🤑 Stablecoin Showdown: Animoca Brands’ Big Move

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It appears that Animoca Brands, a Hong Kong-based company with a penchant for all things web3, has set its sights on acquiring a stablecoin issuing license. And how do they plan to achieve this lofty goal, you ask? Why, through a joint venture with the esteemed Standard Chartered Bank and Hong Kong Telecom, of course! 🤑

In a thrilling exclusive interview with China Business Network, Evan Auyang, Group President of Animoca Brands, revealed the company’s grand plan to capitalize on the region’s forthcoming Stablecoin Ordinance. It seems that Animoca Brands has joined forces with Standard Chartered Bank and Hong Kong Telecom in a bid to create a web3-based ecosystem that will leave users positively clamoring for their native stablecoin. 🤩

But what, pray tell, is the purpose of this joint venture? Ah, dear reader, it is quite simple really. Animoca Brands hopes to secure a stablecoin issuer license, thereby paving the way for the widespread adoption of their HKD-pegged stablecoin. And what a wonderful thing that would be! 🎉

“We currently have a joint venture company through which we intend to apply for a license to issue stablecoins,” Auyang stated with all the excitement of a debutante at her first ball. “The specific details will be announced at a later time,” he added with a hint of mystery, leaving us all positively agog with anticipation. 🤔

But wait, there’s more! Animoca Brands also plans to entice customers into the wonderful world of web3 through a series of application scenarios. And who better to collaborate with on such a venture than the illustrious Standard Chartered Bank and Hong Kong Telecom? 🤝

“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 with all the clarity of a crystal-clear mountain stream. 🌟

And what of the HKD-pegged stablecoin itself, you ask? Ah, dear reader, it seems that Animoca Brands has grand plans for its use. They intend to utilize it for transactions within their gaming and NFT ecosystems, cross-border trade settlements, and to popularize HKD-backed stablecoins on an international scale. 🌎

But why, oh why, would Animoca Brands embark on such a venture? Ah, dear reader, it is quite simple really. With the United States having passed the GENIUS Act, thereby advancing its stablecoin market, Hong Kong industry players like Animoca Brands and JD.com have been left scrambling to carve out a place for themselves in the market. 🏃‍♀️

And so, it seems that Animoca Brands’ move is aimed at combating U.S. stablecoin dominance and securing a spot for Hong Kong dollar-backed stablecoins in the market. Ah, the thrill of competition! 🏆

And finally, in a thrilling conclusion to our tale, the Hong Kong Special Administrative Region Government has announced that it will begin implementing its stablecoin regulation, the Stablecoin Ordinance, in August 2025. Ah, dear reader, it seems that the stage is set for a most thrilling showdown in the world of stablecoins! 🎭

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2025-06-20 10:21