Animoca Brands Gears Up for Stablecoin Revolution in Hong Kong!

Exclusive Joint Venture with Standard Chartered and Hong Kong Telecom

Hong Kong's own Animoca Brands is setting the stage for a major play in the stablecoin arena, aiming to snag a license through a powerhouse partnership with Standard Chartered Bank and Hong Kong Telecom. They're not just playing the game; they're planning to change it, especially with the looming legalization of the region's Stablecoin Ordinance.

In a tell-all chat with China Business Network, Animoca's Group President, Evan Auyang, spilled the beans. He revealed that their web3 team has teamed up with heavyweights Standard Chartered and Hong Kong Telecom. They're all in, ready for the new Stablecoin Ordinance to kick in.

Auyang didn't hold back, explaining the joint venture's big goal: to throw open the doors for Animoca Brands to dive into stablecoin issuing and build a rocking web3 ecosystem where users can flex their native stablecoins.

"We've got a joint venture, and yeah, we're gonna use it to go for that stablecoin license. Stay tuned for the juicy details!" Auyang declared with a hint of mystery.

But it's not just about the stablecoins. Animoca Brands is on a mission to drag customers into the wild world of web3, and they know it takes a village. That's where the big names like Standard Chartered and Telecom come in, helping to shift users from web2 to web3 with some serious collaboration.

"We handle the web3 magic, Standard Chartered brings the banking muscle, and Hong Kong Telecom? They're all about hitting up the retail crowd," Auyang broke it down.

So, what's the plan for this HKD-pegged stablecoin? Three big moves: powering transactions in Animoca's gaming and NFT worlds, smoothing out cross-border trade, and putting Hong Kong dollar-backed stablecoins on the global map.

Ever since the U.S. passed the GENIUS Act to boost its stablecoin game, players like Animoca Brands and JD.com in Hong Kong have been sharpening their knives, ready to launch their own Hong Kong dollar-pegged stablecoins.

It's all about carving out a slice of the market and showing the U.S. stablecoins who's boss in the East.

Mark your calendars, folks. On June 6, the Hong Kong Special Administrative Region Government dropped the news: the Stablecoin Ordinance is coming in hot in August 2025. And guess what? That's when companies can officially sign up to issue their own Hong Kong dollar-pegged stablecoins.