Financial institutions Standard Chartered, Animoca Brands, and HKT collaborate to establish a venture focused on stablecoins
New Joint Venture Aims to Revolutionize Hong Kong's Financial Landscape
A groundbreaking joint venture, named Anchorpoint Financial Limited, has been formed by Standard Chartered Bank (Hong Kong), Animoca Brands, and HKT. The venture has officially applied for a Hong Kong dollar-backed stablecoin issuer license with the Hong Kong Monetary Authority (HKMA), marking a significant step towards bridging the gap between traditional finance and digital assets.
The application, submitted on August 1, 2025, coincides with the launch of Hong Kong’s Stablecoin Ordinance, which sets the regulatory framework for fiat-backed stablecoins in the city.
Anchorpoint Financial Limited was created with a focus on connecting traditional finance with digital assets, and since July 2024, the venture has been participating in the HKMA’s stablecoin issuer sandbox. This collaboration aims to explore the role of stablecoins in payments and capital markets while bridging Web3 and conventional finance.
The partners emphasize the importance of a regulated fiat-referenced stablecoin in strengthening Hong Kong’s position as an international financial center and digital asset hub. The HKMA is expected to issue only a few stablecoin licenses initially, likely in early 2026, as the regulatory standards are stringent. Anchorpoint is among a small group of applicants (over 40 applied) seeking to meet these high requirements, including sufficient fiat reserves, strict risk controls, and one-business-day redemption obligations.
Standard Chartered Bank (Hong Kong) Limited, with its experience in working with stablecoin issuers worldwide, will contribute bank-grade infrastructure and robust governance standards to the venture. HKT, a prominent player in technology, media, and telecommunications, will apply its mobile wallet capabilities to support the development of practical stablecoin applications, focusing on improving both domestic and cross-border payments.
Animoca Brands, a global leader in the Web3 sector, intends to draw on its deep expertise and broad industry network to help the joint venture explore innovative opportunities. The company aims to identify and implement Web3 use cases that can drive sustainable growth for the project over the long term.
By leveraging its infrastructure, governance standards, and international reach, Standard Chartered Bank (Hong Kong) believes it can play a substantial role in advancing Hong Kong's position in the stablecoin sector. The joint venture aims to introduce a regulated Hong Kong dollar-backed stablecoin with wide applicability across multiple sectors.
The HKMA's stablecoin issuer sandbox aims to assess the role of stablecoins in bridging Web3 technologies with traditional finance, improving financial markets and payment systems. 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.
This strategic move by leading financial and Web3 companies represents an exciting development for Hong Kong’s regulated stablecoin market, positioning the city as a potential global leader in this rapidly evolving field.
[1] South China Morning Post. (2025, August 1). Standard Chartered, Animoca Brands, and HKT launch joint venture for Hong Kong dollar-backed stablecoin. Retrieved from https://www.scmp.com/business/companies/article/3143090/standard-chartered-animoca-brands-and-hkt-launch-joint-venture-hong
[2] Reuters. (2025, August 1). Standard Chartered, Animoca Brands, and HKT form joint venture for Hong Kong dollar-backed stablecoin. Retrieved from https://www.reuters.com/business/finance/standard-chartered-animoca-brands-and-hkt-form-joint-venture-hong-kong-dollar-backed-stablecoin-2025-08-01/
[3] Bloomberg. (2025, August 1). Standard Chartered, Animoca Brands, and HKT Apply for Hong Kong Dollar-Backed Stablecoin License. Retrieved from https://www.bloomberg.com/news/articles/2025-08-01/standard-chartered-animoca-brands-and-hkt-apply-for-hong-kong-dollar-backed-stablecoin-license
[4] Hong Kong Monetary Authority. (2025, August 1). Joint Venture Applies for Hong Kong Dollar-Backed Stablecoin License. Retrieved from https://www.hkma.gov.hk/media/press-releases/2025/joint-venture-applies-for-hong-kong-dollar-backed-stablecoin-license
[5] CoinDesk. (2025, August 1). Standard Chartered, Animoca Brands, and HKT Launch Joint Venture for Hong Kong Dollar-Backed Stablecoin. Retrieved from https://www.coindesk.com/business/2025/08/01/standard-chartered-animoca-brands-and-hkt-launch-joint-venture-for-hong-kong-dollar-backed-stablecoin/
[1] The venture, Anchorpoint Financial Limited, plans to use the stablecoin for various business operations, potentially revolutionizing Hong Kong's business landscape.
[2] With the launch of a regulated stablecoin, Anchorpoint Financial Limited aims to influence Hong Kong's lifestyle by bridging the gap between digital assets and traditional finance, positioning the city as a global technology hub.
