Standard Chartered, Animoca Brands, and HKT have teamed up to create a Hong Kong stablecoin sandbox

Standard Chartered (Hong Kong) Limited (SCBHK), Animoca Brands, and Hong Kong Telecom (HKT) have joined forces to participate in the stablecoin issuer sandbox announced by HKMA (HKMA) in March. The collaboration, which leverages the digital asset capabilities of Zodia Custody, aims to foster sustainable and transparent growth in the digital asset market. Zodia is a digital asset custody provider for Standard Chartered. The initiative supports Hong Kong's transformation into a global digital asset hub by exploring the role of stablecoins in the financial and payments markets. SCBHK aims to understand the opportunities and risks of the stablecoin market while supporting the digital asset ecosystem. Animoca Brands focuses on large-scale digital asset adoption and blockchain technology applications, while HKT explores stablecoin innovations for domestic and cross-border transfers.