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Standard Chartered, Animoca, and HKT to Develop HKD-Pegged Stablecoin

Standard Chartered Bank Hong Kong (SCBHK), Animoca Brands, and Hong Kong Telecommunications (HKT) have partnered to establish a joint venture (JV) focused on issuing a Hong Kong dollar-backed stablecoin. The JV intends to apply for a license under the Hong Kong Monetary Authority’s (HKMA) new regulatory framework. HKD-Backed Stablecoin According to the official press release , SCBHK, Animoca Brands, and HKT have engaged in HKMA’s stablecoin issuer sandbox since July 2024. The trio has been assessing how stablecoins can facilitate financial market development and payments by connecting Web3 and traditional finance. The partnership is in line with Hong Kong’s ambition to strengthen its role as a global digital assets hub. By leveraging expertise across banking, telecommunications, and blockchain, the JV aims to create a secure and regulatory-compliant stablecoin framework. The initiative aligns with the city-state’s broader strategy to boost digital finance adoption while ensuring compliance with evolving regulatory requirements. In an official statement, Bill Winters, Group Chief Executive of Standard Chartered, said, “Digital assets are here to stay and the development of different forms of tokenized money is integral to the advancement of this industry. That is why we are actively involved in various Central Bank Digital Currencies, tokenized deposits, and, of course, stablecoins projects. We are introducing solutions and instruments that service this market and meet the growing client demand. As public chain instruments with proven use cases, stablecoins play a critical role in the overall digital asset ecosystem.” Hong Kong Eyes Bitcoin as a Strategic Asset Besides the ambitious stablecoin initiative, Hong Kong is also considering adding Bitcoin (BTC) to its fiscal reserves as a hedge against inflation and a store of value. Wu Jiexhuang, a Hong Kong legislative council member, recently proposed using foreign exchange funds to acquire Bitcoin, citing potential benefits such as attracting talent, boosting the local crypto industry, and increasing tax revenue. He said that leveraging China’s “one country, two systems” framework, adding Bitcoin to Hong Kong’s reserves could give the region an early advantage and help mitigate economic instability from its wider adoption in traditional financial markets. The post Standard Chartered, Animoca, and HKT to Develop HKD-Pegged Stablecoin appeared first on CryptoPotato . Bitcoin.com

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Your Gateway to Crypto Riches: Explore Five Promising Coins Poised for Growth

The digital currency market offers a landscape of opportunities, especially for those venturing into it for the first time. This financial frontier is not just about well-known coins but also includes emerging tokens that could redefine wealth-building strategies. As these currencies rise in prominence, they open doors for new investors eager to explore the potential of this transformative sector. Embark on the Catzilla Adventure: A Meme Coin with a Roaring Future In the bustling arena of meme-based cryptocurrencies, Catzilla is quickly rising as a formidable player. Inspired by iconic tokens such as Dogecoin and Shiba Inu, this coin fuses the charm of meme culture with real financial prospects. Featuring a Godzilla-esque feline mascot, Catzilla embraces the spirit of Japanese kaiju mythology, attracting both gaming enthusiasts and savvy investors. Catzilla aims to reshape the meme coin landscape by encouraging a community-driven approach that promotes a fair and decentralized ecosystem. ???? Disrupting the Status Quo with Catzilla ???? Catzilla is carving its niche by offering investors opportunities for substantial returns, with a presale system that steadily increases in value through its 14-phase rollout. This strategy is designed to entice early adopters with significant prospects. ⚡ Experience Triple the Gains ⚡ Central to Catzilla`s allure is its threefold promise: an engaging gaming platform, a unifying vision, and an energetic community. Participants not only partake in an immersive gaming experience but also enjoy the benefits of participating in a vibrant financial movement. ???? Embrace the Catzilla Phenomenon ???? Catzilla serves as a beacon for those disillusioned by traditional finance, with a mission to uphold the playful yet decentralized essence of meme coins. It strives to create a transparent environment that champions equity for its community. Dive into the Catzilla Craze! $CATZILLA Is Climbing—Secure Your Slice! UNI by Uniswap: A Token at the Heart of Governance and Change Launched amidst rising competition, Uniswap`s UNI token empowers users with governance capabilities. Distributed initially to reward loyalty, it granted early users significant financial incentives. Uniswap`s decentralized model, combined with its automated liquidity, offers users efficient trading without intermediaries, making it a pivotal player in the DeFi ecosystem. Raydium (RAY): Pioneering DeFi through Solana`s Speed As an innovative AMM, Raydium enhances DeFi services on Solana with seamless integration into Serum`s DEX. By converting deposits into limit orders, Raydium provides liquidity providers access to a larger order flow, enriching the decentralized finance landscape with superior speed and efficiency. Arbitrum`s ARB: Pushing Ethereum`s Boundaries with Layer-2 Solutions Arbitrum stands out in its quest to amplify Ethereum`s capabilities through Layer-2 optimizations, presenting a scalable solution that enhances transaction speed and efficiency. Its governance token, ARB, facilitates ecosystem developments, offering users a voice in its evolution. XRP: Revolutionizing Transactions with Speed and Security The XRP token, underpinned by the XRP Ledger, targets seamless, cost-effective transactions across borders. Its decentralized infrastructure supports rapid financial exchanges, positioning it as a key player for those prioritizing quick and secure digital transactions. Final Thoughts Though coins like UNI, RAY, ARB, and XRP present substantial technological promise, Catzilla`s distinct appeal as a meme token offers an enticing prospect for those seeking transformative returns. Starting at $0.0002 and scaling to $0.0016 in its presale, Catzilla is set to redefine financial freedom. Website: Catzilla ($CATZILLA) Follow Us on Twitter: https://x.com/CatzillaToken Join the Discussion on Telegram: Telegram Group Get the Latest on Telegram Disclaimer: This content is sponsored and serves informational purposes only. It does not reflect Bitzo`s views and is not intended as legal, tax, investment, or financial advice. Bitcoin.com