Capital A and Standard Chartered Malaysia have signed a letter of intent to explore the development and testing of a ringgit-denominated stablecoin under Bank Negara Malaysia’s Digital Asset Innovation Hub.
The initiative marks Capital A’s first step into regulated digital assets, bringing together Standard Chartered’s banking infrastructure with Capital A’s business ecosystem. The parties will study potential wholesale use cases for digital assets.
Under the proposed arrangement, Standard Chartered Malaysia would act as the issuer of the MYR stablecoin, leading its design, testing and deployment. Capital A and its group companies will focus on developing and piloting practical applications, including use cases for enterprise operations.
The collaboration supports Malaysia’s push for responsible digital asset innovation and highlights how local-currency stablecoins could enhance liquidity, improve efficiency and enable new financial services.
BNM’s Digital Asset Innovation Hub provides a controlled environment for regulators and industry players to test new ideas, with insights from the project expected to contribute to future policy and regulatory development.
Both parties will now evaluate the technical, regulatory and commercial requirements under the hub before deciding on the next steps.
