James Richardson
Anchorpoint Financial, a new joint venture between Animoca Brands, Standard Chartered, and Hong Kong Telecommunications (HKT), has officially begun the process of securing a stablecoin issuer license in Hong Kong — a move that could shape the region’s role in global digital finance.
The partnership, operating under the name Anchorpoint Financial Limited, submitted its formal expression of interest to the Hong Kong Monetary Authority (HKMA) on August 1. This step marks the first stage in the city’s licensing process for fiat-backed stablecoin issuers, as outlined by the HKMA’s recently implemented framework.
An Animoca Brands spokesperson confirmed that this filing represents the initial gateway to obtaining the license, paving the way for deeper involvement in Hong Kong’s regulated Web3 financial ecosystem.
Why Stablecoins Matter for Hong Kong’s Financial Hub
“Stablecoins are among the most impactful innovations in Web3, and we’re still at the dawn of their institutional and retail adoption,” said Evan Auyang, Group President of Animoca Brands. He emphasized that an HKMA-regulated, fiat-referenced stablecoin could reinforce Hong Kong’s status as a leading global financial center as more assets migrate on-chain.
The Stablecoins Ordinance, which came into effect on August 1, requires all fiat-backed stablecoin issuers to obtain official HKMA licensing — a clear sign of the city’s intent to regulate and nurture digital currency innovation.
Learn: What is Blockchain?
Next Steps: From HKD-Backed Stablecoin to Market Integration
This application aligns with the joint venture’s previously disclosed goal of launching an HKD-backed stablecoin. In March 2024, the HKMA introduced a regulatory sandbox to trial stablecoin projects, with Animoca Brands, Standard Chartered, and HKT joining the program in July.
Looking ahead, Anchorpoint Financial aims to leverage stablecoins to enhance payment systems, foster financial market growth, and bridge the gap between traditional finance and the Web3 economy.
