Animoca Brands to Issue Hong Kong Dollar-Pegged Stablecoin with Standard Chartered and HKT
Summary
- Animoca Brands announced that it is collaborating with Standard Chartered and Hong Kong Telecom to establish a joint venture for issuing a stablecoin pegged to the Hong Kong dollar.
- Regarding the joint venture's background, the CEO of Animoca Brands said that expanding use cases and collaborating with leading players in various industries is essential.
- The CEO assessed that stablecoins will play an important role as a bridge for international trading of mainland Chinese assets, as well as in gaming, virtual assets, and financial settlements.
Animoca Brands is working with Standard Chartered Bank and Hong Kong Telecom (HKT) to establish a joint venture to issue a stablecoin pegged to the Hong Kong dollar.
On the 20th (local time), Evan Auyang, CEO of Animoca Brands, explained in an interview with NBD.com the background of the three-way partnership, saying, "The core of a stablecoin is to secure diverse real-world use cases and customer bases," and added, "For this, cooperation with leading companies across various industries is essential."
Previously, the Hong Kong Special Administrative Region Government set August 1 as the implementation date for the 'Stablecoin Ordinance' on the 6th. Last July, Animoca Brands, together with Standard Chartered and HKT, was selected to participate in the stablecoin project led by the Hong Kong Monetary Authority.
CEO Auyang noted, "Stablecoins will be used in sectors such as gaming, virtual assets, trade, and financial settlements," and evaluated that "they will become an important link for international trading of mainland Chinese assets."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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