Standard Chartered, HKT, Animoca to form JV for HK dollar-backed stablecoin
Standard Chartered Plc , said on Monday its Hong Kong banking division, Animoca Brands and HKT will establish a joint venture to apply for a license from the Hong Kong Monetary Authority for issuance of a Hong Kong dollar-backed stablecoin.
Standard Chartered and Partners Plan HKD-Backed Stablecoin
Standard Chartered, Animoca, and HKT launch joint venture for HKD-backed stablecoin, driving digital payments, Web3 and financial innovation.
Standard Chartered, Animoca Brands and HKT establish joint venture to issue HKD-backed stablecoin
Animoca Brands, and HKT have entered into agreements to establish a joint venture (“JV”) with the intention to apply for a license from the Hong Kong Monetary Authority (“HKMA”) in the new regulatory regime1 in order to issue a Hong Kong dollar-backed stablecoin.
StanChart HK enters JV to develop HKD-backed stablecoin
It is working with telecom company HKT and game software company Animoca Brands. Standard Chartered Bank (Hong Kong), game software company Animoca Brands, and Hong Kong telecom company HKT are establishing a joint venture to issue a Hong Kong dollar-backed stablecoin.
Standard Chartered and Animoca Brands team up for HKD-backed stablecoin launch
Global banking giant Standard Chartered is teaming up with blockchain gaming and digital assets venture firm Animoca Brands on a significant blockchain-related venture. Per a press release, the collaboration also involves local telecom giant HKT and will see the three partners eye a new stablecoin pegged on the Hong Kong Dollar.
Standard Chartered, Animoca Brands and HKT partner to issue HKD-backed stablecoin
Animoca Brands, and HKT have agreed to form a joint venture (JV). This is so that they can apply for a license from the Hong Kong Monetary Authority (HKMA) under the new regulatory regime(1) to create a stablecoin backed by the Hong Kong dollar.
Standard Chartered, Animoca Brands, HKT to pursue Hong Kong dollar-backed stablecoin
Stablecoins are digital assets that maintain a fixed value relative to a government-issued fiat currency or other reference rate.
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