Animoca Brands Partners With Standard Chartered to Launch HKD-Pegged Stablecoin

Web3 gaming company Animoca Brands recently established a strategic partnership with Standard Chartered and telecom giant HKT. This joint venture is set to launch Hong Kong’s first stablecoin pegged to the Hong Kong Dollar (HKD). The aim of this initiative is to develop a secure and widely acceptable digital currency backed by fiat reserves.

HKD-Pegged Stablecoin

In a press release, Animoca noted that they would apply for a license from the Hong Kong Monetary Authority (HKMA). This move comes as the country’s regulator has officially scheduled the commencement of the Stablecoin Ordinance for August 1, 2025.

For context, the Ordinance introduces a comprehensive legal and regulatory framework for stablecoins. It also positions Hong Kong as a proactive jurisdiction in regulating digital assets.

The HKD-pegged stablecoin is expected to launch shortly after the Stablecoin Ordinance is implemented. However, this initiative is still awaiting approval.

Following the anticipated regulatory regime, the stablecoin will be integrated into e-commerce platforms and mobile payment systems. Consequently, the HKD-pegged stablecoin will offer users a reliable and transparent digital alternative to the traditional payment system.

Furthermore, this strategic collaboration seeks to revolutionize Hong Kong’s digital finance landscape. With the right amount of financial support, this notable move could position the country at the forefront of stablecoin adoption.

Major Corporations Move Towards Stablecoin Integration

The latest initiative comes as stablecoins experience more adoption and growth. Recently, Chinese internet finance company Ant Group made significant moves to secure stablecoin licenses in Hong Kong, Singapore, and Luxembourg.

Malaysia also unveiled a digital asset innovation hub designed to foster growth in the digital economy.

Moreover, prominent companies such as Google, Apple, Airbnb, and X are considering the incorporation of stablecoins to help reduce global payment costs. These moves reflect the increasing interest in bridging traditional finance with the digital asset ecosystem.

Earlier this week, the total supply of stablecoins surpassed the $250 billion mark. This milestone demonstrated the growth and diversity of the stablecoin ecosystem. While the crypto industry is dominated by Tether (USDT) and Circle (USDC), there has been a notable shift to Ethena.

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