Hong Kong to trial stablecoin with participants including Standard Chartered Bank, Animoca Brands

Hong Kong Monetary Authority — the de facto central bank — said that it allows institutions to trial operational plans for stablecoin issuance “with a view to formulating a fit-for-purpose and risk-based regulatory regime.”

The sandbox, which the HKMA announced in March, will see participation from Jindong Coinlink Technology, RD InnoTech, Standard Chartered Bank, Animoca Brands, and Hong Kong Telecommunications for the first batch.