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

ChainCatcher news, according to the Daily Economic News, Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecom 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 scenarios such as virtual asset transactions within the gaming ecosystem, cross-border trade, and financial settlements, which will help mainland asset transactions go international. He believes that Hong Kong needs to continue to strengthen its efforts in stablecoin regulation to promote the development of the digital asset and asset tokenization industry. Animoca Brands hopes to collaborate with mainland institutions on blockchain applications.