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Standard Chartered Partners with Animoca Brands and HKT to Pursue Hong Kong Stablecoin License
Standard Chartered Partners with Animoca Brands and HKT to Pursue Hong Kong Stablecoin License
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BTCCSquare news:
Standard Chartered's Hong Kong branch has joined forces with Animoca Brands and Hong Kong Telecom (HKT) to establish Anchorpoint Financial, a joint venture aiming to issue licensed stablecoins under Hong Kong's new regulatory framework. The Stablecoin Ordinance, enacted on August 1, mandates that all fiat-backed token issuers obtain approval from the Hong Kong Monetary Authority (HKMA).
Anchorpoint has already initiated the application process for a stablecoin issuer license. Evan Auyang, Group President of Animoca Brands, emphasized the venture's goal to integrate stablecoins into Hong Kong's mainstream financial ecosystem, citing their potential as a cornerstone of Web3 adoption among institutions and retail investors.
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