Animoca Brands Partners with Standard Chartered and HKT for HKD Stablecoin Launch

Highlights:

• Animoca Brands has initiated a joint venture to launch a Hong Kong dollar stablecoin.
• The stablecoin targets digital trade, gaming, and financial settlements.
• The initiative aligns with Hong Kong’s Stablecoin Ordinance starting August 2025.

The Hong Kong-based venture capital firm Animoca Brands has formed a joint venture with Hong Kong Telecom (HKT) and Standard Chartered Bank. The report states that the new collaboration is oriented toward creating a stablecoin pegged to the Hong Kong dollar. This stablecoin will also focus on being compliant with the Stablecoin Ordinance in Hong Kong, which is set to be implemented in August 2025.

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Animoca Brands plans to establish a joint venture with Standard Chartered Bank and HKT to prepare for the issuance of a Hong Kong dollar-pegged stablecoin. The company also expressed its intention to collaborate with mainland Chinese institutions on blockchain applications.…

— Wu Blockchain (@WuBlockchain) June 20, 2025

The combined effort favors digital payments, virtual trade, and cross-border financial settlements. It will also serve to incorporate blockchain into traditional finance. The stablecoin will hold a 1:1 reserve ratio against the Hong Kong dollar, ensuring price stability to both institutional and retail consumers.

The collaboration unites powerful participants in the industry. Animoca Brands provides Web3 application knowledge. Banking clients will be attracted with the assistance of Standard Chartered. HKT will offer support in the retail network. Both partners make a key contribution to the ecosystem. The stablecoin initiative supports Hong Kong in meeting its objective of digital asset growth. Moreover, it earns trust and credibility by launching under transparent regulatory terms. Industry experts regard it as a precedent for other Asian jurisdictions.

Animoca Brands to Drive Web3 Adoption through Stablecoin Ecosystem

Animoca Brands will employ the stablecoin on its gaming and NFT platforms, facilitating efficient transactions in its digital ecosystem. The company also intends to promote the coin for international payments. Furthermore, it aims to bridge Web2 to Web3 users through blockchain applications in the real world.

Through the joint venture, the company positions itself to seek a stablecoin issuer license. Animoca seeks to collaborate closely with the local regulators in order to fulfill licensing conditions such as adherence to KYC, AML, and control of capital flows. The company believes that the legal clarity will enhance adoption.

The method helps both traditional and digital-native users. The coin enables the transfer of low-cost, quick, and secure transactions across different sectors. Moreover, the stablecoin aims at wide adoption by providing real utility in real-world applications. The stablecoin might become instrumental in linking Hong Kong with mainland China. While China limits crypto use, this stablecoin opens fresh doors through legal and carefully structured channels. Cross-border collaboration would broaden the application of tokenized assets in legal contexts.

Hong Kong Regulation Powers Stablecoin Integration

As confirmed by the Hong Kong government, the Stablecoin Ordinance is due to enter into effect in August 2025. According to this law, regulated firms can issue fiat-backed stablecoins. Animoca led the joint venture in direct response to this change.

The new regulation is expected to promote an innovative and safe financial environment. Hong Kong aims to be a regulatory hub of regulated digital finance. Licensed stablecoins will power payment systems and help build stronger financial infrastructure. Consequently, this places Hong Kong among one of the few jurisdictions in the world providing clarity on stablecoins. Animoca Brands and its partners will use these rules to operate their stablecoin, granting the project a significant advantage over unregulated competitors.

The collaboration also hints at increased industry interest, as significant players such as JD.com are also pursuing such projects. Their effort points to the increased interest in Hong Kong dollar-backed stablecoins.

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