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Stablecoin Potential: Capital A Joins Forces with Standard Chartered to Explore Ringgit-Backed Innovations

Capital A has announced a partnership with Standard Chartered Bank Malaysia to explore the development of a ringgit-denominated stablecoin.

This initiative will take place within Bank Negara Malaysia’s Digital Asset Innovation Hub (DAIH), promoting collaboration in digital asset innovations.

The agreement represents Capital A's first venture into regulated digital assets, leveraging Standard Chartered’s financial infrastructure.

The primary focus will be on creating practical applications for the stablecoin, including real-time settlements and improved treasury management.

Standard Chartered Malaysia will oversee the design, testing, and rollout of the ringgit-backed stablecoin.

Capital A's CEO, Tony Fernandes, emphasizes this as a pivotal moment in their transformation beyond aviation into a tech-driven ecosystem.

Mak Joon Nien, CEO of Standard Chartered Malaysia, highlights the bank's commitment to emerging financial technologies and digital assets.

The stablecoin initiative aims to bolster domestic liquidity, enhance operational efficiency, and pave the way for next-gen financial services.

Both organizations are set to conduct technical, regulatory, and commercial assessments before proceeding to a pilot phase.

This collaboration aims to enhance digital experiences across Capital A's ecosystem while solidifying Standard Chartered's role in the evolving digital asset landscape.