Animoca Brands, through its subsidiary Anni Group, has announced the establishment of a joint venture with Standard Chartered Bank and telecommunications company Hong Kong Telecom. The aim of the partnership is to develop a new stablecoin that will be pegged to the Hong Kong dollar.
This is reported by Finway
Development Strategy and Regulatory Support
The project is being implemented within the regulatory “sandbox” of the Hong Kong Monetary Authority. Starting from August 1, 2025, a regulatory framework for stablecoin issuers will be introduced in Hong Kong, and the joint venture plans to obtain the necessary license. Anni Group will be responsible for creating the Web3 infrastructure and developing its use cases, Standard Chartered will focus on attracting banking clients, and HKT will provide retail coverage through the Tap & Go service.
The Importance of the Stablecoin for International Transactions and Web3
The head of Anni Group, Ouyang Qijun, emphasized that the new stablecoin will become a key tool for the internationalization of transactions involving assets from mainland China and the development of blockchain applications. The asset is planned to be used in the gaming economy, cross-border trade, and financial settlements. It will be particularly beneficial for users of gaming metaverses such as The Sandbox, facilitating the international movement of assets and acting as a bridge between traditional and decentralized financial systems.
“The stablecoin will be used in the gaming economy, cross-border trade, and financial settlements. In particular, it will serve as an ‘entry point’ into Web3 for users of gaming metaverses like The Sandbox, helping to simplify the international movement of assets from mainland China.”
Anni Group also expressed its intention to collaborate with Chinese institutions in the areas of decentralized identification and educational solutions. The company highlighted the importance of comprehensive regulation for the sustainable development of digital assets, particularly regarding anti-money laundering (AML), know your customer (KYC), and investor protection.
According to Ouyang Qijun, the Hong Kong Monetary Authority may issue the first licenses for stablecoin issuance by the end of this year. At the same time, additional educational efforts and demand stimulation for stablecoins in the real economy are necessary for the mass adoption of the new asset.