Standard Chartered has announced the formation of Anchorpoint Financial, a joint venture with Animoca Brands and Hong Kong Telecommunications (HKT), to apply for a stablecoin issuer licence in Hong Kong.

The move positions Anchorpoint—a joint-venture with gaming developer Animoca Brands and telco HKT—as the first entity to formally initiate the licensing process under the city’s new stablecoin ordinance, which came into effect on 1 August 2025.

Anchorpoint’s application marks a significant step for Hong Kong’s ambitions to become a regional hub for digital assets and regulated stablecoins. The joint venture has expressed formal interest to the Hong Kong Monetary Authority (HKMA) in seeking the licence, a requirement under the recently implemented regulatory framework designed to bring greater oversight and clarity to fiat-referenced stablecoins.

Mary Huen Wai-yi, chief executive officer for Hong Kong, Greater China and North Asia at Standard Chartered, said, “We believe stablecoins will play an important role in building a sustainable digital asset ecosystem in Hong Kong and are dedicated to playing a role in supporting Hong Kong as an international financial centre and digital assets hub.”

The HKMA is expected to issue only a handful of stablecoin licences in the initial phase, with the first batch anticipated early next year. The authority has encouraged applicants to demonstrate concrete use cases, robust business plans, and sufficient technical and financial resources. The city’s de facto central bank has also urged market participants to temper expectations, noting that large-scale adoption of stablecoins is unlikely in the early stages.

Evan Auyang, group president of Animoca Brands, commented, “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. As assets continue to move on-chain, the HKMA-regulated fiat-referenced stablecoin is important in reinforcing Hong Kong’s position as a leading international financial centre.”

Anchorpoint’s partners have already participated in the HKMA’s stablecoin issuer sandbox, exploring applications for stablecoins in financial markets and payments, and bridging Web3 with traditional finance.

Standard Chartered’s broader approach to stablecoins and digital assets is tightly integrated with its global digital asset strategy. In a recent interview with FStech, Waqar Chaudry, head of digital assets, financing and securities services at the bank, explained that the bank has shifted from experimentation to developing repeatable digital asset services that meet real market demand. “The strategy is to make sure that the time for experimentation is over – we’re bringing things to production,” he said.

The bank is focused on offering integrated solutions, including collateral management, custody, tokenisation, and the on-chain movement of assets. Chaudry said, “So, delivering a combination of crypto custody and then being able to bring stablecoins into the system and connecting the dots with tokenised assets is something we’re very unique at as a bank – we think we are the most advanced bank in the world in this area.

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