Standard Chartered Plc has partnered with Animoca Brands and HKT (6823.HK) to form a joint venture focused on applying for a Hong Kong Monetary Authority license for issuing a Hong Kong dollar-backed stablecoin. This move will enable the venture to tap into crypto-native opportunities and enhance both domestic and cross-border payments. According to Mary Huen, CEO of Standard Chartered’s Hong Kong and Greater China & North Asia division, the bank aims to be one of the first to issue an HKD-backed stablecoin with the help of its strategic partners.
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