"RMJDT is being pitched as a ringgit-pegged token tied to Johor's Crown Prince. It was launched by his company, Bullish Aim, and issued on Zetrix, a network connected to Malaysia's national blockchain infrastructure. The token is intended for payments and cross-border trade settlement, with the project also announcing a 500 million Malaysian ringgit ($121 million) Zetrix-token treasury to support the network's day-to-day operations."
"What is said to distinguish RMJDT is its structure. According to project disclosures and reporting, RMJDT is expected to be backed by ringgit cash and short-term Malaysian government bonds, a conservative reserve model that regulators and larger financial institutions tend to prefer because it is easier to explain and, in theory, easier to redeem. The other half of the picture is a new Digital Asset Treasury Company (DATCO), funded with 500 million ringgit worth of Zetrix tokens, with plans to expand"
RMJDT is a ringgit-pegged stablecoin issued by Bullish Aim and launched on the Zetrix blockchain, aimed at payments and cross-border trade. The token intends to be backed by ringgit cash and short-term Malaysian government bonds, offering a conservative reserve model for easier redemption. A Digital Asset Treasury Company (DATCO) will manage a 500 million ringgit Zetrix-token treasury to support network operations and settlement. The setup includes a treasury and validator arrangement to enable reliable on-chain settlement. Regional trends show regulators across Asia moving toward licensing, reserve and redemption rules for stablecoins and demand for local-currency tokenized settlement.
Read at Cointelegraph
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