Capital A and Standard Chartered Bank Malaysia today announced a collaboration to research the development and testing of a digital money (stablecoin) pegged to the Malaysian Ringgit. This move is expected to be carried out through the DAIH (Digital Asset Innovation Hub) under Bank Negara Malaysia.
Under the collaboration of the two parties, Standard Chartered Malaysia is seen to develop a digital money pegged to the Ringgit and test and develop the innovation, while Capital A will co-develop and test it in real-world daily life use.
This move also explores the development of a new generation of financial services by both parties.
For now, both parties have just announced their collaboration and intention to explore joint development. Let's look forward to further developments by both parties in the development of this digital money pegged to the Ringgit.