MYRC is Blox's ringgit stablecoin backed 1:1 by MYR-denominated reserves at Malaysian financial institutions and gated to verified Malaysian residents. The static profile records its Malaysian Ringgit peg mechanism as: 1:1 mint and redemption against Malaysian Ringgit via Malaysian banking rails (FPX). Eligibility requires Malaysian eKYC (MyKad) and a linked Malaysian bank account; mint authority on each chain is restricted to a Blox-controlled key.

As of Oct 28, 2026, Pharos grades MYRC B+ (77/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That grade is in the Score's upper band, which does not rule out losses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

Pharos records MYRC's reserves as of Aug 31, 2026 as 66.7% MYR cash at Malaysian banks and 33.3% Halogen Shariah MYR Liquid Fund. Reserve evidence: Independent Attestation by Tommy Ung & Partners PLT, latest period ending Aug 31, 2026. Pharos classifies the backing as Real-World Asset Backed.

Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.

Under the route Pharos reviewed on May 12, 2026, customers the issuer has verified can redeem MYRC for a single stable asset, such as cash or a stablecoin. Settlement takes multiple days. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.