Standard Chartered Hong Kong, Anxin Group, and HKT are establishing a joint venture to prepare for the issuance of a stablecoin pegged to the Hong Kong dollar
Standard Chartered Hong Kong, Anxin Group, and HKT reached an agreement on February 17 to establish a joint venture company, planning to apply for a license from the Hong Kong Monetary Authority to issue a stablecoin pegged to the Hong Kong dollar. Standard Chartered Group CEO Bill Winters stated that they will actively participate in central bank digital currency and stablecoin projects to promote the development of the digital asset market. Senior executives from HKT and Anxin Group also emphasized that the stablecoin will enhance payment efficiency and transaction security, helping Hong Kong become a global Web3 hub
According to Zhitong Finance APP, on February 17th, Standard Chartered Hong Kong, Anping Group, and HKT (06823) have reached an agreement to establish a joint venture, aiming to apply for a license from the Hong Kong Monetary Authority under the new regulatory framework to issue a stablecoin pegged to the Hong Kong dollar.
Standard Chartered Group CEO Bill Winters stated that the bank is actively participating in various projects related to central bank digital currencies, tokenized deposits, and stablecoins, and is launching business plans and products to serve the digital asset market. Stablecoins, as public blockchain tools with practical use cases, play a key role in the entire digital asset ecosystem.
Standard Chartered Bank Hong Kong and Greater China & North Asia CEO Mary Huen expressed that as a bank participating in the Hong Kong Monetary Authority's stablecoin issuer sandbox, Standard Chartered looks forward to becoming one of the first issuers with partners to launch a stablecoin pegged to the Hong Kong dollar, bringing a new trading medium to Hong Kong and opening a new chapter for the development of the local financial market.
HKT Group Managing Director Alex Au believes that issuing a stablecoin pegged to the Hong Kong dollar will help enhance payment efficiency, simplify transaction processes, and bring higher security and transparency through advanced Web3 technology, benefiting the entire retail industry.
Anping Group President Ouyang Qijun stated that being one of the first companies to issue a stablecoin pegged to a fiat currency under the regulatory framework of the Hong Kong Monetary Authority further strengthens the group's confidence in Hong Kong's bright prospects as a global Web3 center
