ChainCatcher news, according to Daily Economic News, Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecom to prepare for the issuance of a stablecoin pegged to the Hong Kong dollar.

The president of Animoca Brands stated in an interview that the stablecoin will be widely used in scenarios such as virtual asset trading within the gaming ecosystem, cross-border trade, and financial settlements, helping mainland asset transactions move towards international markets. He believes that Hong Kong needs to continue to strengthen its regulatory efforts on stablecoins to promote the development of the digital asset and asset tokenization industry, and Animoca Brands hopes to cooperate with mainland institutions in the application of blockchain.