- Capital A and Standard Chartered team up for Ringgit stablecoin.
- Project runs within Malaysia’s regulatory sandbox.
- Aims to enhance digital payments and financial inclusion.
Capital A, the parent company of AirAsia, and Standard Chartered are collaborating on a bold new financial innovation: a Ringgit-backed stablecoin. This digital asset project is currently being tested under Bank Negara Malaysia’s regulatory sandbox, which allows companies to trial fintech solutions under regulatory supervision.
The stablecoin would be pegged 1:1 to the Malaysian Ringgit (MYR), offering users a stable digital currency for transactions and cross-border payments. It represents a major step forward in merging traditional finance with blockchain technology, particularly within Southeast Asia’s rapidly evolving digital economy.
Why a Ringgit-Backed Stablecoin Is a Big Deal
Unlike volatile cryptocurrencies, a Ringgit-backed stablecoin provides the stability of fiat with the efficiency of blockchain. The proposed stablecoin could be used within AirAsia’s ecosystem—such as flights, food delivery, and ride-hailing—and potentially expand into other sectors via Standard Chartered’s financial networks.
This development aims to improve financial inclusion by offering secure and low-cost transactions, especially for unbanked and underbanked communities. It could also help facilitate faster remittances and seamless cross-border trade across ASEAN nations.
Such a stablecoin, if approved for public use, would be a significant milestone for Malaysia’s fintech industry, encouraging innovation while staying aligned with regulatory goals.
A Regulated Approach to Web3 Innovation
The decision to operate within Malaysia’s regulatory sandbox adds a layer of trust and accountability to the project. It signals strong cooperation between fintech innovators and national regulators to ensure compliance, user safety, and systemic stability.
Both Capital A and Standard Chartered are positioning themselves at the forefront of blockchain adoption in Asia. If successful, this project could inspire similar models in other countries and strengthen Malaysia’s status as a regional fintech leader.
As digital currencies gain mainstream attention, this initiative could pave the way for broader adoption of stablecoins in everyday financial services—right from your next AirAsia flight to your morning coffee.
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