Animoca Brands and Standard Chartered: Start of the Hong Kong StableCoin Initiative with the aim of the first issuer license

Animoca Brands and Standard Chartered: Start of the Hong Kong StableCoin Initiative with the aim of the first issuer license

partnership between Animoca Brands and Standard Chartered: Introduction of a StableCoin project in Hong Kong

Animoca Brands has announced a cooperation with the Standard Chartered Bank to start a StableCoin project in Hong Kong. This partnership aims to apply for the first license for a stable coin issuer in the region.

stable coins are digital currencies that are bound to the value of traditional currencies, such as the US dollar or the euro. They offer stability that distinguishes them from other cryptocurrencies that are often subject to significant price fluctuations. This development could have a significant impact on the financial sector in Hong Kong, since stable coins offer new opportunities for payments and financial transactions.

The cooperation between Animoca Brands, a leading company in the field of blockchain and gaming technologies, and standard chartered, a renowned international bank, is a strategic step to advance the implementation and use of stable coins in Hong Kong.

The plans for the StableCoin project represent significant progress in the development of digital financial instruments in Hong Kong and could help position the region as an important player in the global fintech sector.