AirAsia partners with Standard Chartered Malaysia to launch Ringgit stablecoin testing program

AirAsia( Founder Fernandes )Tony Fernandes('s investment holding company Capital A, together with Standard Chartered Bank Malaysia Bhd., recently signed a letter of intent to collaborate on a Ringgit )Ringgit( stablecoin testing project. This cooperation was publicly announced shortly after a member of the Malaysian royal family recently revealed plans to launch a similar stablecoin project.

Capital A and Standard Chartered Malaysia Sign Stablecoin Cooperation Intent

Currently, Capital A and Standard Chartered Malaysia have officially signed a letter of intent to develop and test a stablecoin based on the Malaysian currency “Ringgit” within the digital asset innovation center supervised by Bank Negara Malaysia.

This testing program will be conducted under an official regulatory framework, part of Malaysia’s central bank-led financial innovation sandbox system.

Roles and Responsibilities, Standard Chartered as Issuer, Capital A as Testing Partner

According to the statement, Standard Chartered Malaysia will act as the issuer of the Ringgit stablecoin, responsible for related financial and compliance infrastructure. Capital A will have the opportunity to assist in practical testing of stablecoin applications in non-retail, enterprise, or institutional contexts.

Founder Personally States, Stablecoin Cooperation Marks a Key Transition for Capital A

Capital A founder and AirAsia founder Fernandes stated in the announcement that this collaboration “symbolizes a significant milestone in the group’s transformation from an airline-centric business to a trusted, technology-led ecosystem.”

The statement focused on the company’s long-term transformation direction and did not specify future business models or practical application scales for the Ringgit stablecoin.

The statement also mentioned that Capital A is currently undergoing a group restructuring, planning to sell its airline operations under AirAsia to sister company AirAsia X Bhd. After the restructuring, Capital A will officially transform into a “non-aviation holding company,” with future operations no longer centered on the airline business.

Malaysian Royalty Sparks Market Attention, Discussion of Ringgit Stablecoin Intensifies

The timing of this cooperation announcement coincides with increased discussions in the Malaysian market regarding “Ringgit stablecoins.” Just a few days ago, a member of the Malaysian royal family publicly announced plans to launch another Ringgit-based stablecoin project, reigniting market interest in the topic.

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This article about AirAsia partnering with Standard Chartered Malaysia to launch a Ringgit stablecoin testing project first appeared on Chain News ABMedia.