Standard Chartered, Animoca, and HKT to Launch HKD Stablecoin Under New Regulations

Daily Top Performer — Story Protocol (IP)

The S&P 500 hit a record high, rising 0.24%, despite Fed concerns and Trump’s tariff threats. Gold hit $2,946 before falling to $2,925 as Fed minutes dimmed rate-cut hopes. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.64%, with Bitcoin and Ether rising by 2.12% and 2.26%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.

Today’s top performer is IP, which surged nearly 29.3% after Story Protocol joined C2PA to enhance digital media verification and on-chain IP protection.

Story Protocol (IP), founded in 2022, is a Layer 1 blockchain that tokenizes IP, ensuring attribution, royalties, and fair creator compensation in an AI-driven economy. Story Protocol joins C2PA, alongside Adobe, Microsoft, and other founding members, to set standards for verifying digital media. By bringing IP on-chain, Story makes it verifiable, programmable, and licensable, ensuring transparency and proper attribution.

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Talk of the Town

Standard Chartered, Animoca Brands, and HKT are launching a Hong Kong dollar-backed stablecoin and applying for a license under Hong Kong’s upcoming stablecoin bill. The joint venture aims to explore stablecoin applications in payments, leveraging Standard Chartered’s experience with tokenized money, Animoca’s blockchain expertise, and HKT’s mobile payment systems. The stablecoin bill, currently under review, will require issuers to obtain an HKMA license and meet reserve requirements. Hong Kong continues positioning itself as a digital asset hub, approving Bitcoin and Ether ETFs and enforcing strict crypto exchange regulations.

Bitcoin Spot ETF Flows

Yesterday, BTC Spot ETFs had a net outflow of $64.1M, with GBTC remaining unchanged.

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Airdrop to Watch

KGeN, formerly indiGG, is a gaming platform backed by Aptos and Polygon, helping gamers own their data and connect with developers. With $30M raised at a $500M valuation, KGeN has launched its K-Points farming program, where users earn K-Points by completing tasks to qualify for a confirmed airdrop. Players can also mint a free Proof of Gamer (POG) NFT and boost their earnings by joining a clan. The more quests completed, the greater the airdrop rewards.

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