Luno partners with asset managers for Ringgit stablecoin settlement framework
Digital asset exchange Luno Malaysia partnered with Halogen Capital and Kenanga Investors to evaluate Ringgit pegged stablecoin settlement mechanisms for tokenised investment funds
Malaysia's leading digital asset exchange, Luno, has announced a strategic collaboration with two asset managers, Halogen Capital and Kenanga Investors, to explore the use of a Ringgit-pegged stablecoin (UMYR) as an on-chain settlement instrument for tokenized money market funds. The initiative, announced at LIDAC 2026 in Kuala Lumpur, aims to demonstrate real-time Delivery-versus-Payment (DvP) settlement for fund subscriptions and redemptions, reducing the settlement windows that currently apply on conventional rails.
Luno will mint and burn UMYR on a strict 1:1 basis against Ringgit held in a segregated account with a regulated banking partner, while Halogen Capital and Kenanga Investors will participate as fund managers, accepting UMYR for subscription and redemption settlements.
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