Capital A and Standard Chartered Explore MYR Stablecoin
Capital A Berhad and Standard Chartered Bank Malaysia Berhad have signed a Letter of Intent to jointly explore the development and testing of a Ringgit-denominated stablecoin through Bank Negara Malaysia’s Digital Asset Innovation Hub. The announcement was made on December 12 in Kuala Lumpur, marking a significant step in Malaysia’s digital asset innovation landscape.
The initiative represents Capital A’s first major entry into regulated digital assets and will focus on wholesale digital asset use cases. Standard Chartered Malaysia will serve as the issuer of the MYR stablecoin, responsible for conceptualising, testing and delivering the innovation. Capital A and its ecosystem will jointly develop, test and potentially pilot real-world wholesale applications. The collaboration aims to leverage Standard Chartered’s institutional-grade infrastructure and financial expertise alongside Capital A’s extensive ecosystem of companies.
The MYR stablecoin initiative supports Malaysia’s aspirations to pursue responsible innovation in digital assets. Local-currency digital assets have the potential to strengthen domestic liquidity, enhance operational efficiency and enable next-generation financial services. Bank Negara Malaysia’s Digital Asset Innovation Hub provides a platform for the central bank and industry participants to co-create and test innovative solutions, informing the responsible development of digital asset technologies.
Capital A, transforming from an aviation-centric group into a technology-led ecosystem, sees the stablecoin as having practical applications across its operations. Potential use cases include real-time settlements, improved treasury management and programmable payment flows. As a multi-platform travel and digital group, Capital A aims to bring high-impact use cases at scale to Malaysians and the broader Asean region.
Standard Chartered Malaysia, with 150 years of history as the oldest operating bank in Malaysia, views digital assets as a core part of its strategy. The bank aims to extend its expertise into the digital asset ecosystem and support digital asset-linked products for institutional corporate clients. Both companies will now undertake further assessment of technical, regulatory and commercial considerations under Bank Negara Malaysia’s Digital Asset Innovation Hub framework.
