Key Takeaways:
- Standard Chartered Hong Kong and Animoca Brands formed Anchorpoint Financial to seek a stablecoin issuer license under Hong Kong’s new regulatory framework.
- The venture plans to launch a licensed Hong Kong dollar-backed stablecoin, with HKMA notified on August 1 as stricter rules took effect.
- Competition is rising, with JD.com, Ant International, and others also pursuing Hong Kong dollar stablecoin projects.
Standard Chartered’s Hong Kong arm and Web3 firm Animoca Brands have launched Anchorpoint Financial Limited, a joint venture aimed at issuing a licensed Hong Kong dollar-backed stablecoin.
The company, established in Hong Kong, has applied to the Hong Kong Monetary Authority (HKMA) for a stablecoin issuer license, with its application submitted on August 1 – the day the city’s new stablecoin framework took effect.
We have established a joint venture, Anchorpoint Financial Limited (“Anchorpoint”) in Hong Kong, together with @StanChart (Hong Kong) and HKT, to build a business model focused on the issuance and advancement of licensed stablecoins.
— Animoca Brands (@animocabrands) August 8, 2025
Anchorpoint has indicated formal interest… pic.twitter.com/XGhXmK2E7B
The rules, which followed a six-month transition period, introduced tougher-than-expected requirements, triggering share declines of up to 20% for some local firms.
Industry observers called the drop a healthy correction.
Plans for the stablecoin were first revealed in February, and the project also involves Hong Kong Telecommunications (HKT).
The three firms previously participated in the HKMA’s stablecoin sandbox in July 2024.
Standard Chartered’s role is notable as one of only three banks authorized to issue Hong Kong’s fiat currency.
Competition in the market is growing, with JD.com, Ant International, and Jingdong Coinlink Technology recently revealing their own Hong Kong dollar stablecoin ambitions just ahead of the new regulatory regime.
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