The eldest son of Malaysia’s billionaire king, Ismail Ibrahim, is launching a stablecoin called RMJDT pegged to the national currency, Malaysian ringgit. The stablecoin will be issued on Zetrix, a blockchain focused on cross-border integration. Bullish Aim will establish a digital asset treasury with an initial allocation of $121.5 million in ZETRIX tokens.

RMJDT is launched under Malaysia’s regulatory sandbox framework to test financial innovations like stablecoins. The sandbox, initiated in June, aims to explore digital asset use cases such as programmable payments and supply chain financing. The stablecoin is designed to strengthen the international use of the Malaysian ringgit.

Bullish Aim plans to increase its $121 million Zetrix DAT treasury to $243 million and model it after Michael Saylor’s MicroStrategy. Ismail views the DAT as a strategic necessity to deepen alignment with the national blockchain. The DAT sector faces challenges as companies with digital asset treasuries like Strategy deal with concerns over copycat strategies.

CoinShares head of research, James Butterfill, suggests that the DAT bubble may have already burst following a summer rally in 2025. Butterfill indicates that the market is re-evaluating companies that genuinely fit the DAT model. The future of DATs will depend on factors like disciplined treasury management and realistic expectations about digital assets on corporate balance sheets.

Read more at Cointelegraph: Malaysia Royal Launches Stablecoin And $121M DAT On Zetrix