Standard Chartered, Animoca Brands and HKT unveil establishment of joint venture

#StandardChartered , #AnimocaBrands , and #HKT have entered into agreements to form a joint venture to apply for a license under Hong Kong's new regulatory framework. They aim to issue a stablecoin backed by the Hong Kong dollar, subject to approval from the Hong Kong Monetary Authority (HKMA).

The joint venture will utilize Standard Chartered's bank-grade infrastructure and rigorous governance, Animoca Brands' industry expertise and extensive network in the #Web3 space, and HKT's mobile wallet expertise to enable the development of innovative stablecoin use cases.

👉 animocabrands.com/standard-chartered-animoca-brands-and-hkt-establish-joint-venture-issue-hkd-backed-stablecoin