In the depths of the financial abyss, where the shadows of greed and ambition intertwine, Capital A, the mastermind behind the aerial behemoth AirAsia, and Standard Chartered Bank Malaysia, a pillar of the establishment, have forged a pact. A ringgit-backed stablecoin, they say? Ah, the folly of man! Announced on the fateful day of December 12, this endeavor shall unfold under the watchful eye of Bank Negara Malaysia, the digital asset innovation hub’s über-guardian.
Standard Chartered Malaysia, with its cold, calculating precision, shall create, test, and unleash this stablecoin upon the world. And Capital A? They shall dabble in the “real world wholesale use cases,” whatever that may mean in this theater of the absurd. 🤡
The future of finance goes digital with Capital A 🤝 Standard Chartered Malaysia
– AirAsia (@airasia) December 12, 2025
Tony Fernandes, the CEO of Capital A, proclaims this union as a step toward a “broad tech-driven ecosystem.” Ah, Tony, always the visionary, dipping his toes into the crypto waters for the first time. One wonders if he’ll sink or swim in this sea of volatility. 🌊
But lo! They are not alone in this quest. A Malaysian royal, with a flourish of grandeur, has also birthed a ringgit-backed stablecoin, aiming to modernize payments. The crypto community, ever hungry for drama, watches with bated breath. 🧐
The Malaysian government, in its infinite wisdom, supports clearer crypto rules. Prime Minister Anwar Ibrahim, the orchestrator of this symphony, encourages cooperation between the Securities agency and the central bank. Ah, bureaucracy-the true stablecoin of governance. 📜
Standard Chartered’s Crypto Odyssey Continues
On the same day, Standard Chartered revealed an expanded partnership with Coinbase, the crypto titan. Together, they shall explore trading, prime services, custody, staking, and lending. A match made in financial heaven, or perhaps, a Faustian bargain? 😈
This builds upon their existing alliance in Singapore, where Standard Chartered facilitates real-time SGD transfers for Coinbase users. Ah, the convenience of modern banking-a double-edged sword indeed. ⚔️
The UK’s Stablecoin Saga: A Tale of Woe
Meanwhile, in the foggy realms of the UK, chaos reigns. A cross-party group of lawmakers pleads with Chancellor Rachel Reeves to thwart the Bank of England’s draconian proposals. Temporary caps on stablecoin holdings? £20,000 for individuals and £10 million for companies? And 40% of reserves as unpaid deposits? Preposterous! The UK, once a financial titan, now lags behind the likes of the US, where even Donald Trump has embraced stablecoin rules. 🦅
Yet, banks and fintech firms persist in their crypto infatuation. The global stablecoin market cap stands at a staggering $317.7 billion. Will this be the dawn of a new era, or merely another chapter in humanity’s endless quest for financial domination? Only time will tell. ⌛
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2025-12-12 16:03