Guide
What is MYRT?The Malaysia Ringgit Stablecoin, explained
MYRT
XSGD
JPYC
IDRTERC-20The short answer
MYRT is the Malaysia Ringgit Stablecoin. It is minted and redeemed 1:1 for ringgit, and its reserve is held at a licensed Shariah-compliant fund. In YouApp, MYRT is the unit your wallet balance is shown in. When you scan a DuitNow QR, the merchant is paid in ringgit by licensed parties.
What is MYRT in plain words?
MYRT is the Malaysia Ringgit Stablecoin. It is a limited-purpose stablecoin used for payments, not a currency of its own. In YouApp it is the unit your wallet balance is shown in, so a balance of 250 MYRT reads as 250 ringgit.
It exists to solve one problem. A traveller arriving with stablecoins, and a local who already holds them, both need a way to pay a Malaysian merchant in ringgit. MYRT is that bridge. Merchants are always paid in ringgit by licensed parties, never in stablecoins.
What does 1:1 with the ringgit mean?
One MYRT is minted when one ringgit goes into the reserve, and it is redeemed the same way. That is the whole design. A ringgit stablecoin is not meant to move in value against the ringgit, and there is nothing here to trade.
YouApp does not quote exchange rates and is not a currency exchange counter. The amount you are about to pay is shown in ringgit on screen before you confirm.
Where is the MYRT reserve held?
The reserve backing MYRT is held at a licensed Shariah-compliant fund. YouApp is not a bank and not an e-money issuer, and YouApp does not issue MYRT.
Every payment, conversion and settlement runs through licensed parties. Conversion is powered by Sera, a non-custodial settlement protocol. The wallet itself is non-custodial and powered by Privy, a Stripe company.
Conversion powered by
(sera.cx), a non-custodial settlement protocol for stablecoins.
Non-custodial wallet powered by
(a Stripe company)
Every payment, conversion and settlement is provided by licensed parties. Your YouApp wallet is non-custodial: YouApp never holds or touches your YouApp wallet funds or stablecoins. MYRT is the Malaysia Ringgit Stablecoin, a limited-purpose stablecoin minted and redeemed 1:1 for ringgit, with its reserve held at a licensed Shariah-compliant fund.
How do I get MYRT?
You do not buy MYRT from YouApp. You top up your wallet, and your balance is then shown in MYRT. There are five routes in, and FPX is not one of them.
Blockchain top-ups are ERC-20 on Ethereum mainnet only. Funds sent on another network cannot be recovered, so check the network before every transfer.
| What you send | Network | What lands in your wallet |
|---|---|---|
| MYRT | Ethereum mainnet, ERC-20 | MYRT |
| XSGD, JPYC or IDRT | Ethereum mainnet, ERC-20 | MYRT |
| USD stablecoins | Ethereum mainnet, ERC-20 | MYRT |
| DuitNow transfer | Not a blockchain transfer | MYRT |
| Debit or credit card | Not a blockchain transfer, card processing as low as 2.5% | MYRT |
What can I spend MYRT on?
Scan any DuitNow QR in Malaysia and pay in ringgit. DuitNow QR is Malaysia's national QR standard, run by PayNet, and more than 3 million merchants accept it.
The same balance books experiences with verified local hosts. Booking payments are held until the session is completed, then released to the host in ringgit less a 30% host fee. Cashback in MYRT is available at partner merchants, hosts and activities only, and is funded by them.
Is MYRT an investment?
No. MYRT is a limited-purpose stablecoin for payments. It is not an investment, not a savings product and not a way to earn a return, and nothing on this page is financial advice.
MYRT exists so you can pay a merchant in ringgit. That is its only job.
Who holds my MYRT?
You do. The YouApp wallet is non-custodial and powered by Privy, a Stripe company, so YouApp never holds or touches your YouApp wallet funds or stablecoins.
Only verified users can hold a balance. Verification is MyKad, a passport or Singpass plus a selfie liveness check, under a minute, done once. Visitors from outside Malaysia can verify with a passport.
What should I watch out for?
Blockchain transfers are irreversible. Once a transfer is confirmed it cannot be reversed, and funds sent on another network cannot be recovered. Send ERC-20 stablecoins on Ethereum mainnet only.
Fees and limits are the other thing to know before you confirm anything. They are shown in the app every time, and they are listed here so there are no surprises.
Fees and limits
Shown before you confirm.
- YouApp fee, scan to pay
- as low as 1.7%
- Card processing
- as low as 2.5%
- Per transaction
- RM20,000
- Per year
- RM600,000
Questions about MYRT
- What is MYRT?
- MYRT is the Malaysia Ringgit Stablecoin. It is minted and redeemed 1:1 for ringgit, with the reserve held at a licensed Shariah-compliant fund. In YouApp it is the unit your wallet balance is shown in.
- Is MYRT the same thing as the ringgit?
- No. MYRT is a limited-purpose stablecoin that is minted and redeemed 1:1 for ringgit. Merchants are always paid in ringgit by licensed parties, never in stablecoins.
- Is MYRT an investment?
- No. MYRT is a limited-purpose stablecoin for payments. It is not an investment or a savings product, and YouApp is not a bank or an e-money issuer.
- How do I get MYRT?
- Top up your YouApp wallet with ERC-20 stablecoins on Ethereum mainnet, by DuitNow transfer, or with a debit or credit card. FPX is not supported. Your balance is then shown in MYRT.
- Which network does MYRT use?
- Ethereum mainnet, as an ERC-20 token. Blockchain transfers are irreversible and funds sent on another network cannot be recovered, so check the network before every transfer.
- Who holds my MYRT?
- You do. The YouApp wallet is non-custodial and powered by Privy, a Stripe company, so YouApp never holds or touches your YouApp wallet funds or stablecoins.
- What can I spend MYRT on?
- Scan any DuitNow QR in Malaysia and pay in ringgit, or book experiences with verified local hosts. Limits are RM20,000 per transaction and RM600,000 per year.
Read next
Where MYRT goes once it is in your wallet.
A balance that reads in ringgit.
Verify once, top up, and spend at more than 3 million DuitNow QR merchants in Malaysia.
