Animoca Brands has announced a partnership with Standard Chartered and HKT to launch an HKD stablecoin under Hong Kong’s new licensing regime, effective from August 1, 2025.
This collaboration underscores Hong Kong’s push to become a global Web3 hub, positioning the stablecoin for significant influence in financial, commercial, and gaming sectors.
Animoca and Partners Launch HKD Stablecoin Initiative
Animoca Brands collaborates with Standard Chartered and HKT to issue an HKD-pegged stablecoin. The initiative aligns with Hong Kong’s Stablecoins Ordinance. This move represents a crucial step for Web3 adoption in a regulated framework.
Involving major industry players, the partnership aims to enhance the payment landscape leveraging Web3 technology. The stablecoin rollout, supported by Hong Kong’s regulatory guidelines, integrates finance and technology innovations effectively.
Stakeholder Optimism for HKD Stablecoin Advantages
Anticipation grows as stakeholders foresee enhanced transaction efficiency and transparency across various sectors. The HKD stablecoin may influence how businesses in Hong Kong operate, aligning with global advances in digital finance.
“As the leading Web3 ecosystem player headquartered in Hong Kong, Animoca Brands is absolutely thrilled to collaborate with SCBHK and HKT on this joint venture. Stablecoins are one of the best proven and most widely recognised use cases for Web3, and we are still in the early stages for mass adoption… This opportunity to become one of the first to issue a fiat-backed stablecoin under the HKMA’s licensing regime reinforces our conviction that Hong Kong has a bright future as a global Web3 hub, leading the charge to grow the industry in a safe and compliant manner.” — Evan Auyang, Group President, Animoca Brands
The new stablecoin framework could increase liquidity and utility for DeFi protocols post-launch. The collaboration also aids in maintaining regulatory compliance and financial security, benefiting the broader cryptocurrency ecosystem.
Stablecoin Project Mirrors Global Regulatory Successes
This stablecoin initiative mirrors previous successful projects like USDC and EURC. The regulated environment in Hong Kong provides a promising setting for similar advancements in digital currencies globally.
Experts suggest this project could fuel future innovations in stablecoins, promoting greater adoption within Web3 ecosystems. Historical trends indicate that regulated environments often bolster market confidence and expansion.
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