Animoca, Standard Chartered, and HKT To Launch HKD Stablecoin

Key Takeaways

• A joint venture between Animoca Brands, Standard Chartered, and HKT is developing a Hong Kong dollar-pegged stablecoin.
• The project aligns with Hong Kong’s new Stablecoin Ordinance, which goes into effect in August 2025.
• The stablecoin could serve as a bridge between mainland China and global digital asset markets.

A major cross-industry alliance is stepping up to shape the future of digital money in Hong Kong.

Animoca Brands, Standard Chartered Bank, and telecom giant HKT have teamed up to launch the city’s first stablecoin pegged to the Hong Kong dollar (HKD).

The initiative comes as Hong Kong prepares to roll out its long-awaited Stablecoin Ordinance this August.

Each Partner Brings a Piece of the Puzzle

Animoca Brands will focus on Web3-native integration and gaming use cases, including The Sandbox metaverse.

Standard Chartered will handle the financial backbone and custody. HKT will bring mainstream accessibility through its Tap & Go mobile payments platform.

Together, they aim to build more than just a digital version of Fiat.

The goal is to create a stablecoin that works across payment rails, gaming ecosystems, and digital asset markets, while meeting strict regulatory standards.

A Digital Gateway for Mainland China

Beyond local innovation, the stablecoin could play a pivotal role in cross-border finance.

As the largest offshore RMB hub, Hong Kong is uniquely positioned to act as a neutral corridor between China’s traditional financial system and the global digital economy.

A compliant HKD stablecoin could simplify settlements, reduce friction, and open up new trade and investment channels.

According to Evan Auyang, Group President of Animoca Brands, the stablecoin is designed to “bridge Web3 applications with global financial networks,” offering the stability of fiat with the flexibility of digital rails.

He also noted that trust will be key, with the coin fully backed by fiat reserves and operating within a legal framework designed to build credibility.