TechFlow news, February 17 — According to an official announcement, Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecom (HKT) have jointly formed a joint venture aiming to apply for a license from the Hong Kong Monetary Authority (HKMA) to issue a Hong Kong dollar-pegged stablecoin. The joint venture will combine Standard Chartered’s financial infrastructure and governance expertise, Animoca Brands’ Web3 ecosystem resources, and HKT’s mobile payment technologies.
The three parties have participated in the HKMA's Stablecoin Issuer Regulatory Sandbox since July 2024, working to bridge Web3 and traditional finance through stablecoins and reinforcing Hong Kong’s position as a global digital asset hub.
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