Standard Chartered is partnering with Animoca Brands and telecom firm HKT to launch a Hong Kong dollar-backed stablecoin joint venture. The venture will apply for a licence from the Hong Kong Monetary Authority (HKMA) and leverage Standard Chartered’s banking infrastructure, Animoca’s Web3 expertise, and HKT’s mobile wallet capabilities. Standard Chartered has participated in HKMA’s tokenised money initiatives, including a stablecoin issuer sandbox launched in July 2024 with Animoca and HKT. The bank is actively involved in Central Bank Digital Currencies, tokenised deposits, and stablecoins, aiming to expand its role in digital assets. It sees Hong Kong as a key hub for the development of tokenised money, positioning itself to contribute to the region’s growing digital finance ecosystem.