Financial institutions Standard Chartered, Animoca Brands, and HKT come together to establish a new venture focused on stablecoins.
Standard Chartered, Animoca Brands, and HKT Team Up to Launch Hong Kong Dollar-Backed Stablecoin
Standard Chartered Bank (Hong Kong), Animoca Brands, and HKT have formed a joint venture named Anchorpoint Financial, with the aim of launching a Hong Kong dollar-backed stablecoin. The consortium submitted its application for the stablecoin issuer license to the Hong Kong Monetary Authority (HKMA) on August 1, 2025.
The joint venture is participating in the HKMA's stablecoin issuer sandbox, testing institutional and retail use cases, and demonstrating its commitment to meeting the stringent regulatory standards of Hong Kong. The project aims to transform cross-border and domestic payments while enhancing compliance and financial security in digital assets.
Standard Chartered Bank (Hong Kong) Limited (SCBHK) is contributing its extensive experience in working with stablecoin issuers worldwide to the joint venture. SCBHK has been involved in every HKMA tokenized money project in recent years, reflecting its commitment to supporting Hong Kong's evolving digital asset landscape.
Animoca Brands, a global leader in the Web3 sector headquartered in Hong Kong, aims to identify and implement Web3 use cases that can drive sustainable growth for the project over the long term. The company views the current stage of stablecoin adoption as early, with significant potential for expansion across retail, enterprise, and institutional markets.
HKT, a prominent player in technology, media, and telecommunications, is expected to apply its mobile wallet capabilities to support the development of practical stablecoin applications. The introduction of a regulated HKD-backed stablecoin could improve transaction efficiency, enhance payment security, and provide greater transparency through advanced Web3 technologies.
The partners believe their combined strengths and early involvement in the sandbox position them for a prime opportunity in shaping the future of digital assets in Hong Kong. The licensing regime introduced by the HKMA is seen as an opportunity for Hong Kong to position itself as a global Web3 hub, fostering safe and compliant industry growth.
The joint venture aims to reinforce Hong Kong's role as a leading international financial centre while promoting responsible fintech innovation. Standard Chartered considers stablecoins an essential element of the digital asset ecosystem, with established applications in global markets. The partners seek to become one of the first licensed stablecoin issuers in the market through their joint venture.
The HKMA's stablecoin issuer sandbox aims to assess the role of stablecoins in bridging Web3 technologies with traditional finance. The sandbox provides a platform for exploring innovative applications of stablecoins while ensuring compliance with regulatory standards.
In conclusion, the project is currently in the licensing and regulatory compliance phase with the HKMA, aiming for approval likely in the near future. Anchorpoint Financial's efforts align with global regulatory trends and enhance Hong Kong’s digital finance ambitions.
Financial institutions, Animoca Brands, HKT, and Standard Chartered are collaborating to transform cross-border and domestic payments with the help of a Hong Kong dollar-backed stablecoin, expanding in retail, enterprise, and institutional markets. Leveraging technology for practical stablecoin applications and meeting regulatory standards, they seek to shape the future of digital assets in Hong Kong, reinforcing its status as a leading financial center while fostering responsible fintech innovation.
