Standard Chartered and Animoca Brands are jointly developing a Hong Kong dollar stablecoin through their partnership in Anchorpoint Financial. The new digital currency will be fully backed by Hong Kong fiat reserves and aims to expand regional digital payment infrastructure.
As one of three banks authorized to issue Hong Kong’s physical currency alongside HSBC and Bank of China (Hong Kong), Standard Chartered provides banking credibility and regulatory expertise to the initiative. This cooperation builds upon prior collaborations between the institutions and aligns with Hong Kong’s broader strategy to strengthen its position in the digital assets ecosystem.
The stablecoin project emerges alongside similar explorations by companies including JD.com and Ant International in Hong Kong and Singapore. Its development occurs within Hong Kong’s evolving regulatory framework for digital currencies, which prioritizes financial innovation while ensuring compliance.