{"id":47690,"date":"2025-02-18T08:57:54","date_gmt":"2025-02-18T08:57:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-animoca-brands-and-hkt-form-jv-for-hkd-backed-stablecoin\/"},"modified":"2025-02-18T08:57:54","modified_gmt":"2025-02-18T08:57:54","slug":"standard-chartered-animoca-brands-and-hkt-form-jv-for-hkd-backed-stablecoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-animoca-brands-and-hkt-form-jv-for-hkd-backed-stablecoin\/","title":{"rendered":"Standard Chartered, Animoca Brands, and HKT Form JV for HKD-Backed Stablecoin"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
\n<\/p>\n

\n

In order to issue a stablecoin backed by the Hong Kong dollar, Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and HKT have formed a joint venture (JV). The businesses intend to submit an application for a license under the Hong Kong Monetary Authority\u2019s (HKMA) changing regulatory environment.<\/p>\n

Having taken an active position in all of HKMA\u2019s tokenized money initiatives, SCBHK contributes its knowledge in banking governance and infrastructure. Its participation in the JV enhances the growing ecosystem of digital assets in Hong Kong.<\/p>\n

In the meantime, Hong Kong-based Web3 leader Animoca Brands will offer its extensive network and industry understanding. By incorporating stablecoins into Web3 platforms and crypto-native applications, the business hopes to promote acceptance.<\/p>\n

HKT, a pioneer in telecommunications and financial technology, will leverage its mobile wallet capabilities to enhance domestic and cross-border transactions. The firm seeks to improve the efficiency of digital payments while offering merchants and consumers new financial tools.<\/p>\n

Industry Leaders on the Future of Digital Assets<\/strong><\/h2>\n

Bill Winters, Group Chief Executive at Standard Chartered, emphasized the significance of stablecoins in the digital economy. \u201cDigital assets are here to stay, and the development of different forms of tokenized money is integral to the advancement of this industry,\u201d<\/em> he stated. He also highlighted Standard Chartered\u2019s involvement in Central Bank Digital Currencies, tokenized deposits, and stablecoin initiatives.<\/p>\n

\n
\n
\n
\n
\n
177% up to 5BTC + 77 Free Spins<\/strong>!<\/strong> <\/p>\n

New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Mary Huen, CEO of Standard Chartered Hong Kong, expressed the bank\u2019s ambition to be among the first issuers of an HKD-backed stablecoin. \u201cBy leveraging the bank\u2019s and our partners\u2019 core strengths, we aim to launch a stablecoin that can be used securely by institutions and individuals across a wide number of use cases,\u201d<\/em> she said.<\/p>\n

Evan Auyang, Group President of Animoca Brands, reinforced Hong Kong\u2019s potential as a global Web3 hub. \u201cStablecoins are one of the best proven and most widely recognized use cases for Web3, and we are still in the early stages of mass adoption,\u201d<\/em> he noted.<\/p>\n

Susanna Hui, Group Managing Director of HKT, emphasized the benefits for merchants and consumers. \u201cIssuing an HKD-linked stablecoin will enhance payment efficiency, streamline transactions, and provide greater security and transparency through advanced Web3 innovations,\u201d<\/em> she explained.<\/p>\n

Since July 2024, SCBHK, Animoca Brands, and HKT have actively participated in the HKMA\u2019s stablecoin issuer sandbox. Their efforts focus on bridging traditional finance with Web3 technologies, reinforcing Hong Kong\u2019s role as a global leader in digital assets.<\/p>\n

\n
\n
\n
\n
\n
350% or 5BTC + 150 Spins!<\/strong><\/strong> <\/p>\n

New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

With this joint initiative, the three companies are positioning themselves as key players in Hong Kong\u2019s regulated stablecoin market, aiming to enhance financial accessibility and innovation in the region.<\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Crypto News – iGaming.org ) In order to issue a stablecoin backed by the Hong Kong dollar, Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and HKT have formed a joint venture (JV). The businesses intend to submit an application for a license under the Hong Kong Monetary Authority\u2019s (HKMA) […]<\/p>\n","protected":false},"author":6,"featured_media":47691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47690"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47690"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47691"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}