ChainCatcher news, according to official sources, Standard Chartered Bank (Hong Kong) Limited "SCBHK", Animoca Brands, and Hong Kong Telecommunications have signed an agreement to jointly establish a joint venture, planning to apply for a license under the new regulatory framework of the Hong Kong Monetary Authority to issue a Hong Kong dollar-backed stablecoin.

ChainCatcher news, according to Hong Kong Economic Journal, Hong Kong Telecommunications (HKT) has launched a blockchain-based marketing and rewards platform called Go Wallet, aimed at supporting the retail industry in Hong Kong. Go Wallet utilizes Web3 technology and is built on a public blockchain network, allowing consumers to share electronic coupons and more with community users through social applications like WhatsApp.

ChainCatcher news, according to official sources, global digital financial technology company Circle announced that it has signed a Memorandum of Understanding (MOU) with technology, media, and telecommunications company HKT (Hong Kong Telecommunications) to explore potential collaboration in developing blockchain-based customer loyalty solutions for merchants in Hong Kong.The two companies aim to leverage Circle's expertise in Web3 services and HKT's extensive merchant ecosystem and customer engagement capabilities to develop customer loyalty solutions powered by Web3 technology, enhancing the ways consumers discover and interact with merchants, and promoting a more social and dynamic engagement experience.

ChainCatcher news, Animoca Brands announced that it has partnered with Standard Chartered Bank (Hong Kong) and Hong Kong Telecom to participate in the stablecoin issuer sandbox launched by the Hong Kong Monetary Authority in March this year.Animoca Brands stated: Hong Kong Telecom will explore how the innovation of stablecoins can support local and cross-border payments through the sandbox, bringing greater benefits to consumers and merchants; Standard Chartered Bank (Hong Kong) will actively participate in the stablecoin issuer sandbox to discuss how to support the thriving development of Hong Kong's digital asset ecosystem in the most effective way, and to gain insights into the opportunities and risks brought by the evolution of the stablecoin market for this ecosystem; while Animoca Brands is committed to promoting the widespread application of digital assets and applying blockchain-related technological solutions to physical assets and the traditional economy.

ChainCatcher news, according to The Block, Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and Hong Kong Telecommunications Limited (HKT) announced their participation in the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox program. This collaboration will leverage Zodia Custody's digital asset custody capabilities to explore the role of stablecoins in the financial and payment markets, supporting Hong Kong's goal to become a global digital asset hub.Previous news, the HKMA announced the list of participants in the stablecoin issuer sandbox.