Animoca Brands: Plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecommunications to issue a Hong Kong dollar-pegged stablecoin.

2025-06-20 05:32:12

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On June 20, according to the Daily Economic News, Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecommunications to prepare for the issuance of a stablecoin pegged to the Hong Kong dollar. The president of Animoca Brands stated in an interview that the stablecoin will be widely used in virtual asset transactions within the gaming ecosystem, cross-border trade, and financial settlement scenarios, which will help mainland asset transactions move towards international markets. He believes that Hong Kong needs to continuously make a strong push in stablecoin regulation to promote the development of the digital asset and asset tokenization industries. Animoca Brands hopes to collaborate with mainland institutions on blockchain applications.

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