Standard Chartered Bank Hong Kong, Animoca Brands, and HKT have formed a joint venture to issue a Hong Kong dollar-backed stablecoin, aiming to enhance financial market development and payments while complying with the HKMA’s regulatory framework. This initiative supports Hong Kong’s goal of becoming a global digital assets hub and includes plans to explore Bitcoin as a strategic asset for fiscal reserves, potentially attracting talent and boosting the local crypto industry.
about Standard Chartered and Partners Launch Hong Kong Dollar Pegged Stablecoin InitiativeWu Jiexhuang
0 posts last weekHong Kong Central Bank Launches Initiative for Distributed Ledger Technology Adoption
The Hong Kong Monetary Authority has launched the “Supervisory Incubator for Distributed Ledger Technology” to assist banks in adopting DLT safely and effectively. This initiative provides dedicated support for live trials, focusing initially on tokenized deposits, while promoting industry-wide best practices and research. As DLT evolves, it is expected to enable innovative financial products and new transaction methods beyond traditional infrastructure.
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