Standard Chartered, HKT, Animoca to form JV for HK dollar-backed stablecoin
Standard Chartered Plc , said on Monday its Hong Kong banking division, Animoca Brands and HKT will establish a joint venture to apply for a license from the Hong Kong Monetary Authority for issuance of a Hong Kong dollar-backed stablecoin.
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Standard Chartered, Animoca Brands and HKT establish joint venture to issue HKD-backed stablecoin
Hong Kong, February 18, 2025 -- Standard Chartered Bank (Hong Kong) Limited (“SCBHK”), Animoca Brands, and HKT have entered into agreements to establish a joint venture (“JV”) with the intention to apply for a license from the Hong Kong Monetary Authority (“HKMA”) in the new regulatory regime1 in order to issue a Hong Kong dollar-backed stablecoin.
Standard Chartered Signs Deal with Animoca Brands and HKT to Launch HKD-Backed Stablecoin.
Standard Chartered has signed a deal with Animoca Brands and HKT to launch HKD-Backed Stablecoin in Hong Kong. Takeaway Points Standard Chartered has signed a deal with Animoca Brands and HKT to launch HKD-Backed Stablecoin.
Standard Chartered to Launch HK Dollar-backed Stablecoin
Standard Chartered, Animoca Brands, and HKT form a joint venture to launch a Hong Kong dollar-backed stablecoin under HKMA’s licensing regime
Standard Chartered and Animoca Brands team up for HKD-backed stablecoin launch
Global banking giant Standard Chartered is teaming up with blockchain gaming and digital assets venture firm Animoca Brands on a significant blockchain-related venture. Per a press release, the collaboration also involves local telecom giant HKT and will see the three partners eye a new stablecoin pegged on the Hong Kong Dollar.
Standard Chartered, Animoca Brands and HKT partner to issue HKD-backed stablecoin
Animoca Brands, and HKT have agreed to form a joint venture (JV). This is so that they can apply for a license from the Hong Kong Monetary Authority (HKMA) under the new regulatory regime(1) to create a stablecoin backed by the Hong Kong dollar.
Standard Chartered, Animoca Brands, HKT to pursue Hong Kong dollar-backed stablecoin
Stablecoins are digital assets that maintain a fixed value relative to a government-issued fiat currency or other reference rate.
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