Standard Chartered, Animoca Brands, HKT to pursue Hong Kong dollar-backed stablecoin

Quick Summary:

Stablecoins are digital assets that maintain a fixed value relative to a government-issued fiat currency or other reference rate.

Policymakers in Hong Kong have been pressing ahead with initiatives to help promote the city as a leading cryptocurrency hub.

They traditionally serve as a bridge for transactions involving digital assets on blockchains, which cannot directly interact with fiat currencies.

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Article Details

Author / Journalist: Yujie Xue

Category: Business

Markets: Hong Kong

Topics: Kong Brands Hong Bank-grade Venture Infrastructure Joint Animoca Stablecoin Chartered Standard

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-17 @ 20:27:48 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 215 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26223051

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 19 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 5 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #42

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