Animoca Brands joins hands with Standard Chartered Bank and Hong Kong Telecom to issue Hong Kong dollar stablecoin

Well-known blockchain company Animoca Brands recently announced that it is cooperating with Standard Chartered Bank and Hong Kong Telecom to set up a joint venture company to launch a stablecoin pegged to the Hong Kong dollar.

In an exclusive interview with the media, the president of Animoca Brands said that the Hong Kong dollar stablecoin will be widely used in multiple scenarios including virtual asset transactions, cross-border trade settlement and financial services in the Web3 game ecosystem in the future, further opening up the digital asset circulation channels between the mainland and the international market. He pointed out that "with the increase in global acceptance of digital assets, the issuance of Hong Kong dollar stablecoins will not only enhance Hong Kong's competitiveness in the international financial market, but also help mainland assets go international."

Standard Chartered Bank, one of the partners of the project, has continued to deploy in the field of digital assets and financial technology in recent years; Hong Kong Telecom will provide key technical infrastructure and network security for the project. The three-party joint venture will jointly explore solutions for blockchain technology in stablecoin issuance, compliance custody and large-scale application.

The president of Animoca Brands emphasized that Hong Kong, as an important global financial hub, is at a critical node in promoting the integration of virtual asset supervision and innovation. He called on regulators to continue to improve the legal system and review mechanism for stablecoins to provide a clear and sustainable policy path for the development of the industry. "We are very much looking forward to cooperating with more technology and financial institutions in the Mainland to jointly explore the application of blockchain technology in cultural creativity, supply chain finance, asset tokenization and other fields."