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StanChart, Animoca Brands and HKT launch joint venture to develop Hong Kong dollar-backed stablecoin – TON BOT

StanChart, Animoca Brands and HKT launch joint venture to develop Hong Kong dollar-backed stablecoin

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Standard Chartered’s Hong Kong arm, Animoca Brands, and HKT are collaborating to launch a Hong Kong dollar-backed stablecoin pending regulatory approval from the HKMA. The joint venture aims to provide a secure digital currency for institutions and individuals, leveraging SCBHK’s experience with stablecoin issuers and Animoca Brands’ industry networking. HKT will enhance the utility of stablecoins for payments. Hong Kong’s supportive regulatory framework is driving significant growth in crypto adoption.

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