Standard Charter, hkt, animoca form the JV of HK Dollar Supported Stablecoin

(Reuters) – Standard Chartered PLC will establish a joint venture on Monday in which Hong Kong Banking Division, Animocha Brand and HKT apply for licenses from Hong Kong’s Financial Association to issue stability, supported by the Hong Kong Dollar He said he would apply for a license.

Standard Chartered said it has signed an agreement with the Animoca brand, which specializes in Web3, with HKT, Hong Kong’s leading telecommunications service provider. It will strengthen both domestic and cross-border payments, according to the statement.

According to Mary Huen, CEO of the bank’s Hong Kong and Greater China and Asia division, Stanchart will become one of the first issuers to launch a strategic partner and HKD-backed stubcoin I’m looking forward to that.

(Edited by Serporting and Shivangi Lahiri Lahiri, Mirigank District)