Animoca Brands announced Friday that it has set up a joint venture, Anchorpoint Financial Limited, in Hong Kong with Standard Chartered Bank (Hong Kong) Limited (SCBHK) and HKT to pursue the issuance of licensed stablecoins.
Animoca Brands Forms JV With Standard Chartered and HKT to Seek Hong Kong Stablecoin Issuer Licence
Anchorpoint is said to have lodged an expression of interest with the Hong Kong Monetary Authority (HKMA) on 1 August, the day the Stablecoins Ordinance came into effect, signalling its intent to apply for a stablecoin issuer licence.
The venture aims to develop a business model for issuing and advancing regulated stablecoins in the city.
Evan Auyang, group president of Animoca Brands, said: “Animoca Brands is proud to partner with Standard Chartered and HKT to form Anchorpoint in applying for a stablecoin issuer license under the HKMA, with a view to bringing stablecoins into the mainstream financial ecosystem in Hong Kong.
“Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike.”
Auyang added that HKMA-regulated, fiat-referenced stablecoins could help reinforce Hong Kong’s standing as a leading international financial centre.
Since July 2024, Animoca Brands, SCBHK and HKT have taken part in the HKMA’s stablecoin issuer sandbox to assess how the digital assets could support the development of financial markets and payment systems.
The companies said they see stablecoins as a bridge between Web3 and traditional finance, contributing to Hong Kong’s role as a global hub for digital assets.
