Financial intuitions Standard Chartered, Animoca Brands, and HKT have joined forces to establish a stablecoin venture.

Hong Kong Joint Venture Aims to Launch Regulated Stablecoin

A groundbreaking joint venture between Standard Chartered Bank (Hong Kong) Limited, Animoca Brands, and HKT has officially submitted an application to the Hong Kong Monetary Authority (HKMA) for a stablecoin issuer license. The venture, operating under the name Anchorpoint Financial Limited, aims to launch a Hong Kong dollar-backed stablecoin as part of Hong Kong's regulatory sandbox program.

The partners bring unique strengths to the table. Standard Chartered Bank contributes its established banking infrastructure and governance capabilities, ensuring banking-grade risk management and regulatory compliance. Animoca Brands offers deep expertise in Web3 and digital asset innovation, helping drive adoption of stablecoins across various sectors. HKT provides mobile wallet technology and ecosystem capabilities that will support user-friendly payments and digital asset integration in everyday financial services.

The stablecoin is a key milestone in Hong Kong’s fintech ecosystem under the new regulatory regime that requires fiat reserves, daily redemption, and robust risk controls. This collaborative venture combines traditional finance credibility with Web3 innovation to set a compliance-driven benchmark for stablecoin issuance in Asia.

Standard Chartered Bank (Hong Kong) Limited has been involved in every HKMA tokenized money project in recent years. The bank's Hong Kong and Greater China leadership see the collaboration as an opportunity to create a stablecoin with wide applicability across multiple sectors. The bank considers digital assets to have become a permanent part of the financial landscape and expresses confidence in the future of tokenized money.

Animoca Brands views the current stage of stablecoin adoption as early, with significant potential for expansion across retail, enterprise, and institutional markets. The company plans to draw on its deep expertise and broad industry network to help the joint venture explore innovative opportunities.

The HKMA's stablecoin issuer sandbox aims to assess the role of stablecoins in bridging Web3 technologies with traditional finance. The partners aim to become one of the first licensed issuers of a regulated HKD-backed stablecoin, positioning themselves as pioneers in the region.

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 company believes the introduction of an HKD-linked stablecoin could improve transaction efficiency, enhance payment security, and provide greater transparency through advanced Web3 technologies.

Animoca Brands, a global leader in the Web3 sector, intends to contribute to shaping the future of digital assets in Hong Kong, fostering innovation while maintaining compliance with the highest industry standards. The joint venture seeks to establish a joint venture with the goal of applying for a license from the Hong Kong Monetary Authority (HKMA) under the city's new regulatory framework for stablecoins.

The partners aim to enhance payment efficiency, facilitate cross-border and domestic transactions, and position Hong Kong as a leading global regulated hub for Web3 and digital finance. They believe their combined strengths and early involvement in the sandbox place them in a prime position for market entry.

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 intends to contribute to this growth while offering value to the wider retail sector and supporting Hong Kong's reputation as a hub for innovation.

[1] Hong Kong Monetary Authority. (2023). Hong Kong's regulatory sandbox for stablecoin issuers. Retrieved from https://www.hkma.gov.hk/media/eng/doc/key-initiatives/fintech/regulatory-sandbox-for-stablecoin-issuers.pdf

[2] Hong Kong Stablecoin Ordinance. (2024). Retrieved from https://www.legco.gov.hk/yr2024-25/english/legislation/bills/sbill10.pdf

[3] Anchorpoint Financial Limited. (2025). Press release: Anchorpoint Financial Limited submits application for stablecoin issuer license. Retrieved from https://www.anchorpointfinancial.com/press-releases/anchorpoint-financial-limited-submits-application-for-stablecoin-issuer-license-under-hong-kong-stabilitycoin-ordinance/

Financial intuitions Standard Chartered, Animoca Brands, and HKT have joined forces to establish a stablecoin venture.