Standard Chartered and Capital A to Launch Ringgit-Backed Stablecoin

Capital A and Standard Chartered Malaysia to Launch Ringgit-Backed Stablecoin

Capital A and Standard Chartered Bank Malaysia plan to launch a ringgit-backed stablecoin.
The initiative will be carried out through a digital asset innovation hub under Bank Negara Malaysia's supervision.
Standard Chartered will create, test, and issue the stablecoin, while Capital A will explore wholesale use cases.
This is Capital A’s first move into the crypto market, supporting its tech-driven ecosystem strategy.
The Malaysian government supports clearer crypto regulations, with Prime Minister Anwar Ibrahim advocating for a framework for asset tokenization and stablecoin infrastructure.

Standard Chartered and Coinbase Partnership Expansion

Standard Chartered has expanded its partnership with Coinbase for institutional clients.
Plans include exploring trading, prime services, custody, staking, and lending.
This builds on their existing cooperation in Singapore, facilitating real-time SGD transfers for Coinbase users.

UK Stablecoin Regulations Under Scrutiny

UK lawmakers urged blocking Bank of England's proposal to cap stablecoin holdings and require high reserve deposits.
The proposal includes caps of £20,000 for individuals and £10 million for companies, and a 40% reserve requirement.
Experts criticize the plan as too strict, noting the UK is trailing behind the US in stablecoin regulation.
The global stablecoin market cap stands at approximately $317.7 billion.