Animoca Brands collaborates with Standard Chartered Bank to prepare the issuance of Hong Kong dollar stablecoin, facilitating the internationalization of mainland assets.

On June 20, according to reports, Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecommunications 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 transactions within the gaming ecosystem, cross-border trade, and financial settlement, which will help mainland asset transactions go international. He believes that Hong Kong needs to continue to make a strong push in the regulation of stablecoins to promote the development of the digital asset and asset tokenization industries. Animoca Brands hopes to collaborate with mainland institutions on blockchain applications.