Animoca, Standard Chartered, and HKT Team Up for Hong Kong Stablecoin License Push

TLDR:

• Anchorpoint applies for a Hong Kong stablecoin license as new regulations take effect.
• Joint venture combines banking, telecom, and Web3 expertise for regulated digital payments.
• HKMA sandbox testing explored stablecoin integration in retail and institutional systems.
• Licensed stablecoins could boost trust, adoption, and cross-border payment innovation.

A new stablecoin player is lining up for Hong Kong’s freshly opened licensing regime. Animoca Brands, Standard Chartered Bank (Hong Kong) Limited, and telecom leader HKT have joined forces to create Anchorpoint Financial. 

The joint venture aims to secure a spot as one of the first regulated stablecoin issuers in the city. The partners have already notified the Hong Kong Monetary Authority of their intent to apply. If approved, Anchorpoint could be a key bridge between traditional finance and Web3 in the region.

Anchorpoint Targets HKMA Stablecoin License

Anchorpoint Financial was officially set up on August 1, the same day Hong Kong’s Stablecoins Ordinance came into effect. 

The company will focus on developing and issuing fiat-referenced stablecoins under HKMA oversight. This move follows months of collaboration between Animoca, Standard Chartered, and HKT in the regulator’s stablecoin sandbox.

The sandbox program allowed the three firms to test how licensed stablecoins could work within existing payment systems. 

They explored ways to integrate blockchain-based settlement into both retail and institutional transactions. This approach aligns with Hong Kong’s goal of positioning itself as a global hub for regulated digital assets.

Animoca’s Group President, Evan Auyang, said the partnership intends to bring stablecoins into the mainstream financial system in Hong Kong. 

He noted that as more assets shift on-chain, regulated fiat-backed tokens will be vital for institutional adoption. This statement reflects broader market sentiment that stablecoins will play an increasing role in global finance.

With Standard Chartered’s banking expertise, HKT’s telecom infrastructure, and Animoca’s Web3 experience, the joint venture is designed to operate across sectors. The goal is to deliver a product that can handle both compliance demands and the needs of everyday users.

Building a Bridge Between Crypto and Traditional Finance

The push for a regulated stablecoin comes as Hong Kong tightens rules around digital assets. 

The Stablecoins Ordinance sets strict requirements for reserve management, redemption, and operational transparency. These measures aim to strengthen market trust and prevent risks tied to unregulated token issuance.

For Anchorpoint, compliance is not just a requirement but also a competitive edge. By working directly under HKMA oversight, the venture could attract institutional clients looking for safe blockchain-based payment solutions. 

The partnership structure allows each player to contribute its strengths to product development and rollout.

This licensing push also reflects a broader trend in Asia, where governments are exploring frameworks for regulated stablecoins. Hong Kong’s model could influence similar rules in nearby markets. 

The outcome of Anchorpoint’s application may set a precedent for future issuers entering the space.

If approved, Anchorpoint’s launch would mark another step in merging blockchain innovation with established financial systems. The partners are betting that a fully licensed stablecoin can unlock new opportunities in trade, remittances, and digital asset settlement.