Paul Johnson Malaysia’s Crown Prince introduces a ringgit stablecoin on Zetrix and a $121 million digital asset treasury inspired by MicroStrategy, signaling a new era for Malaysia’s Web3 and tokenized finance ambitions.
Malaysia Crown Prince Unveils Ringgit Stablecoin and Zetrix Treasury to Boost Digital Asset Growth
Malaysia is making its most significant leap yet into the Web3 economy. Crown Prince Ismail Ibrahim, the son of Sultan Ibrahim Iskandar of the Johor royal family, has officially launched a stablecoin backed by the national currency, the Malaysian ringgit, along with a $121 million digital asset treasury on Zetrix. The move positions Malaysia among the few nations where royalty is taking a direct hand in shaping blockchain infrastructure and digital finance.
The initiative, led by Ismail’s company Bullish Aim, introduces the RMJDT stablecoin on Zetrix, a layer 1 blockchain designed to bridge governments and enterprises with Web3 applications. The ringgit stablecoin aims to enable faster and more transparent cross-border transactions across Asia-Pacific, especially with China, which is already testing blockchain-based trade systems.
A Regulated Leap: Stablecoin Launch Under Malaysia’s Financial Sandbox
RMJDT enters Malaysia’s blockchain ecosystem under the country’s regulated sandbox framework, supervised by the Securities Commission and Bank Negara Malaysia. The sandbox, launched in June, serves as a testing ground for innovative fintech projects, including stablecoins and programmable payments.
By introducing the ringgit stablecoin through this framework, the Crown Prince ensures regulatory compliance while encouraging responsible innovation. The stablecoin’s core purpose is to enhance the international use of the ringgit in digital trade settlements, support Malaysia’s financial inclusion goals and attract foreign investment.
According to Bullish Aim’s announcement, the ringgit stablecoin aligns with Malaysia’s Digital Asset National Policy, a government initiative promoting tokenization, cross-border interoperability and blockchain adoption within public and private sectors. The project underscores Malaysia’s ambition to emerge as a regional hub for blockchain and decentralized finance, following in the footsteps of Singapore and Hong Kong.
Zetrix Treasury Modeled After MicroStrategy’s Bold Crypto Strategy
Beyond the ringgit stablecoin, Bullish Aim is also establishing a digital asset treasury (DAT) worth 500 million ringgit (around $121.5 million) in Zetrix tokens. The company plans to double this amount to 1 billion ringgit as part of its long-term blockchain strategy.
The concept draws clear inspiration from MicroStrategy’s Bitcoin accumulation model, where Michael Saylor’s firm famously built one of the world’s largest corporate crypto treasuries. However, instead of Bitcoin, Bullish Aim’s approach focuses on accumulating Zetrix tokens to reinforce its alignment with Malaysia’s national blockchain and ensure operational resilience.
Crown Prince Ismail emphasized that the treasury represents more than an investment—it’s a strategic reserve that strengthens the foundation of Malaysia’s blockchain ecosystem. By building a sizable treasury in local blockchain tokens, Bullish Aim aims to secure stability for RMJDT while fostering liquidity and long-term confidence in Zetrix’s ecosystem.
DAT Sector Faces Market Reality Check
The ringgit stablecoin and Zetrix treasury launch come amid growing skepticism around the sustainability of corporate digital asset treasuries. Following a surge in DAT enthusiasm earlier in 2025, market experts are now questioning whether the model can sustain its momentum.
CoinShares head of research James Butterfill recently commented that the DAT bubble might have already deflated, with investors now differentiating between companies with sound strategies and those chasing speculative gains. He noted that the future of corporate treasuries lies in disciplined management and real-world utility, not market hype.
Despite these warnings, Crown Prince Ismail’s move suggests a more calculated and nationally aligned approach. His vision is rooted in creating financial infrastructure rather than speculative profit, mirroring Malaysia’s broader push to blend traditional finance with blockchain-based systems.
Malaysia’s Royal Vision for Tokenized Finance
The ringgit stablecoin represents a symbolic and practical step toward digital currency adoption in Southeast Asia. Unlike private crypto projects operating outside government oversight, this initiative reflects a coordinated public-private approach, ensuring both regulatory clarity and technological innovation.
With RMJDT backed by fiat reserves and issued on a national blockchain, Malaysia could pave the way for a model where sovereign currencies coexist with programmable digital assets. The Crown Prince’s dual initiative combining a stablecoin with a digital asset treasury demonstrates how nations can anchor their economies in blockchain infrastructure while preserving monetary sovereignty.
As global institutions increasingly explore tokenization for real-world assets and trade finance, Malaysia’s royal-backed ringgit stablecoin offers a glimpse of what the next generation of financial systems might look like. It’s a blend of national pride, technological progress and strategic foresight, signaling that the country is ready to compete in the evolving world of decentralized economies.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
