AirAsia's founder, Tony Fernandes, is collaborating with Standard Chartered Bank to explore the issuance of a stablecoin backed by the Malaysian ringgit. Capital A, the operator of AirAsia, has signed a letter of intent with Standard Chartered Bank Malaysia to develop and test this stablecoin through the Digital Asset Innovation Centre, regulated by Bank Negara Malaysia. Standard Chartered Bank Malaysia will serve as the issuer of the stablecoin, while Capital A plans to pilot wholesale use cases in real-world scenarios. This initiative marks Capital A's entry into the regulated digital asset sector, following a recent announcement by a Malaysian royal family member about a similar token launch.