TechFlow news — On July 18, Animoca Brands announced it is jointly participating in the Hong Kong Monetary Authority’s (HKMA) stablecoin issuance sandbox initiative with Standard Chartered Bank (Hong Kong) Limited and Hong Kong Telecom (HKT). The initiative, announced in March this year, aims to promote the application of stablecoins in financial and payment markets. The partners will leverage Zodia Custody's digital asset custody capabilities to explore the potential of stablecoins in advancing Hong Kong’s and the global digital asset market.
Standard Chartered Bank stated that participation in the sandbox will help deepen understanding and support opportunities and risks within Hong Kong’s digital asset ecosystem. Animoca Brands and HKT also expressed their commitment to driving large-scale adoption of digital assets and innovating payment systems through the sandbox, supporting Hong Kong’s ambition to become a global digital asset hub.
