, head of research at CoinShares, noted:
“As the DAT market re-evaluates, future success will rely on disciplined treasury management, credible business models, and realistic integration of digital assets into corporate balance sheets.”
Despite challenges, Crown Prince Ismail’s $2.7 billion Singapore land bid in August demonstrates that well-capitalized players remain confident in digital asset strategies.
RMJDT Poised to Transform Regional Payments
With RMJDT and its associated digital asset treasury, Malaysia is positioning itself at the forefront of Asia-Pacific stablecoin innovation. By combining regulatory compliance, blockchain integration, and treasury-backed stability, the Crown Prince’s initiative may set a benchmark for future national digital currencies and cross-border payment solutions.
Cointelegraph reached out to Bullish Aim for additional details on the RMJDT stablecoin and DAT plans but had not received a response at the time of publication.
