Animoca Brands is actively pursuing a stablecoin issuance license through a newly established joint venture with Standard Chartered Bank and Hong Kong Telecom as Hong Kong prepares to roll out its Stablecoin Ordinance.
This strategic collaboration positions the company to operate within the region’s upcoming regulatory framework, aligning with its broader Web3 ambitions.
In an interview with China Business Network, Animoca Brands Group President Evan Auyang confirmed that the joint venture was formed in anticipation of the ordinance’s implementation. By aligning with two major institutions, the initiative is structured to ensure compliance while advancing Animoca’s stablecoin strategy.
IMG TXT: Animoca Brands to establish a joint venture with Standard Chartered Bank, HKT. Source: Nehal
According to Auyang, the primary goal of the joint venture is to secure a stablecoin license and establish a comprehensive Web3 ecosystem where users can interact seamlessly with Animoca’s native stablecoin.
“We currently have a joint venture company through which we intend to apply for a license to issue stablecoins. The specific details will be announced at a later time,”
he said.
To accelerate Web3 adoption, Animoca Brands plans to introduce real-world application scenarios that attract users from traditional Web2 platforms. This effort will be strengthened through its collaboration with key industry players.
“Our group is responsible for the development of native Web3 application scenarios, Standard Chartered Bank is responsible for driving bank customer resources, and Hong Kong Telecom focuses on reaching retail customers,”
Auyang explained.
The company’s HKD-pegged stablecoin is designed for three core use cases: enabling transactions across Animoca’s gaming and NFT ecosystems, facilitating cross-border trade settlements, and supporting the broader international adoption of Hong Kong dollar-backed digital assets.
In parallel with its stablecoin initiative, Animoca Brands is expanding its ecosystem engagement through token distribution. Co-founder and executive chairman Yat Siu recently announced a new phase of the MOCA token airdrop, distributing 300,000 tokens to the Mocaverse community. This initiative includes defined participation criteria and aims to boost community involvement and inclusivity across the Web3 landscape.
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