Hong Kong Standard Bank Limited (Scbhk), Animoca and HKT agreed to form a joint venture (JV). This is so that they can apply for a license from the Hong Kong Cash Authority under the new regulatory system (1) to create Stablecoin backed by the Hong Kong dollar.
The three were working together in Hkma Sandbox Sandbox Stablecoin since it started in July 2024. The goal is to know how Stablecoins can help the growth of financial markets and payments by connecting WeB3 and traditional financing, making Hong Kong a more important center for digital assets around the world.
Standard Charterd (Hong Kong) signed SCBHK, Animoca Brands and HKT an agreement to establish a joint venture to apply for a license under the new organizational framework for the new Hong Kong power to issue a dollar -backed Stablecooins in Hong Kong.
– Wu Blockchain (Wublockchain) February 17, 2025
JV has been prepared in a way that allows it to be one of the first exporters in the region to enter this market. Each organization has its role.
standard Carted, Animoca brands and HKT.
Standard Charterd worked with Stablecoin. This will allow the joint project to use a banking -class infrastructure and fully supervision.
Animoca brands will use its expertise in industry and its wide network in the Web3 space to help JV benefit from encrypted opportunities. In addition, innovative use of the Web3 ecosystem that will support the long -term growth of JV.
HKT, a technology company, will benefit from the experience of JV’s mobile phone portfolio to develop unique Stablecoin. This will improve local payments and through borders and provide additional benefits for both consumers and merchants.
This is a big step for encryption in China – American Stablecoins USDT Which is already facing a problem in some countries.
Recently, the United States has presented the two stablecoin projects to organize Stablecoin. Analysts said that in order for Tether to follow the planned American Stablecoin rules, it may have to sell assets that do not follow the rules.
In addition, he struggled Tether in Europe. Market bases in encryption fashion (MICA) says that the large symbolic exporters who must keep 60 % of their banks in the European Union banks. This caused USDT out of a number of European exchanges. However, the United States of America may welcome a new competitor.
Executive expressions of the organization about JV
Bill Winters, CEO of Standard Chartered Group, stressed that digital assets are here to survive and that the development of different forms of distinctive funds is necessary for the progress of this industry.
The company is actively involved in a variety of digital currencies of the Central Bank, distinctive deposits and stablecoins projects
He said , “We provide solutions and tools that serve this market and meet the increasing customer’s demand. Like the general chain tools with installed use cases, Stablecoins plays an important role in the ecosystem of comprehensive digital assets. The infrastructure of the Standard Chartard, governance and global access that we are in a good position to contribute to the contribution Physical in the development of the ecosystem that is built in Hong Kong and globally.
Mary Hoin, CEO, Hong Kong, the largest China and North Asia, Standard Chartrad, has expressed this step. She said that Standard Chartrad is looking to become one of the first exporters who were launched from HKD. She said they are looking to bring an innovative way to exchange to Hong Kong and have drawn a new chapter for the Hong Kong digital origin market.
She added, “By taking advantage of the bank’s basic strengths and partners, we aim to launch Stablecoin that can be used safely by institutions and individuals through a large number of cases of use. We are committed to staying in the forefront in leading the innovation of high technology alongside organizers, partners and clients, and increasing the unification of the role Hong Kong as an international financial center.
In the same light, Ivan Owaiang, head of a group, Anvioca Brands, said, said “Stablecoins is one of the best and most famous usage cases for Web3, and we are still in the early stages of the collective accreditation of Stablecoins by retail, institutions and institutions.”
Evans Owaiang added, “This opportunity to become one of the first to issue FIT -backed Stablecooin in light of the HKMA licensing system that enhances our conviction that Hong Kong has a bright future as a global center for Web3, which leads to the development of the industry in a safe and compatible manner.”
Susanna Hui, the group’s administrative director, HKT, said, said, “We believe that the HKD stablecoin version will lead to enhancing payment efficiency, simplifying transactions, and providing more safety and transparency through advanced Web3 innovations, which ultimately benefits the broader retail sector.”
When it comes to the encryption industry, China prefers to choose a safer path. Stablecoins comes with a level of safety. This year, AI in China has rocked Global Global by creating smart Chatbot smart with the least money used ever. Now, three of the encryption market giants entered.
Cryptopolitan Academy: Free Web3 fraud – download now