Malaysian royal launches ringgit-backed stablecoin for payments. Bullish Aim Sdn., chaired and owned by Ismail Ibrahim, the son of Sultan Ibrahim Iskandar of the Johor royal family, unveiled a stablecoin called RMJDT that’s pegged to the Malaysian ringgit. The stablecoin, with an initial supply of 500 million tokens, will be backed by local-currency cash deposits and short-term Malaysian government bonds, people with knowledge of the matter said, asking not to be identified.