Hong Kong’s stablecoin race just got a heavyweight contender. Standard Chartered Hong Kong, Animoca Brands, and Hong Kong Telecom (HKT) have teamed up to form Anchorpoint Financial, a joint venture with its sights set on securing one of the city’s newly minted stablecoin issuer licenses.
The move comes hot on the heels of Hong Kong’s Stablecoin Ordinance, enacted on August 1, requiring all fiat-backed token issuers to gain approval from the Hong Kong Monetary Authority (HKMA). Anchorpoint’s mission? Build a licensed, future-ready stablecoin ecosystem designed for both institutional and retail adoption.
Evan Auyang, Group President of Animoca Brands, expressed confidence in the partnership:
> “Stablecoins remain one of Web3’s most compelling use cases, and we believe adoption is only just beginning. With Standard Chartered and HKT by our side, Anchorpoint can help integrate stablecoins into Hong Kong’s mainstream financial system.”
For context, Animoca Brands is a Web3 powerhouse, investing heavily in blockchain gaming and NFTs. HKT stands as one of the region’s largest telecom giants, while UK-based Standard Chartered is no stranger to digital assets—just last month, it became the first G-SIB bank to launch a Bitcoin and Ethereum spot trading desk for institutions.
The stakes are high: G-SIBs (Global Systemically Important Banks) are so interconnected with the financial system that any instability could ripple across markets—making their foray into crypto a big deal.
While Anchorpoint has already applied for the license, industry watchers predict the first approvals may not roll out until 2026. That said, being among the early applicants positions them in the front row of a potentially transformative chapter in Hong Kong’s digital finance journey.
🚀 With regulatory clarity, global banking muscle, and Web3 innovation all in one venture, Hong Kong’s stablecoin future may have just found one of its strongest anchors yet.
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