Standard Chartered Bank, Animoca Brands and Hong Kong Telecom set up joint venture to issue HKD stablecoins

PANews February 17th news, according to FFNews, Standard Chartered Bank (Hong Kong), Animoca Brands and HKT have reached an agreement to establish a joint venture (JV) and plan to apply for a license from the Hong Kong Monetary Authority (HKMA) to issue Hong Kong dollar-backed Stablecoin. Standard Chartered Bank has extensive experience in global stablecoin issuance and will provide joint ventures with bank-grade infrastructure and strict governance. Animoca Brands will leverage its expertise and network in the Web3 field to advance the project. HKT will leverage its mobile wallet expertise to promote innovative stablecoin applications and promote domestic and cross-border payments.