Standard Chartered and Animoca Brands Team Up For HKD Stablecoin

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Hong Kong’s financial sector is witnessing a major shift. Standard Chartered’s Hong Kong unit has partnered with Animoca Brands, which is planning to go public in the U.S., to create a stablecoin tied to the Hong Kong dollar. As announced, both companies have set up a new business called Anchorpoint Financial Limited. This joint venture will focus on building a strong business model for regulated stablecoins. The new firm also seeks to apply for an official license to operate in Hong Kong. Ancho...