Standard Chartered Bank has teamed up with Animoca Brands and HKT to establish a joint venture aimed at issuing a Hong Kong dollar stablecoin
ChainCatcher news, according to official sources, Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications (HKT) have announced the establishment of a joint venture, planning to apply for a license from the Hong Kong Monetary Authority to issue a Hong Kong dollar stablecoin. The joint venture will combine Standard Chartered Bank's infrastructure and governance experience, Animoca Brands' Web3 ecosystem resources, and HKT's mobile payment technology.The three parties have participated in the Hong Kong Monetary Authority's regulatory sandbox program for stablecoin issuers since July 2024, committed to connecting Web3 with traditional finance through stablecoins, and consolidating Hong Kong's position as a global digital asset hub.