Animoca Brands and Standard Chartered Pioneer Stablecoin Initiative in Hong Kong

Animoca Brands and Standard Chartered have initiated the first steps toward launching a regulated stablecoin in Hong Kong, aligning with the region's new stablecoin legislation effective August 1. The partnership, announced earlier this year, underscores Hong Kong's ambition to solidify its position as a global financial hub through Web3 innovation.

Evan Auyang, Group President of Animoca Brands, emphasized the transformative potential of stablecoins for institutional and retail adoption, noting their role in facilitating on-chain asset movement. The Hong Kong Stablecoin Ordinance introduces a structured licensing framework to monitor issuers and mitigate systemic risks while unlocking new liquidity pools.

The collaboration remains in preliminary stages, beginning with a formal submission to the Hong Kong Monetary Authority. Animoca Brands' regional focus on Asia Pacific distinguishes its strategy from broader crypto market players.