Animoca Brands is launching a stablecoin pegged to the Hong Kong dollar (HKD), which could become a strategic tool for digitalizing Hong Kong’s economy and integrating the onshore yuan (CNY) into the global financial system.
Evan Auyang, President of Animoca Brands, told National Business Daily that his company, in partnership with Standard Chartered and Hong Kong Telecom, continues to work on establishing a joint venture to issue a licensed HKD stablecoin.
In Hong Kong, stablecoin issuance is regulated by a new law coming into effect on August 1, 2025, which requires licensing of stablecoin issuers.
Auyang emphasized that launching the stablecoin is strategically important for expanding international trade as well as for developing virtual assets and decentralized finance sectors. The new asset could serve as a bridge between the onshore (CNY) and offshore (RMB) yuan, facilitating mainland capital’s access to global markets.
Hong Kong is already the largest center for international transactions in offshore yuan and a primary market for yuan-denominated bonds and loans. This creates optimal conditions for developing the HKD stablecoin as a cross-border liquidity tool.
Moreover, the HKD stablecoin may become a key mechanism for converting fiat currencies into digital assets and vice versa, both within various Web3 ecosystems and international trade. The asset will also be integrated into Animoca Brands’ own Web3 projects, including initiatives in decentralized identifiers (DID) and education.
The first announcement of the joint project by Standard Chartered, Animoca Brands, and Hong Kong Telecommunications was made in mid-February 2025. It’s now known that the stablecoin will initially be issued within the regulatory sandbox of the Hong Kong Monetary Authority (HKMA).
Сообщение HKD Stablecoin for International Trade in Preparation появились сначала на CoinsPaid Media.
