AirAsia's operator has signed an agreement with Standard Chartered Bank Malaysia to explore issuing a ringgit-backed stablecoin in the Southeast Asian country. This comes days after a member of the Malaysian royal family announced a similar token. According to a statement released Friday, Capital A, founded by AirAsia founder Tony Fernandes, signed a letter of intent with Standard Chartered Bank Malaysia to jointly develop and test the stablecoin through the Digital Asset Innovation Centre regulated by Bank Negara Malaysia. The statement indicates that Standard Chartered Bank Malaysia will act as the issuer of the stablecoin, while Capital A may initially pilot wholesale use cases in real-world scenarios. This marks Capital A's first foray into the regulated digital asset space. (Bloomberg)