Animoca, Standard Chartered, and HKT Form Joint Venture to Seek HKMA Stablecoin License
Main Idea
Animoca Brands, Standard Chartered, and HKT have formed a joint venture to launch a stablecoin in Hong Kong, seeking a license from the HKMA under the new Stablecoins Ordinance.
Key Points
1. The joint venture, named Anchorpoint, aims to issue a fiat-backed stablecoin in Hong Kong.
2. The announcement was made on August 1, 2025, coinciding with the enactment of Hong Kong's new Stablecoins Ordinance.
3. The venture has been in the HKMA's regulatory sandbox since July 2024, preparing for compliance with the new law.
4. This initiative is part of Hong Kong's broader strategy to establish itself as a hub for licensed, fiat-backed stablecoins.
5. The move aligns with global trends in the stablecoin market and aims to enhance consumer confidence in digital assets.
Description
Anchorpoint applies for stablecoin issuer license under Hong Kong’s new Stablecoins Ordinance. Joint venture tests stablecoins in HKMA sandbox to bridge Web3 and traditional finance. Licensed stablecoins aim to boost transactional efficiency and strengthen HK’s digital asset hub. Web3 giant Animoca Brands is teaming up with banking heavyweight Standard Chartered and telecom leader HKT to launch a new stablecoin venture in Hong Kong called Anchorpoint Financial. Why the rush: This venture is part...
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