Standard Chartered Partners with AirAsia Founder over Stablecoin

Key Notes

Capital A and Standard Chartered Malaysia plan a ringgit-backed stablecoin.

The project will run in a central bank supervised innovation hub.

UK lawmakers push back on Bank of England rules as global stablecoin demand grows.

Capital A, the operator behind AirAsia, and Standard Chartered Bank Malaysia signed a letter of intent to launch a ringgit-backed stablecoin. The plan, announced on December 12, will be carried out through a digital asset innovation hub supervised by Bank Negara Malaysia.

According to the announcement , Standard Chartered Malaysia would create, test, and issue the stablecoin. Capital A is expected to test real world wholesale use cases for the token.

The future of finance goes digital with Capital A 🤝 Standard Chartered Malaysia https://t.co/1kAliG4