Standard Chartered Bank, Animoca Brands, and HKT have announced a joint venture to develop a Hong Kong dollar-backed stablecoin. They plan to apply for a license from the Hong Kong Monetary Authority (HKMA) to establish the region as a global digital asset hub. The stablecoin aims to provide a secure and compliant digital currency for individuals, institutions, and merchants in Hong Kong. The initiative is compatible with the HKMA’s stablecoin issuance Sandbox. Standard Chartered Group CEO Bill Winters highlighted the growing role of stablecoins in the digital economy, while Animoca Brands' Group President Evan Auyang emphasized the importance of driving mainstream adoption in Hong Kong’s digital economy.



Other News from Today