Catenaa, Thursday, December 18, 2025-AirAsia founder Tony Fernandes’s Capital A and Standard Chartered Bank Malaysia are exploring a ringgit-backed stablecoin, marking Capital A’s first move into regulated digital assets.
The two companies signed a letter of intent to develop and test the stablecoin through a digital-asset innovation hub supervised by Bank Negara Malaysia.
Standard Chartered Malaysia would issue the token, while Capital A could pilot real-world wholesale applications.
Fernandes described the initiative as a milestone in Capital A’s shift from an aviation-focused group toward a technology-led ecosystem.
The company is in the process of transferring its AirAsia aviation operations to AirAsia X Bhd, after which it will operate as a non-aviation holding entity.
The project follows recent developments in Malaysia’s digital currency space, including the announcement of a similar royal-backed token, reflecting growing interest in regulated digital assets across the region.
