Malaysia launches digital asset center to test innovative applications such as stablecoins

Malaysia announced the launch of the "Digital Asset Innovation Center" program. Led by the Malaysian central bank, the regulatory sandbox will allow testing of innovative applications such as ringgit stablecoins and programmable payments, aiming to promote the country to become a regional fintech center. Abdul Rasheed Ghaffour, governor of the Malaysian central bank, said the country is simultaneously upgrading the Rentas payment system, exploring cross-border payment interconnection and asset tokenization. (Cointelegraph)