Standard Chartered to Launch an HKD-pegged Stablecoin
Standard Chartered’s Hong Kong branch, together with Web3 investor Animoca Brands and telecom company Hong Kong Telecommunications (HKT), have formed a joint venture to launch a stablecoin linked to the Hong Kong dollar.
The collaboration intends to apply for a license with the Hong Kong Monetary Authority (HKMA) under the city’s forthcoming stablecoin regulatory framework, aiming to be among the first regulated stablecoin issuers, as announced on Monday.
The proposed stablecoin will leverage Standard Chartered’s banking infrastructure, Animoca’s crypto expertise, and HKT’s mobile wallet technology. This initiative aims to develop practical applications in payments, finance, and cross-border transactions.
Hong Kong is advancing towards a regulated stablecoin framework as part of its broader digital asset strategy.
