Evan Auyang Says Hong Kong Dollar Stablecoin Key To Asset Globalization

On June 20, Wu Blockchain cited Chinese media outlet National Business Daily (NBD). The post covered insights from an exclusive interview with Ouyang Qijun (Evan Auyang), President of Anni Group (Animoca Brands). On June 19, NBD interviewed Evan Auyang and asked about the plans for the Hong Kong dollar stablecoin. Auyang said that the company will issue it through a joint venture with Standard Chartered Bank and Hong Kong Telecom (HKT). Backed by the Hong Kong Monetary Authority (HKMA), this stablecoin will play a key role in globalizing mainland asset transactions.

Hong Kong Dollar Stablecoin to Power Web3 and Trade

The Hong Kong SAR government has scheduled the Stablecoin Ordinance to take effect on August 1, 2025. Auyang told National Business Daily (NBD) that the ordinance marks the beginning of a long-term digital asset ecosystem. He emphasized the coin’s use in gaming, trade, and financial settlements. He stated, “Games are the first industry likely to achieve mass adoption in Web3.” Anni Group started as a mobile gaming firm. It became a Web3 company after finding success in blockchain games and NFTs. Its major hit, The Sandbox, opened doors to ventures in DeFi, identity, and AI. The stablecoin project continues this evolution.

Hong Kong Dollar Stablecoin Support User-Payments

In July 2023, the HKMA selected Anni Group for its stablecoin sandbox program. The joint venture divides roles across its partners. Anni Group will build native Web3 use cases. Standard Chartered will handle customer onboarding and banking infrastructure. HK Telecom will push adoption through Tap & Go, its e-payment app. Auyang said, “Stablecoins are the bridge between native and enterprise Web3.” He added, “We need leading players from different sectors to ensure stablecoins can thrive in real use cases.” The stablecoin will support cross-border trade, game asset purchases, and blockchain finance. Auyang believes it will become a core settlement tool for public chain financial services.

Mainland Collaboration and Stablecoin Security Remain Key

Anni Group aims to collaborate with mainland Chinese institutions on blockchain infrastructure. Many of the 570 companies it invested in include mainland talent. Auyang expressed interest in deeper cooperation with these firms despite regulatory restrictions. He said, “Mainland assets going global need a Hong Kong dollar stablecoin.” The stablecoin could reduce USD reliance in Belt and Road settlements. Hong Kong, as the largest offshore RMB pool, fits the role.

The HKMA sandbox process gave Anni Group insights into compliance. The firm now aligns with KYC and AML norms. “Compliance isn’t just a rulebook—it’s the foundation for trust,” Auyang said. He stressed the risks of unregulated stablecoins. “You don’t know if the 1:1 peg is real,” he warned. Stablecoins with legal backing offer programmable features and 24/7 transaction settlement. Auyang sees major potential in applying them for consumer vouchers, trade, and asset chains.

Stablecoin Adoption Faces Challenges Despite Regulatory Push

Auyang said the HKMA may issue licenses before year-end. However, stablecoin adoption still faces hurdles. He stated, “Mainstream society doesn’t understand stablecoins.” Auyang believes ecosystem education and real-world use are critical next steps. He pointed to global competition, especially from the U.S., where the GENIUS Act has fast-tracked stablecoin innovation. He urged Hong Kong to go beyond regulation and build globally competitive companies. “Only then can we lead this industry,” he said.

The business model of Anni Group includes three revenue streams. It builds self-developed Web3 projects, invests in hundreds of startups, and offers consulting with performance-based fees. “We operate like an investment bank for the Web3 world,” Auyang explained. Looking ahead, Anni Group plans to announce new use cases for the Hong Kong dollar stablecoin. With regulation in place and strong partnerships, the stablecoin could reshape how digital finance works in Hong Kong and beyond.