Standard chartered participating in equal stabecoin effort

Standard Chartered Bank Hong Kong (SCBHK), Brands in Animoka and HKT Agree to make a joint venture to issue a stablecoin that is supported by Hong Kong Dollar.

The new concerted effort intends to apply for a license from Hong’s Authority Monetary (HKMA) Under a new regulation regime, subject to Staberso’s passing Press release.

Stabento Bill in Hong Kong is checked and, if implemented, require stabraining issues to obtain a HKMA license and fulfill the reserve and priverce requirements reported Monday.

The joint efforts benefit from the standard infrastructurt to the Charter-grade bank, stabercoin’s powerful and work experience gives the whole world; Skills in the animoka brands and large web3 space networks; and the Spechine of the HKT’s mobile wallet, according to the press release of companies.

The three companies work together with a HKMA Sandboer at StableCoin Issuer That is launched in July to check how stabecoins can cause the development of financial markets and payments, per release.

Their joint Vablar in Hong Kong Kong in Hong

“By wasting bank strengths and our partners with intent to launch a stablecoin that can be used safely to institutions and individuals in a wide case,” Mary HuenCEO, Hong Kong and Great China and North Asia, Standard Chartered, said to release. “We are dedicated to continuing ahead of driving change in regulators, colleagues and clients, plus consolidated paper in Hong Kong as an international financial center.”

To another, the separate effort, the standard chartered is one of the companies involved in a pilot project called the Canton Network opens blockchain The network allowing for real-time settlement and immediate reconciliation of counterpart systems.

In September, HKMA said the second round of the test began to pilot in E-HKD, which 11 groups of companies explored Tokenized assetsProgrammability and Offline Pay.