Animoca Brands, Standard Chartered, HKT Launch Hong Kong Dollar Stablecoin

Animoca Brands, a leading digital entertainment and blockchain gaming company, has joined forces with Standard Chartered and HKT to introduce a stablecoin pegged to the Hong Kong dollar. This collaboration aims to transform the digital finance landscape in Asia by providing a stable and reliable digital currency backed by the Hong Kong dollar.

The joint venture brings together the financial expertise of Standard Chartered, the technological infrastructure of HKT, and Animoca Brands' experience in digital assets and gaming. The stablecoin is designed to offer stability and security, making it an attractive option for both individuals and businesses seeking a digital alternative to traditional fiat currencies. This move is expected to enhance financial inclusion and efficiency, particularly in regions where access to banking services may be limited. By providing a stable digital currency, the partnership aims to facilitate smoother transactions, reduce costs, and increase transparency in financial operations.

The stablecoin will be backed 1:1 with Hong Kong dollars and will serve both institutional and retail markets. It is expected to support digital payments, virtual asset trading, in-game economies, and business settlements. With Standard Chartered’s financial backing and HKT’s tech infrastructure, the venture aims for secure, scalable deployment. The coin will operate under Hong Kong’s new regulatory regime, providing legal clarity and risk mitigation. This structure should encourage adoption among users seeking compliant digital financial tools. By anchoring to a trusted fiat currency, the stablecoin reduces volatility and improves usability in daily transactions.

The initiative also includes plans to work with mainland Chinese institutions on blockchain adoption across borders. The stablecoin could serve as a bridge for programmable finance and digital trade settlements between jurisdictions. Regulatory alignment remains a challenge, given differences between Hong Kong’s open policies and China’s cautious stance. The partnership will require strong compliance, especially regarding KYC, AML, and capital controls. Yet, early engagement with regulators on both sides may smooth integration of digital infrastructure across borders.

Backed by established firms, the project brings legitimacy to Asia’s emerging stablecoin ecosystem. Animoca’s Web3 experience complements Standard Chartered’s banking operations and HKT’s communication networks. This trio can create a stablecoin designed for both digital-native users and traditional finance players. To compete globally, the stablecoin must also ensure liquidity, ease of redemption, and strong reserves. Success could position Hong Kong as a leader in Asia’s digital asset landscape. It could also provide a reference model for stablecoin rollouts in other regulatory jurisdictions.