According to TechFlow, on July 18, Animoca Brands announced that it will join Standard Chartered Bank (Hong Kong) Limited and Hong Kong Telecom (HKT) in the Hong Kong Monetary Authority (HKMA) Stablecoin Issuance Sandbox Program. The program was announced in March this year and aims to promote the application of stablecoins in the financial and payment markets. The partners will use Zodia Custody's digital asset custody capabilities to jointly explore the potential of stablecoins in promoting the development of Hong Kong and global digital asset markets.
Standard Chartered Bank said that participating in the sandbox program will help better understand and support the opportunities and risks of Hong Kong's digital asset ecosystem. Animoca Brands and HKT also said that they will promote the large-scale application of digital assets and innovation of payment systems through the sandbox program, helping Hong Kong become a global digital asset center.
