According to Malay Mail, Malaysia's digital asset exchange Luno has announced a collaboration with Halogen Capital and Kenanga Investors to explore a stablecoin called UMYR, backed 1:1 by the Malaysian Ringgit. The stablecoin will be used for subscription and redemption settlements in tokenized money market funds and to test a real-time Delivery-versus-Payment (DvP) mechanism. This pilot is exclusively available to whitelisted institutional clients and not open to retail users. Founded in 2013, Luno is one of the first digital asset exchanges in Malaysia regulated by the Securities Commission. In 2020, it was fully acquired by Digital Currency Group (DCG), though the transaction amount was not disclosed. https://www.(wublock123.com)/news/luno-collaborates-with-halogen-and-kenanga-to-explore-the-pilot-of-stablecoin-umyr-in-malaysian-ringgit-68924