PANews reported on July 20 that Animoca Brands announced that it has participated in the Stablecoin Issuer Sandbox launched by the Hong Kong Monetary Authority in March this year with Standard Chartered Bank (Hong Kong) and Hong Kong Telecom. Regarding the "division of labor" among the three companies, Animoca Brands said: Hong Kong Telecom will strive to explore through the sandbox how stablecoin innovations can support local and cross-border payments, bringing greater benefits to consumers and merchants; Standard Chartered Bank (Hong Kong) will actively participate in the Stablecoin Issuer Sandbox to explore how to support the vigorous development of Hong Kong's digital asset ecosystem in the most effective way, and gain an in-depth understanding of the opportunities and risks brought about by the evolution of the stablecoin market for this ecosystem; and Animoca Brands is committed to promoting the popularization and application of digital assets, and applying blockchain-related technology solutions to physical assets and the traditional economy.