Standard Chartered Bank Hong Kong (SCBHK), Animoca Brands, and Hong Kong Telecom are collaborating in the Hong Kong Monetary Authority (HKMA) stablecoin sandbox to explore stablecoin issuance together. Zodia Custody, a Standard Chartered subsidiary, will support their work.
“Standard Chartered is committed to staying at the forefront of the growing digital asset market and driving fintech innovation in Hong Kong,” said Dominic Maffei, Head of Digital Assets & Fintech, Hong Kong, Standard Chartered. “We believe that regulated financial institutions have a key role to play in the development of these markets.”
Hong Kong Telecom plans to explore how stablecoins can support domestic and cross border payments. It provides consumer and merchant payment solutions.
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