Standard Chartered, Animoca Brands, and HKT Partner To Launch Hong Kong Dollar-Backed Stablecoin as Regulatory Framework Advances
Introducing HKD Coin: The New Era of Stablecoins With the growing popularity and adoption of cryptocurrencies, many companies and financial institutions are exploring the potential of stablecoins - digital assets that are pegged to a fiat currency, such as the US dollar or the Euro. And now, Hong Kong is joining the race with the launch of its own stablecoin, backed by one of the biggest banks in the region - Standard Chartered. The Partnership: Standard Chartered x Animoca Brands x HKT Standard Chartered, a leading international banking group, has joined forces with Animoca Brands, a blockchain and gaming company, and HKT, a major telecommunications company in Hong Kong, to launch the HKD Coin. The stablecoin will be pegged to the Hong Kong dollar, making it the first of its kind in the region. Benefits of a Hong Kong Dollar-Backed Stablecoin The launch of HKD Coin has many potential benefits for the Hong Kong market. One of the main ...