In a curious twist of fate, Standard Chartered, that venerable institution, has decided to join forces with the whimsical Animoca Brands and the ever-so-reliable HKT. Together, they have concocted a plan to apply for a license to issue a Hong Kong dollar-backed stablecoin. Ah, the audacity! 💰
As the sun rises over the bustling streets of Hong Kong, our trio of financial adventurers prepares to plunge into the digital asset market, a realm where fortunes are made and lost faster than one can say “cryptocurrency.” The announcement, made on a fateful day in February, was as vague as a politician’s promise, leaving us all wondering about the timeline of this grand endeavor. ⏳
Animoca, with its penchant for all things crypto, will sprinkle its magic dust to explore the vast, uncharted territories of web3. Meanwhile, HKT, the mobile wallet wizard, will lend its expertise to ensure that this joint venture can whip up some truly innovative stablecoin use cases. Because who doesn’t want a stablecoin that can do backflips? 🤸♂️
Bill Winters, the grand poobah of Standard Chartered, waxed poetic about the importance of tokenized money, declaring it “integral to the advancement of this industry.” One can only imagine him in a top hat, gesturing dramatically as he speaks of central bank digital currencies and tokenized deposits. “We are introducing solutions and instruments that service this market and meet the growing client demand,” he proclaimed, as if he were unveiling a new line of luxury handbags.
— Bill Winters
Though Winters was as tight-lipped as a clam regarding the network for the HKD-backed stablecoin, he did mention that stablecoins are akin to “public chain instruments with proven use cases.” Mary Huen, the CEO of Standard Chartered’s Hong Kong and Greater China & North Asia, chimed in, stating that the goal is to launch a stablecoin “that can be used securely by institutions and individuals across a wide number of use cases.” Because, of course, everyone needs a stablecoin in their life! 🎉
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2025-02-17 13:42