PANews reported on June 20 that according to the National Business Daily, Animoca Brands Limited has established a joint venture with Standard Chartered Bank and Hong Kong Telecom to prepare for the launch of a stablecoin pegged to the Hong Kong dollar. The three parties will be responsible for Web3 application scenarios, bank resources and retail access, respectively, to promote the application of stablecoins in games, cross-border trade and financial settlement. It is reported that the Hong Kong Special Administrative Region Government's "Stablecoin Ordinance" will be implemented on August 1, 2025.